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REGISTERED NUMBER: 08365897 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

COMPWIZ LTD

COMPWIZ LTD (REGISTERED NUMBER: 08365897)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMPWIZ LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: Mr L Wisniewski
Mrs I Wisniewska



REGISTERED OFFICE: Claylands House
Alders Way
Yalberton Industrial Estate
Paignton
Devon
TQ4 7QL



REGISTERED NUMBER: 08365897 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: HSBC
14 Fore Street
St Marychurch
Torquay
TQ1 4ND

COMPWIZ LTD (REGISTERED NUMBER: 08365897)

BALANCE SHEET
31 JANUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,507 7,312
5,507 7,312

CURRENT ASSETS
Stocks 6 16,500 14,800
Debtors 7 115,823 86,537
132,323 101,337
CREDITORS
Amounts falling due within one year 8 104,987 65,025
NET CURRENT ASSETS 27,336 36,312
TOTAL ASSETS LESS CURRENT LIABILITIES 32,843 43,624

CREDITORS
Amounts falling due after more than one
year

9

(30,109

)

(39,041

)

PROVISIONS FOR LIABILITIES (1,377 ) (1,389 )
NET ASSETS 1,357 3,194

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 1,347 3,184
SHAREHOLDERS' FUNDS 1,357 3,194

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

COMPWIZ LTD (REGISTERED NUMBER: 08365897)

BALANCE SHEET - continued
31 JANUARY 2025


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 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 23 July 2025 and were signed on its behalf by:





Mr L Wisniewski - Director


COMPWIZ LTD (REGISTERED NUMBER: 08365897)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025


1. STATUTORY INFORMATION

Compwiz Ltd 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.

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 in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

COMPWIZ LTD (REGISTERED NUMBER: 08365897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2024
and 31 January 2025 29,000
AMORTISATION
At 1 February 2024
and 31 January 2025 29,000
NET BOOK VALUE
At 31 January 2025 -
At 31 January 2024 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2024 325 15,779 55,823 71,927
Additions 385 - - 385
Disposals - - (8,587 ) (8,587 )
At 31 January 2025 710 15,779 47,236 63,725
DEPRECIATION
At 1 February 2024 282 9,123 55,210 64,615
Charge for year 86 1,664 440 2,190
Eliminated on disposal - - (8,587 ) (8,587 )
At 31 January 2025 368 10,787 47,063 58,218
NET BOOK VALUE
At 31 January 2025 342 4,992 173 5,507
At 31 January 2024 43 6,656 613 7,312

COMPWIZ LTD (REGISTERED NUMBER: 08365897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2024
and 31 January 2025 15,779
DEPRECIATION
At 1 February 2024 9,123
Charge for year 1,664
At 31 January 2025 10,787
NET BOOK VALUE
At 31 January 2025 4,992
At 31 January 2024 6,656

6. STOCKS
2025 2024
£    £   
Stocks 16,500 14,800

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 10,973 5,519
Amounts owed by associates 1,916 -
Amounts recoverable on contract 18,500 20,000
Directors' current accounts 73,412 48,294
Tax 9,861 10,990
Prepayments 1,161 1,734
115,823 86,537

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 8,716 8,281
Hire purchase contracts 3,405 2,935
Trade creditors 5,894 4,024
Amounts owed to associates - 652
Tax 36,851 23,156
VAT 15,018 10,376
Other creditors 32,615 13,346
Accrued expenses 2,488 2,255
104,987 65,025

COMPWIZ LTD (REGISTERED NUMBER: 08365897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans - 2-5 years 28,939 34,153
Hire purchase contracts 1,170 4,888
30,109 39,041

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024:

2025 2024
£    £   
Mr L Wisniewski and Mrs I Wisniewska
Balance outstanding at start of year 48,294 54,975
Amounts advanced 147,988 94,418
Amounts repaid (122,870 ) (101,099 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 73,412 48,294

Loans are charged an interest rate of 2%.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £74,800 (2024 - £15,000) were paid to the directors .

During the year, the company rented the directors personal residence under a Licence to Occupy agreement for £2,542, (2024 : £3,491).

12. BOUNCE BACK LOAN

The bounce back loan is 100% guaranteed by the government and has a term of 6 years which runs to September 2026.