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REGISTERED NUMBER: 07819067 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KOMPASS (UK) LIMITED

KOMPASS (UK) LIMITED (REGISTERED NUMBER: 07819067)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KOMPASS (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: S P Hoad



REGISTERED OFFICE: 1 Swan Wood Park
Gun Hill
Horam
East Sussex
TN21 0LL



REGISTERED NUMBER: 07819067 (England and Wales)



SENIOR STATUTORY AUDITOR: Chris Morey



AUDITORS: Feist Hedgethorne Limited
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

KOMPASS (UK) LIMITED (REGISTERED NUMBER: 07819067)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,876 -

CURRENT ASSETS
Debtors 5 34,006 65,121
Cash at bank and in hand 82,562 51,606
116,568 116,727
CREDITORS
Amounts falling due within one year 6 117,241 181,871
NET CURRENT LIABILITIES (673 ) (65,144 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,203

(65,144

)

CREDITORS
Amounts falling due after more than one
year

7

107,987

645,813
NET LIABILITIES (104,784 ) (710,957 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (104,785 ) (710,958 )
SHAREHOLDERS' FUNDS (104,784 ) (710,957 )

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 May 2025 and were signed by:





S P Hoad - Director


KOMPASS (UK) LIMITED (REGISTERED NUMBER: 07819067)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Kompass (UK) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Monetary amounts in these financial statements are rounded to the nearest pound.

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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates and these estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The items in the financial statements where these judgements and estimates have been made include provisions, recoverability of debtors and the calculation of deferred income.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from subscriptions is recognised as income and will be deferred to correspond with the period of subscription which, as a standard 12 month period is split evenly over 12 months.

Revenue from list sales is allocated in the month of sale.

Any revenue deferred at the balance sheet date is included in other creditors and is released over the relevant period.

Financial instruments
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 entity after deducting all of its financial liabilities.


KOMPASS (UK) LIMITED (REGISTERED NUMBER: 07819067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company and employees pay fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
Under a salary sacrifice scheme, employees agree to reduce their pay by the same amount as their pension contributions, with the employer paying pension contributions in return.

The contributions are recognised as an expense in the Statement of Profit and Loss when they fall due. Amounts not paid are included as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Going concern
During the year, the company made a loss of £39,640 before exceptional items (2023: £80,733 loss). At the balance sheet date, the company had net liabilities of £104,784 (2023: £710,957).

The management have been improving the interface to increase their hit rate, and working to find new partners. The company has been loss making for the last two years but the directors are confident there will be a return to profit.

There has also been a change in ownership during the year, details of which can be found in the Ultimate Controlling Party note.

The director has reviewed these factors and future budgets and has a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company, therefore, continues to adopt the going concern basis in preparing its financial statements.

Fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.
Computer Equipment and fixtures & Fittings are depreciated over 2 years using a straight line method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

KOMPASS (UK) LIMITED (REGISTERED NUMBER: 07819067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2024 8,149
Additions 4,430
Disposals (8,149 )
At 31 December 2024 4,430
DEPRECIATION
At 1 January 2024 8,149
Charge for year 554
Eliminated on disposal (8,149 )
At 31 December 2024 554
NET BOOK VALUE
At 31 December 2024 3,876

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 31,323 51,275
Other debtors 2,683 13,846
34,006 65,121

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 6,081 11,436
Taxation and social security 7,857 12,391
Other creditors 103,303 158,044
117,241 181,871

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Amounts owed to group undertakings - 645,813
Other creditors 107,987 -
107,987 645,813

KOMPASS (UK) LIMITED (REGISTERED NUMBER: 07819067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year - 5,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
1 Ordinary £1 1 1

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

As the Directors' report and income statement have been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with section 444(5B) of the Companies Act 2006.

The Report of the Auditors was Unqualified.

Chris Morey (Senior Statutory Auditor)
for and on behalf of Feist Hedgethorn Limited.

11. RELATED PARTY DISCLOSURES

The Company was under the control of Kompass S.A., a company incorporated in France, until 13th June 2024. Kompass S.A. owned 100% of the share capital of Kompass (UK) Limited. Kompass S.A. also owns 100% of the share capital of Kompass International SAS.

During the period of ownership Kompass (UK) Limited raised sales invoices to Kompass International SAS of £27,408 (2023 : £31,268). At 13 June 2024 £15,152 (2023 : £2,526) was owed to Kompass (UK) Ltd which was included in trade debtors.

During the period, of ownership the company made use of services provided by Kompass International SAS and was charged fees of £60,314 (2023 : £127,728). The amount owed to Kompass International SAS at 13th June 2024 was £37,788 (2023 : £7,990).

The Company received a loan from Kompass S.A. which at the beginning of the period amounted to £645,813, no interest was charged. There were no repayments made during the year and a further £107,987 was loaned. Prior to the change of ownership the opening loan balance of £645,813 was waived. The remainder of the outstanding loan balance is interest free and is showing in long term other creditors. This loan will be written off if profits of £165,000 are not made in the year ending 31st December 2024.

KOMPASS (UK) LIMITED (REGISTERED NUMBER: 07819067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

12. ULTIMATE CONTROLLING PARTY

Until 13th June 2024 the immediate parent undertaking was Kompass S.A., a company registered in France, and Kompass S.A. is the parent undertaking of the smallest group to prepare consolidated financial statements. Copies of the Kompass S.A. consolidated financial statements can be obtained from 6 Rue Troyon, 92310, Serves.

The ultimate controlling party was Verdoso SAS, a company incorporated in France, and Verdoso SAS is the parent undertaking of the largest group to prepare consolidated financial statements. Copies of the Verdoso SAS consolidated financial statements can be obtained from 30 Avenue George V, 75008, Paris.

After 13th June 2024 the ultimate controlling party became SPH Holdings Limited, a Company owned and controlled by Mr Stephen Paul Hoad who was appointed as a director of Kompass (UK) Limited on 17th June 2024.