3
01/04/2023
31/03/2024
2024-03-31
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
No description of principal activities is disclosed
2023-04-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
05998639
2023-04-01
2024-03-31
05998639
2024-03-31
05998639
2023-03-31
05998639
2022-04-01
2023-03-31
05998639
2023-03-31
05998639
2022-03-31
05998639
core:PlantMachinery
2023-04-01
2024-03-31
05998639
core:MotorVehicles
2023-04-01
2024-03-31
05998639
core:OnerousContractsExcludingVacantProperties
2023-04-01
2024-03-31
05998639
bus:RegisteredOffice
2023-04-01
2024-03-31
05998639
bus:LeadAgentIfApplicable
2023-04-01
2024-03-31
05998639
bus:Director1
2023-04-01
2024-03-31
05998639
bus:Director2
2023-04-01
2024-03-31
05998639
bus:Director3
2023-04-01
2024-03-31
05998639
bus:CompanySecretary1
2023-04-01
2024-03-31
05998639
core:IntangibleAssetsOtherThanGoodwill
2024-03-31
05998639
core:PlantMachinery
2023-03-31
05998639
core:MotorVehicles
2023-03-31
05998639
core:PlantMachinery
2024-03-31
05998639
core:MotorVehicles
2024-03-31
05998639
core:WithinOneYear
2024-03-31
05998639
core:WithinOneYear
2023-03-31
05998639
core:AfterOneYear
2024-03-31
05998639
core:AfterOneYear
2023-03-31
05998639
core:ShareCapital
2024-03-31
05998639
core:ShareCapital
2023-03-31
05998639
core:RetainedEarningsAccumulatedLosses
2024-03-31
05998639
core:RetainedEarningsAccumulatedLosses
2023-03-31
05998639
core:PlantMachinery
2023-03-31
05998639
core:MotorVehicles
2023-03-31
05998639
bus:Director1
2023-03-31
05998639
bus:Director1
2024-03-31
05998639
bus:Director1
2022-03-31
05998639
bus:Director1
2023-03-31
05998639
bus:Director1
2022-04-01
2023-03-31
05998639
bus:SmallEntities
2023-04-01
2024-03-31
05998639
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
05998639
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
05998639
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
05998639
bus:FullAccounts
2023-04-01
2024-03-31
05998639
core:ComputerEquipment
2023-04-01
2024-03-31
05998639
core:ComputerEquipment
2024-03-31
05998639
core:ComputerEquipment
2023-03-31
Company registration number:
05998639
COMP-BIO PRODUCTS LIMITED
Unaudited filleted financial statements
31 March 2024
COMP-BIO PRODUCTS LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
COMP-BIO PRODUCTS LIMITED
Directors and other information
|
|
|
|
Directors |
J N Francis |
|
|
A Francis |
|
|
J S Swiffen |
|
|
|
|
|
|
|
Secretary |
Jonathan Francis |
|
|
|
|
|
|
|
Company number |
05998639 |
|
|
|
|
|
|
|
Registered office |
34 Jos Lane |
|
|
Shepley |
|
|
Huddersfiled |
|
|
|
|
|
|
|
Accountants |
J W Swales & Co Limited |
|
|
The Grange |
|
|
The Street |
|
|
Yatton Keynell |
|
|
Wiltshire |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers |
Lloyds TSB plc |
|
|
Wells |
|
|
|
COMP-BIO PRODUCTS LIMITED
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of COMP-BIO PRODUCTS LIMITED
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of COMP-BIO PRODUCTS LIMITED for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of COMP-BIO PRODUCTS LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of COMP-BIO PRODUCTS LIMITED and state those matters that we have agreed to state to the board of directors of COMP-BIO PRODUCTS LIMITED as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than COMP-BIO PRODUCTS LIMITED and its board of directors as a body for our work or for this report.
It is your duty to ensure that COMP-BIO PRODUCTS LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of COMP-BIO PRODUCTS LIMITED. You consider that COMP-BIO PRODUCTS LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of COMP-BIO PRODUCTS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
J W Swales & Co Limited
Chartered Accountants
The Grange
The Street
Yatton Keynell
Wiltshire
24 March 2025
COMP-BIO PRODUCTS LIMITED
Statement of financial position
31 March 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
- |
|
|
|
- |
|
|
Tangible assets |
|
6 |
1,623 |
|
|
|
2,376 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
1,623 |
|
|
|
2,376 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
31,397 |
|
|
|
15,862 |
|
|
Debtors |
|
7 |
2,263 |
|
|
|
4,724 |
|
|
Cash at bank and in hand |
|
|
553 |
|
|
|
339 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
34,213 |
|
|
|
20,925 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
67,113) |
|
|
|
(
38,959) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
32,900) |
|
|
|
(
18,034) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
(
31,277) |
|
|
|
(
15,658) |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
5,899) |
|
|
|
(
9,337) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
|
|
|
|
(
37,176) |
|
|
|
(
24,995) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
(
37,276) |
|
|
|
(
25,095) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders deficit |
|
|
|
|
(
37,176) |
|
|
|
(
24,995) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
24 March 2025
, and are signed on behalf of the board by:
J N Francis
A Francis
Director
Director
Company registration number:
05998639
COMP-BIO PRODUCTS LIMITED
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Comp-Bio Products Limited, 34 Jos Lane, Shepley, Huddersfiled.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in statement of comprehensive income.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
20 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
ICT equipment |
- |
33.33 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2023:
3
).
5.
Intangible assets
|
|
Other intangible assets |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
460 |
460 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
460 |
460 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Plant and machinery |
Motor vehicles |
Tangible assets - user defined |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
1,151 |
5,250 |
6,109 |
12,510 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2023 |
702 |
4,211 |
5,221 |
10,134 |
|
|
|
|
Charge for the year |
90 |
260 |
403 |
753 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 March 2024 |
792 |
4,471 |
5,624 |
10,887 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2024 |
359 |
779 |
485 |
1,623 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 March 2023 |
449 |
1,039 |
888 |
2,376 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
2,019 |
4,480 |
|
Other debtors |
|
244 |
244 |
|
|
|
_______ |
_______ |
|
|
|
2,263 |
4,724 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
30,414 |
9,435 |
|
Trade creditors |
|
491 |
292 |
|
Social security and other taxes |
|
411 |
2,471 |
|
Other creditors |
|
35,797 |
26,761 |
|
|
|
_______ |
_______ |
|
|
|
67,113 |
38,959 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other creditors |
|
5,899 |
9,337 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Prior period errors
A prior year adjustment of £5415 relates to over valuation of stock on 31st March 2023.
11.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
J N Francis |
(
25,348) |
(
7,158) |
(
32,506) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
J N Francis |
(
34,626) |
9,278 |
(
25,348) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
12.
Going Concern
These account have been prepared on a going concern basis