Company Registration No. 07308327 (England and Wales)
The Compton Swan Ltd
Unaudited accounts
for the year ended 31 July 2024
The Compton Swan Ltd
Unaudited accounts
Contents
The Compton Swan Ltd
Company Information
for the year ended 31 July 2024
Directors
Josephine Pangandian
Kenneth Shaw
Company Number
07308327 (England and Wales)
Registered Office
The Swan
HIgh Street
Compton
Newbury
RG20 6NJ
United Kingdom
Accountants
Claire Rolfe
Added Value Accountancy Ltd
27 Old Gloucester Street
London
WC1N 3AX
The Compton Swan Ltd
Statement of financial position
as at 31 July 2024
Tangible assets
20,612
43,043
Cash at bank and in hand
257,550
220,599
Creditors: amounts falling due within one year
(144,934)
(121,310)
Net current assets
144,241
132,285
Total assets less current liabilities
164,853
175,328
Creditors: amounts falling due after more than one year
(22,553)
(31,713)
Net assets
142,300
143,615
Called up share capital
100
100
Profit and loss account
142,200
143,515
Shareholders' funds
142,300
143,615
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by
Kenneth Shaw
Director
Company Registration No. 07308327
The Compton Swan Ltd
Notes to the Accounts
for the year ended 31 July 2024
The Compton Swan Ltd is a private company, limited by shares, registered in England and Wales, registration number 07308327. The registered office is The Swan, HIgh Street, Compton, Newbury, RG20 6NJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided to write off the cost, less estimated residual value, of all tangible fixed assets over their expected useful lives on the following bases:
Plant and machinery – 20% reducing balance
Fixtures and fittings – 5% straight line
Correction of Prior Period Error
During the current year, the directors identified that certain fixed assets with a cost of £4,625 were incorrectly classified in prior periods as Fixtures and Fittings and depreciated using the straight-line method at 5% per annum. These assets should have been classified as Plant and Machinery and depreciated on a reducing balance basis at 20% per annum.
As a result, depreciation in prior periods was understated by £694, and the net book value of fixed assets was overstated by the same amount. The error has been corrected by restating the comparative figures within the tangible fixed assets note. There is no impact on the current year's depreciation charge or profit, and the total net book value of fixed assets remains unchanged overall, though the allocation and accumulated depreciation have been adjusted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The Compton Swan Ltd
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 August 2023
26,114
57,671
83,785
Additions
5,323
8,769
14,092
Disposals
(14,597)
(57,670)
(72,267)
At 31 July 2024
16,840
8,770
25,610
At 1 August 2023
13,959
26,783
40,742
Charge for the year
2,516
438
2,954
On disposals
(11,917)
(26,781)
(38,698)
At 31 July 2024
4,558
440
4,998
At 31 July 2024
12,282
8,330
20,612
At 31 July 2023
12,155
30,888
43,043
Amounts falling due within one year
Accrued income and prepayments
2,459
400
Other debtors
15,213
21,943
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
29,721
14,352
Taxes and social security
106,856
104,277
Loans from directors
6,729
890
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 9 (2023: 9).