Company registration number 08398453 (England and Wales)
COMPIO LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
COMPIO LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4 - 7
COMPIO LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 1 -
The director presents his annual report and financial statements for the year ended 28 February 2025.
Principal activities
The principal activity of the company continued to be that of IT services and support.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr R D Davies
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr R D Davies
Director
13 June 2025
COMPIO LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF COMPIO LIMITED
- 2 -
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 28 February 2025.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Xeinadin South East Ltd
2 Upperton Gardens
Eastbourne
East Sussex
BN21 2AH
United Kingdom
13 June 2025
COMPIO LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 3 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,579
4,615
Current assets
Stocks
394
1,185
Debtors
4
63,504
80,236
Cash at bank and in hand
44,612
66,884
108,510
148,305
Creditors: amounts falling due within one year
5
(84,675)
(91,872)
Net current assets
23,835
56,433
Total assets less current liabilities
30,414
61,048
Creditors: amounts falling due after more than one year
6
(16,982)
-
Net assets
13,432
61,048
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
13,232
60,848
Total equity
13,432
61,048
For the financial year ended 28 February 2025 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 of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 13 June 2025
Mr R D Davies
Director
Company registration number 08398453 (England and Wales)
COMPIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
1
Accounting policies
Company information
Compio 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.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on reducing balance
Computers
Straight line over 3 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
COMPIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax has not been recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. The directors do not believe that this is necessary and accept this accounting treatment does not comply with Financial Reporting Standard 102.
1.6
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.
1.7
Leases
As lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
6
5
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 March 2024
1,598
30,250
31,848
Additions
459
4,737
5,196
At 28 February 2025
2,057
34,987
37,044
Depreciation and impairment
At 1 March 2024
1,330
25,903
27,233
Depreciation charged in the year
182
3,050
3,232
At 28 February 2025
1,512
28,953
30,465
COMPIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
(Continued)
- 6 -
Carrying amount
At 28 February 2025
545
6,034
6,579
At 29 February 2024
268
4,347
4,615
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
6,103
30,532
Other debtors
57,401
49,704
63,504
80,236
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
11,980
22,485
Corporation tax
11,063
13,277
Other taxation and social security
16,222
19,766
Other creditors
45,410
36,344
84,675
91,872
6
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
16,982
7
Related party transactions
Transactions with related parties
During the year the Company traded with Compio Enterprises Ltd, a Company controlled by common Directorate.
Name of related party
Nature of relationship
Entities with control, joint control or significant influence over the company
COMPIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
7
Related party transactions
(Continued)
- 7 -
Description of
Income
Payments
transaction
2025
2024
2025
2024
£
£
£
£
Entities with control, joint control or significant influence over the company
Services provided during the year
179,166
137,500
215,000
165,000
8
Parent company
Compio Ltd has a controlling party, as it is a subsidiary of Compio Enterprises Ltd.