Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr P A Haddy 03/05/2017 28 March 2025 The principal activity of the Company during the financial year was the rental of residential property. 10750491 2024-12-31 10750491 bus:Director1 2024-12-31 10750491 2023-12-31 10750491 core:CurrentFinancialInstruments 2024-12-31 10750491 core:CurrentFinancialInstruments 2023-12-31 10750491 core:Non-currentFinancialInstruments 2024-12-31 10750491 core:Non-currentFinancialInstruments 2023-12-31 10750491 core:ShareCapital 2024-12-31 10750491 core:ShareCapital 2023-12-31 10750491 core:FurtherSpecificReserve1ComponentTotalEquity 2024-12-31 10750491 core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 10750491 core:RetainedEarningsAccumulatedLosses 2024-12-31 10750491 core:RetainedEarningsAccumulatedLosses 2023-12-31 10750491 bus:OrdinaryShareClass1 2024-12-31 10750491 2024-01-01 2024-12-31 10750491 bus:FilletedAccounts 2024-01-01 2024-12-31 10750491 bus:SmallEntities 2024-01-01 2024-12-31 10750491 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10750491 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10750491 bus:Director1 2024-01-01 2024-12-31 10750491 2023-01-01 2023-12-31 10750491 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 10750491 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 10750491 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10750491 (England and Wales)

COMPASS RENTAL MANAGEMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

COMPASS RENTAL MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

COMPASS RENTAL MANAGEMENT LIMITED

BALANCE SHEET

As at 31 December 2024
COMPASS RENTAL MANAGEMENT LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 271,794 260,232
271,794 260,232
Current assets
Debtors 4 1,414 3,117
Cash at bank and in hand 7,682 410
9,096 3,527
Creditors: amounts falling due within one year 5 ( 4,154) ( 8,329)
Net current assets/(liabilities) 4,942 (4,802)
Total assets less current liabilities 276,736 255,430
Creditors: amounts falling due after more than one year 6 ( 220,820) ( 218,820)
Provision for liabilities ( 2,197) 0
Net assets 53,719 36,610
Capital and reserves
Called-up share capital 7 100 100
Fair value reserve 9,365 0
Profit and loss account 44,254 36,510
Total shareholder's funds 53,719 36,610

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Compass Rental Management Limited (registered number: 10750491) were approved and authorised for issue by the Director on 28 March 2025. They were signed on its behalf by:

Mr P A Haddy
Director
COMPASS RENTAL MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
COMPASS RENTAL MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Compass Rental Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Investment property

Investment property
£
Valuation
As at 01 January 2024 260,232
Fair value movement 11,562
As at 31 December 2024 271,794

Valuation

There has been no valuation of investment property by an external valuer. The valuation has been carried out by the directors.

4. Debtors

2024 2023
£ £
Accrued income 0 1,705
Other debtors 1,414 1,412
1,414 3,117

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 903 4,107
Accruals 1,475 1,386
Corporation tax 1,776 2,211
Other creditors 0 625
4,154 8,329

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Amounts owed to associates 220,820 218,820

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100