Registered number
07034960
Comptons Cars and Commercials Ltd
Filleted Accounts
30 September 2024
Comptons Cars and Commercials Ltd
Registered number: 07034960
Balance Sheet
As at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 34,672 38,016
Current assets
Stocks 1,303,754 1,339,833
Debtors 4 32,094 75,842
Cash at bank and in hand 45 5,045
1,335,893 1,420,720
Creditors: amounts falling due within one year 5 (542,461) (603,747)
Net current assets 793,432 816,973
Total assets less current liabilities 828,104 854,989
Creditors: amounts falling due after more than one year 6 (7,500) (17,500)
Net assets 820,604 837,489
Capital and reserves
Called up share capital 100 100
Profit and loss account 820,504 837,389
Shareholders' funds 820,604 837,489
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Compton
Director
Approved by the board on 18 June 2025
Comptons Cars and Commercials Ltd
Notes to the Accounts
For the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Site cabin 20% reducing balance
Equipment, fixtures and fittings 20% reducing balance
Office equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Site cabin Equipment, fixtures and fittings Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 29,667 33,006 1,250 63,923
At 30 September 2024 29,667 33,006 1,250 63,923
Depreciation
At 1 October 2023 6,848 17,865 1,194 25,907
Charge for the year 356 2,977 11 3,344
At 30 September 2024 7,204 20,842 1,205 29,251
Net book value
At 30 September 2024 22,463 12,164 45 34,672
At 30 September 2023 22,819 15,141 56 38,016
4 Debtors 2024 2023
£ £
Trade debtors 32,094 75,842
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 285,212 269,185
Trade creditors 181,812 150,057
Taxation and social security costs 68,327 163,450
Other creditors 7,110 21,055
542,461 603,747
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,500 17,500
7 Other information
Comptons Cars and Commercials Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Royal Terrace
Southend on Sea
Essex
SS1 1EA
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