Acorah Software Products - Accounts Production 16.4.660 false true 31 December 2023 1 January 2023 false true No description of principal activity 1 January 2024 31 December 2024 31 December 2024 04284518 Mr Christopher Winnett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04284518 2023-12-31 04284518 2024-12-31 04284518 2024-01-01 2024-12-31 04284518 frs-core:CurrentFinancialInstruments 2024-12-31 04284518 frs-core:Non-currentFinancialInstruments 2024-12-31 04284518 frs-core:BetweenOneFiveYears 2024-12-31 04284518 frs-core:WithinOneYear 2024-12-31 04284518 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04284518 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 04284518 frs-bus:Micro-entities 2024-01-01 2024-12-31 04284518 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04284518 frs-bus:Director1 2024-01-01 2024-12-31 04284518 frs-bus:Director1 2023-12-31 04284518 frs-bus:Director1 2024-12-31 04284518 2022-12-31 04284518 2023-12-31 04284518 2023-01-01 2023-12-31 04284518 frs-core:CurrentFinancialInstruments 2023-12-31 04284518 frs-core:Non-currentFinancialInstruments 2023-12-31 04284518 frs-core:BetweenOneFiveYears 2023-12-31 04284518 frs-core:WithinOneYear 2023-12-31
Registered number: 04284518
Compass Financial Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
1 Accounts Online Ltd
Office 117
The Epicentre
Haverhill
Suffolk
CB9 7LR
Balance Sheet
Registered number: 04284518
2024 2023
£ £
Fixed assets 863,713 117,986
Current assets 139,250 100,271
Prepayments and accrued income 4,080 4,080
Creditors: Amounts Falling Due Within One Year (189,559 ) (26,870 )
NET CURRENT ASSETS (LIABILITIES) (46,229 ) 77,481
TOTAL ASSETS LESS CURRENT LIABILITIES 817,484 195,467
Creditors: Amounts Falling Due After More Than One Year (630,760 ) (137,724 )
Provisions for liabilities (1,433 ) (362 )
Accruals and deferred income (232,773 ) (96,156 )
NET LIABILITIES (47,482 ) (38,775 )
CAPITAL AND RESERVES (47,482 ) (38,775 )

Notes

1. General Information
Compass Financial Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04284518 . The registered office is Office 117 The Epicentre, Enterprise Way, Haverhill, Suffolk, CB9 7LR.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 6)
9 6
3. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 2,002 1,234
Later than one year and not later than five years 7,506 3,701
9,508 4,935
4. Directors Advances, Credits and Guarantees
Included within debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Christopher Winnett 11,220 46,780 (30,952 ) - 27,048
The above loan is unsecured, interest free on credit balances and 2.25% (2023: 2%) on debit balances over £10,000 and repayable on demand.
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The director Mr C Winnett has provided a personal guarentee to cover loans, who's balances at the year end were £725,750 (2023: £104,519).
5. Going Concern Disclosure
Despite the current liabilities and overdrawn balance sheet as a whole, the business has continued due to the director providing funding to the company and additional investment is currently being sought to strengthen the finances further. The director is also committed to continuing to support the business in the meantime, so the accounts have been completed on the going concern basis.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Christopher Winnett
Director
15 July 2025