Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity11falsetruefalse 13985351 2023-04-01 2024-03-31 13985351 2022-03-17 2023-03-31 13985351 2024-03-31 13985351 2023-03-31 13985351 c:Director1 2023-04-01 2024-03-31 13985351 d:OfficeEquipment 2023-04-01 2024-03-31 13985351 d:OfficeEquipment 2024-03-31 13985351 d:OfficeEquipment 2023-03-31 13985351 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 13985351 d:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 13985351 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 13985351 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 13985351 d:CurrentFinancialInstruments 2024-03-31 13985351 d:CurrentFinancialInstruments 2023-03-31 13985351 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13985351 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13985351 d:ShareCapital 2024-03-31 13985351 d:ShareCapital 2023-03-31 13985351 d:RetainedEarningsAccumulatedLosses 2024-03-31 13985351 d:RetainedEarningsAccumulatedLosses 2023-03-31 13985351 c:FRS102 2023-04-01 2024-03-31 13985351 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13985351 c:FullAccounts 2023-04-01 2024-03-31 13985351 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13985351 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 13985351 2 2023-04-01 2024-03-31 13985351 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-04-01 2024-03-31 13985351 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 13985351









THE COMPASS ROSE (JEWELLER) LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
THE COMPASS ROSE (JEWELLER) LTD
REGISTERED NUMBER: 13985351

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
8,097
8,547

Tangible assets
 5 
316
342

  
8,413
8,889

Current assets
  

Stocks
  
10,200
-

Debtors: amounts falling due within one year
 6 
13,253
11,942

Cash at bank and in hand
 7 
207
686

  
23,660
12,628

Creditors: amounts falling due within one year
 8 
(63,390)
(44,570)

Net current liabilities
  
 
 
(39,730)
 
 
(31,942)

Total assets less current liabilities
  
(31,317)
(23,053)

  

Net liabilities
  
(31,317)
(23,053)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(31,417)
(23,153)

  
(31,317)
(23,053)


Page 1

 
THE COMPASS ROSE (JEWELLER) LTD
REGISTERED NUMBER: 13985351
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
N Ray
Director

Date: 26 March 2025

Page 2

 
THE COMPASS ROSE (JEWELLER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Compass Rose (Jeweller) Ltd is a private company limited by shares. Its registered in England and Wales and its registered office is Aston House, Cornwall Avenue, London, N3 1LF. The company registration number is 09336707.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Whilst the company is in a net liabilities position, it retains the support of its shareholders and as such
the director considers it appropriate to prepare the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
THE COMPASS ROSE (JEWELLER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Patents
-
10%
Straight line

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
THE COMPASS ROSE (JEWELLER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Intangible assets




Patents

£



Cost


At 1 April 2023
8,967


Additions
441



At 31 March 2024

9,408



Amortisation


At 1 April 2023
420


Charge for the year on owned assets
891



At 31 March 2024

1,311



Net book value



At 31 March 2024
8,097



At 31 March 2023
8,547



Page 5

 
THE COMPASS ROSE (JEWELLER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
381


Additions
69



At 31 March 2024

450



Depreciation


At 1 April 2023
39


Charge for the year on owned assets
95



At 31 March 2024

134



Net book value



At 31 March 2024
316



At 31 March 2023
342

Page 6

 
THE COMPASS ROSE (JEWELLER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
2,607
6,279

Other debtors
9,296
5,663

Prepayments and accrued income
1,350
-

13,253
11,942



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
207
686

207
686



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,634
7,870

Other creditors
55,156
35,100

Accruals and deferred income
1,600
1,600

63,390
44,570



9.


Transactions with directors

Included in other creditors is a balance of £55,156 (2023: £35,100) owed to the director of the company. This loan is unsecured, interest free and repayable on demand.

 
Page 7