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REGISTERED NUMBER: 06894163 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

COMPASS FINANCIAL (UK) LIMITED

COMPASS FINANCIAL (UK) LIMITED (REGISTERED NUMBER: 06894163)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


COMPASS FINANCIAL (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: A K Stubbings
T R Perry
R A Green





REGISTERED OFFICE: Building One
Manchester Green
Manchester
M22 5LW





REGISTERED NUMBER: 06894163 (England and Wales)





AUDITORS: Wyatt Morris Golland Ltd
Statutory Auditors
Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ

COMPASS FINANCIAL (UK) LIMITED (REGISTERED NUMBER: 06894163)

ABRIDGED BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 5,957,064
Tangible assets 5 71,428 79,122
71,428 6,036,186

CURRENT ASSETS
Debtors 1,813,141 427,915
Cash at bank 476,296 74,471
2,289,437 502,386
CREDITORS
Amounts falling due within one year 683,661 1,353,417
NET CURRENT ASSETS/(LIABILITIES) 1,605,776 (851,031 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,677,204

5,185,155

CREDITORS
Amounts falling due after more than one year 6 - (4,235,315 )

PROVISIONS FOR LIABILITIES 8 (51,055 ) (48,362 )
NET ASSETS 1,626,149 901,478

CAPITAL AND RESERVES
Called up share capital 9 4,098 4,001
Share premium 1,016,819 1,016,819
Capital redemption reserve 160 160
Retained earnings 605,072 (119,502 )
SHAREHOLDERS' FUNDS 1,626,149 901,478

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 28 February 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 June 2025 and were signed on its behalf by:





R A Green - Director


COMPASS FINANCIAL (UK) LIMITED (REGISTERED NUMBER: 06894163)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1. STATUTORY INFORMATION

Compass Financial (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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Compass Financial (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid on connection with the acquisition of various businesses is being amortised evenly over the estimated useful economic lives of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance and 20% on cost
Computer equipment - 33% on cost and 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2024 - 25 ) .

COMPASS FINANCIAL (UK) LIMITED (REGISTERED NUMBER: 06894163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2024 7,011,636
Additions 912,460
Disposals (7,924,096 )
At 28 February 2025 -
AMORTISATION
At 1 March 2024 1,054,572
Amortisation for year 123,813
Eliminated on disposal (1,178,385 )
At 28 February 2025 -
NET BOOK VALUE

At 28 February 2025 -
At 29 February 2024 5,957,064

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2024 211,540
Additions 27,680
Disposals (2,066 )
At 28 February 2025 237,154
DEPRECIATION
At 1 March 2024 132,418
Charge for year 33,308
At 28 February 2025 165,726
NET BOOK VALUE
At 28 February 2025 71,428
At 29 February 2024 79,122

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2025 2024
£    £   
Repayable otherwise than by instalments
Deferred goodwill payments - 237,646

Repayable by instalments
Bank loans more 5 yr by instal - 994,128

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Between one and five years 141,019 133,830

COMPASS FINANCIAL (UK) LIMITED (REGISTERED NUMBER: 06894163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

8. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 16,055 13,362
Other provisions 35,000 35,000
51,055 48,362

Deferred Other
tax provisions
£    £   
Balance at 1 March 2024 13,362 35,000
Provided during year 2,693 -
Balance at 28 February 2025 16,055 35,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £ £
215 Ordinary A £1 215 215
215 Ordinary B £1 215 215
214 Ordinary C £1 214 160
129 Ordinary D £1 129 86
3,325 Ordinary G £1 3,325 3,325
4,098 4,001

The following shares were issued during the year for cash at par:
- 54 Ordinary C shares of £1
- 43 Ordinary D shares of £1

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

The Report of the Auditors was unqualified.

Christian Morris BSc ACA (Senior Statutory Auditor)
for and on behalf of Wyatt Morris Golland Ltd

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

2025 2024
£    £   
A K Stubbings
Balance outstanding at start of year - 66,500
Amounts repaid - (66,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

12. ULTIMATE CONTROLLING PARTY

The company is controlled by N. F. W. McKee who owns 91.63% of the issued share capital of the Holding company which owns 100% of the issue share capital of the company.