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REGISTERED NUMBER: 10786434 (England and Wales)


















COMPASS PROPERTY DEVELOPMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024






COMPASS PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 10786434)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMPASS PROPERTY DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024







DIRECTORS: T C Davies
B J Davis





REGISTERED OFFICE: Unit 5 Benning Court
Pottington Business Park
Barnstaple
EX31 1AB





REGISTERED NUMBER: 10786434 (England and Wales)





ACCOUNTANTS: MHA (trading name of MHA Advisory Ltd)
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

COMPASS PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 10786434)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 835,697 820,761
Investments 5 158,184 265,780
Investment property 6 2,504,001 1,820,772
3,497,882 2,907,313

CURRENT ASSETS
Debtors 7 1,443,484 943,541
Cash at bank 4,707 130,074
1,448,191 1,073,615
CREDITORS
Amounts falling due within one year 8 (2,065,412 ) (352,379 )
NET CURRENT (LIABILITIES)/ASSETS (617,221 ) 721,236
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,880,661

3,628,549

CREDITORS
Amounts falling due after more than one
year

9

-

(1,341,224

)
NET ASSETS 2,880,661 2,287,325

CAPITAL AND RESERVES
Called up share capital 10 101 101
Retained earnings 2,880,560 2,287,224
SHAREHOLDERS' FUNDS 2,880,661 2,287,325

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

COMPASS PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 10786434)

BALANCE SHEET - continued
31 OCTOBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2025 and were signed on its behalf by:





T C Davies - Director


COMPASS PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 10786434)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024


1. STATUTORY INFORMATION

Compass Property Development 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102.

Turnover
The turnover shown in the profit and loss account represents rental income receivable during the year.

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 - 20% on reducing balance
Computer equipment - 33.33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

COMPASS PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 10786434)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property Fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 820,761 - - 820,761
Additions - 14,170 3,133 17,303
At 31 October 2024 820,761 14,170 3,133 838,064
DEPRECIATION
Charge for period - 2,106 261 2,367
At 31 October 2024 - 2,106 261 2,367
NET BOOK VALUE
At 31 October 2024 820,761 12,064 2,872 835,697
At 31 May 2023 820,761 - - 820,761

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023 265,780
Disposals (107,596 )
At 31 October 2024 158,184
NET BOOK VALUE
At 31 October 2024 158,184
At 31 May 2023 265,780

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 1,820,772
Additions 683,229
At 31 October 2024 2,504,001
NET BOOK VALUE
At 31 October 2024 2,504,001
At 31 May 2023 1,820,772

The investment property was valued on a fair value basis at 31 October 2024 by the director who does not have a formal valuation qualification. In valuing the property the director has considered the potential sales values.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,443,484 943,541

COMPASS PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 10786434)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 66,938
Trade creditors 175 -
Amounts owed to group undertakings 2,000,906 231,923
Other Taxes 29,956 -
Directors' current accounts - 4,481
Accruals and deferred income 34,375 49,037
2,065,412 352,379

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years - 1,341,224

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
1 Ordinary A £1 1 1
101 101