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REGISTERED NUMBER: 11752673 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

COMPASS ELECTRICAL SOLUTIONS (SW) LTD

COMPASS ELECTRICAL SOLUTIONS (SW) LTD (REGISTERED NUMBER: 11752673)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMPASS ELECTRICAL SOLUTIONS (SW) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTOR: Mr L J Turvey



REGISTERED OFFICE: Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



REGISTERED NUMBER: 11752673 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Natwest Plc
15 Victoria Street
Paignton
Devon
TQ4 5DE

COMPASS ELECTRICAL SOLUTIONS (SW) LTD (REGISTERED NUMBER: 11752673)

BALANCE SHEET
31 JANUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,116 25,877

CURRENT ASSETS
Stocks 5 4,700 4,500
Debtors 6 30,226 29,975
Cash at bank 19 19
34,945 34,494
CREDITORS
Amounts falling due within one year 7 30,585 36,318
NET CURRENT ASSETS/(LIABILITIES) 4,360 (1,824 )
TOTAL ASSETS LESS CURRENT LIABILITIES 20,476 24,053

CREDITORS
Amounts falling due after more than one
year

8

20,297

22,476
NET ASSETS 179 1,577

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 79 1,477
SHAREHOLDERS' FUNDS 179 1,577

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

COMPASS ELECTRICAL SOLUTIONS (SW) LTD (REGISTERED NUMBER: 11752673)

BALANCE SHEET - continued
31 JANUARY 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2025 and were signed by:





Mr L J Turvey - Director


COMPASS ELECTRICAL SOLUTIONS (SW) LTD (REGISTERED NUMBER: 11752673)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025


1. STATUTORY INFORMATION

Compass Electrical Solutions (SW) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

COMPASS ELECTRICAL SOLUTIONS (SW) LTD (REGISTERED NUMBER: 11752673)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2024 3,039 64,391 3,834 71,264
Disposals - (16,527 ) - (16,527 )
At 31 January 2025 3,039 47,864 3,834 54,737
DEPRECIATION
At 1 February 2024 754 42,717 1,916 45,387
Charge for year 457 4,424 958 5,839
Eliminated on disposal - (12,605 ) - (12,605 )
At 31 January 2025 1,211 34,536 2,874 38,621
NET BOOK VALUE
At 31 January 2025 1,828 13,328 960 16,116
At 31 January 2024 2,285 21,674 1,918 25,877

COMPASS ELECTRICAL SOLUTIONS (SW) LTD (REGISTERED NUMBER: 11752673)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2024 63,882
Disposals (16,527 )
At 31 January 2025 47,355
DEPRECIATION
At 1 February 2024 42,494
Charge for year 4,367
Eliminated on disposal (12,605 )
At 31 January 2025 34,256
NET BOOK VALUE
At 31 January 2025 13,099
At 31 January 2024 21,388

5. STOCKS
2025 2024
£    £   
Stocks 4,700 4,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 1,451 4,881
Amounts recoverable on contract 18,254 14,572
Other debtors 750 771
Directors' current accounts 9,771 9,751
30,226 29,975

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 12,881 15,836
Hire purchase contracts 3,299 8,604
Tax 6,151 5,335
Social security and other taxes 362 29
VAT 2,917 1,206
Other creditors 2,611 3,060
Accrued expenses 2,364 2,248
30,585 36,318

COMPASS ELECTRICAL SOLUTIONS (SW) LTD (REGISTERED NUMBER: 11752673)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans - 2-5 years 14,185 13,067
Hire purchase contracts 6,112 9,409
20,297 22,476

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

2025 2024
£    £   
Mr L J Turvey
Balance outstanding at start of year 9,751 8,712
Amounts advanced 17,770 29,039
Amounts repaid (17,750 ) (28,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,771 9,751

Loans are interest free, unsecured and repayable on demand.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £17,750 were paid to the director .

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr L J Turvey.

12. GOVERNMENT GUARANTEED LOAN

The bank loan is a COVID-19 Bounce Back Loan, guaranteed by the government. Terms have been extended.