Company Registration No. 07746209 (England and Wales)
Secret Compass Ltd
Unaudited accounts
for the year ended 31 August 2024
Secret Compass Ltd
Unaudited accounts
Contents
Secret Compass Ltd
Company Information
for the year ended 31 August 2024
Directors
T Bodkin
B J Major
Company Number
07746209 (England and Wales)
Registered Office
14 WHITEHOUSE STREET
BRISTOL
BS3 4AY
Accountants
Dalesway Accountancy Services Ltd
Stoneycroft
Linton
Skipton
North Yorkshire
BD23 5HH
Secret Compass Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
101,105
98,418
Inventories
114,802
82,297
Cash at bank and in hand
754,097
671,505
Creditors: amounts falling due within one year
(655,272)
(820,473)
Net current assets
1,074,754
973,008
Total assets less current liabilities
1,180,979
1,076,546
Creditors: amounts falling due after more than one year
(109,219)
(38,333)
Net assets
1,071,760
1,038,213
Called up share capital
100
100
Profit and loss account
1,071,660
1,038,113
Shareholders' funds
1,071,760
1,038,213
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by
T Bodkin
Director
Company Registration No. 07746209
Secret Compass Ltd
Notes to the Accounts
for the year ended 31 August 2024
Secret Compass Ltd is a private company, limited by shares, registered in England and Wales, registration number 07746209. The registered office is 14 WHITEHOUSE STREET, BRISTOL, BS3 4AY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern, which the director considers appropriate.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20 years straight line
Plant & machinery
3 years straight line
Motor vehicles
5 years reducing balance
Fixtures & fittings
10 years straight line
Computer equipment
3 years straight line
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The accounts are presented in £ sterling.
Secret Compass Ltd
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 September 2023
6,668
124,793
19,757
14,500
33,000
198,718
Additions
-
599
33,000
-
11,649
45,248
Disposals
-
(3,331)
-
-
-
(3,331)
At 31 August 2024
6,668
122,061
52,757
14,500
44,649
240,635
At 1 September 2023
1,196
80,999
16,141
1,000
964
100,300
Charge for the year
333
23,771
3,559
1,450
10,117
39,230
At 31 August 2024
1,529
104,770
19,700
2,450
11,081
139,530
At 31 August 2024
5,139
17,291
33,057
12,050
33,568
101,105
At 31 August 2023
5,472
43,794
3,616
13,500
32,036
98,418
5
Investments
Subsidiary undertakings
Valuation at 1 September 2023
5,120
Valuation at 31 August 2024
5,120
Finished goods
114,802
82,297
Amounts falling due within one year
Trade debtors
370,896
485,546
Accrued income and prepayments
112,013
143,948
Other debtors
43,803
56,948
Amounts falling due after more than one year
Other debtors
334,415
353,237
Secret Compass Ltd
Notes to the Accounts
for the year ended 31 August 2024
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
41,243
28,133
Trade creditors
205,843
368,769
Taxes and social security
44,470
27,884
Loans from directors
3,733
1,621
Deferred income
23,863
98,746
9
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Transactions with related parties
Loans of £334,773 have been extended to Base Adventure Media Ltd, a company of which Secret Compass Ltd is a shareholder, and of which Mr T Bodkin is also a director. The loan is repayable on demand and interest will be charged.
Loans totalling £9,959 were extended to Base Film Productions Ltd, a company of which Secret Compass Ltd is a shareholder, and of which Mr T Bodkin is a director and have been written off in the year as the company has ceased trading and been struck off the Companies House register.
12
Average number of employees
During the year the average number of employees was 20 (2023: 19).