Registered number
06710897
COMPADVANCE Ltd
Filleted Accounts
28 September 2024
COMPADVANCE Ltd
Registered number: 06710897
Balance Sheet
as at 28 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 239,842 193,743
Current assets
Stocks 330,681 387,278
Debtors 4 26,452 22,174
Cash at bank and in hand 26,994 39,044
384,127 448,496
Creditors: amounts falling due within one year 5 (297,680) (311,744)
Net current assets 86,447 136,752
Total assets less current liabilities 326,289 330,495
Creditors: amounts falling due after more than one year 6 (152,961) (185,426)
Provisions for liabilities (12,309) (3,550)
Net assets 161,019 141,519
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 160,019 140,519
Shareholders' funds 161,019 141,519
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.
Emil Depta
Director
Approved by the board on 24 June 2025
COMPADVANCE Ltd
Notes to the Accounts
for the year ended 28 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.
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:
Freehold buildings non-depreciating
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Current and deferred tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to pension plans are expensed when paid.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 29 September 2023 175,060 60,461 235,521
Additions - 54,960 54,960
Disposals - (27,496) (27,496)
At 28 September 2024 175,060 87,925 262,985
Depreciation
At 29 September 2023 - 41,778 41,778
Charge for the year - 4,967 4,967
On disposals - (23,602) (23,602)
At 28 September 2024 - 23,143 23,143
Net book value
At 28 September 2024 175,060 64,782 239,842
At 28 September 2023 175,060 18,683 193,743
4 Debtors 2024 2023
£ £
Trade debtors 6,303 2,174
Other debtors 20,149 20,000
26,452 22,174
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 190,147 191,899
Taxation and social security costs 77,690 90,002
Other creditors 29,843 29,843
297,680 311,744
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 152,961 185,426
7 Other information
COMPADVANCE Ltd is a private company limited by shares and incorporated in England. Its registered office is:
128 City Road
London
EC1V 2NX
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