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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
Page
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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
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The Compton Swan Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
20,612 
43,043 
Current assets
Inventories
13,953 
10,653 
Debtors
17,672 
22,343 
Cash at bank and in hand
257,550 
220,599 
289,175 
253,595 
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 
Capital and reserves
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
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The Compton Swan Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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.
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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 
Depreciation
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 
Net book value
At 31 July 2024
12,282 
8,330 
20,612 
At 31 July 2023
12,155 
30,888 
43,043 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
2,459 
400 
Other debtors
15,213 
21,943 
17,672 
22,343 
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 
Accruals
1,628 
1,791 
144,934 
121,310 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
22,553 
31,713 
Bounce back loan
8
Average number of employees
During the year the average number of employees was 9 (2023: 9).
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