Company No:
Contents
| Director | J Sandelson |
| Registered office | 2nd Floor 168 Shoreditch High Street |
| London | |
| United Kingdom |
| Company number | 13602473 (England and Wales) |
| Accountant | Kreston Reeves LLP |
| 2nd Floor | |
| 168 Shoreditch High Street | |
| London | |
| E1 6RA |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Restated - note 2 | ||||
| Fixed assets | ||||
| Tangible assets | 4 |
|
|
|
| 4,593 | 3,298 | |||
| Current assets | ||||
| Debtors | 5 |
|
|
|
| Cash at bank and in hand | 6 |
|
|
|
| 99,313 | 133,260 | |||
| Creditors: amounts falling due within one year | 7 | (
|
(
|
|
| Net current assets | 47,793 | 31,510 | ||
| Total assets less current liabilities | 52,386 | 34,808 | ||
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital | 8 |
|
|
|
| Profit and loss account |
|
|
||
| Total shareholder's funds |
|
|
Director's responsibilities:
The financial statements of Compound Re Strategies Limited (registered number:
|
J Sandelson
Director |
The principal activity of the company is that of property management services.
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Compound Re Strategies Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor 168 Shoreditch High Street, London, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following
conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Defined contribution schemes
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
| Computer equipment |
|
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
During the current year, it was identified that an amount of £15,000 relating to directors’ remuneration was omitted from the prior year’s financial statements in error.
In the prior year:
- £13,000 of this amount was incorrectly classified as a dividend.
- £2,000 was wrongly attributed to the director’s loan account.
This misstatement has now been corrected by:
- Reclassifying the full £15,000 as directors’ remuneration within administrative expenses.
- Reducing the prior year’s dividends and director’s loan account accordingly.
Effects of the Adjustment:
- Administrative expenses in the prior year have increased by £15,000.
- Other debtors have decreased by £2,000.
- The Statement of Changes in Equity
has been restated to reflect a revised prior year profit of £1,490 and remove the previously recorded dividend of £13,000.
This correction has been applied retrospectively, and the comparative figures have been restated accordingly to ensure the financial statements present a true and fair view.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
|
|
| Computer equipment | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 October 2023 |
|
|
|
| Additions |
|
|
|
| At 30 September 2024 |
|
|
|
| Accumulated depreciation | |||
| At 01 October 2023 |
|
|
|
| Charge for the financial year |
|
|
|
| At 30 September 2024 |
|
|
|
| Net book value | |||
| At 30 September 2024 |
|
|
|
| At 30 September 2023 |
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Amounts owed by Group undertakings |
|
|
|
| Prepayments |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Cash at bank and in hand |
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
|
|
|
| Accruals |
|
|
|
| Taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
During the year, Compound Re Strategies paid expenses on behalf of CSS Management Services Ltd of the amount £98,738 (2023: £10,718). Compound Re Strategies also received £53,456 on behalf of CSS Management Services Limited (2023: Nil). The company was owed £56,000 (2023: £10,718). These figures are included in 'Amounts owed by group undertakings' in ' Debtors: due within one year'.
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable in respect of the year. The pension liability at the year end was £837 (2023: £Nil) and the total pension costs were £3,965 (2023: £2,637).
The company is under the control of its Director, J Sandelson, who owns 80% of the issued share capital.