| Registered number: 03832407 | ||||||||
| FOR THE YEAR ENDED 31 DECEMBER 2024 | ||||||||
| Prepared By: | ||||||||
| Unsworth's Accountancy Services Ltd | ||||||||
| Chartered Certified | ||||||||
| 39 Stockwell Road | ||||||||
| East Grinstead | ||||||||
| West Sussex | ||||||||
| RH19 4BD | ||||||||
| Compass Vehicle Services Limited | ||||||||
| ACCOUNTS | ||||||||
| FOR THE YEAR ENDED 31 DECEMBER 2024 | ||||||||
| DIRECTORS | ||||||||
| SECRETARY | ||||||||
| REGISTERED OFFICE | ||||||||
| Kent | ||||||||
| COMPANY DETAILS | ||||||||
| Private company limited by shares registered in , registered number 03832407 | ||||||||
| ACCOUNTANTS | ||||||||
| Unsworth's Accountancy Services Ltd | ||||||||
| Chartered Certified | ||||||||
| 39 Stockwell Road | ||||||||
| East Grinstead | ||||||||
| West Sussex | ||||||||
| RH19 4BD | ||||||||
| Compass Vehicle Services Limited | ||||||||
| ACCOUNTS | ||||||||
| FOR THEYEARENDED31 DECEMBER 2024 | ||||||||
| CONTENTS | ||||||||
| Page | ||||||||
| Directors' Report | - | |||||||
| Accountants' Report | - | |||||||
| Statement Of Comprehensive Income | - | |||||||
| Balance Sheet | 3 | |||||||
| Notes To The Accounts | 4 | |||||||
| The following do not form part of the statutory financial statements: | ||||||||
| Trading And Profit And Loss Account | - | |||||||
| Profit And Loss Account Summaries | - | |||||||
| Compass Vehicle Services Limited | ||||||||
| BALANCE SHEET AT | ||||||||||
| 2024 | 2023 | |||||||||
| Notes | £ | £ | ||||||||
| FIXED ASSETS | ||||||||||
| Tangible assets | 2 | |||||||||
| CURRENT ASSETS | ||||||||||
| Debtors | 3 | |||||||||
| Cash at bank and in hand | ||||||||||
| 543,139 | 412,871 | |||||||||
| CREDITORS: Amounts falling due within one year | 4 | |||||||||
| NET CURRENT LIABILITIES | ( | (38,994) | ||||||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
| CREDITORS: Amounts falling due after more than one year | 5 | 571,482 | 338,358 | |||||||
| NET ASSETS | ||||||||||
| CAPITAL AND RESERVES | ||||||||||
| Called up share capital | 8 | |||||||||
| Profit and loss account | 991,694 | 1,015,709 | ||||||||
| SHAREHOLDERS' FUNDS | ||||||||||
| Approved by the board on | ||||||||||
| ............................. | ||||||||||
| Director | ||||||||||
| Compass Vehicle Services Limited | ||||||||
| NOTES TO THE ACCOUNTS | ||||||||||
| FOR THE YEAR ENDED 31 DECEMBER 2024 | ||||||||||
| 1. ACCOUNTING POLICIES |
| 1a. Basis Of Accounting | ||||||||
| The accounts have been prepared under the historical cost convention. | ||||||||
| The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . | ||||||||
| 1b. Depreciation | ||||||||
| Fixtures and Fittings | reducing balance 25% | |||||||
| Motor Cars | reducing balance 25% | |||||||
| 1c. Pension Costs | ||||||||
| The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. | ||||||||
| 2. TANGIBLE FIXED ASSETS | ||||||||||||||||
| Fixtures | ||||||||||||||||
| and Fittings | Equipment | Motor Cars | Total | |||||||||||||
| £ | £ | £ | £ | |||||||||||||
| Cost | ||||||||||||||||
| At 1 January 2024 | 37,779 | 7,576 | 2,505,950 | 2,551,305 | ||||||||||||
| Additions | - | - | 955,795 | 955,795 | ||||||||||||
| Disposals | - | - | (782,920) | (782,920) | ||||||||||||
| At 31 December 2024 | 37,779 | 7,576 | 2,678,825 | 2,724,180 | ||||||||||||
| Depreciation | ||||||||||||||||
| At 1 January 2024 | 30,025 | 7,576 | 1,110,643 | 1,148,244 | ||||||||||||
| Disposals | - | - | (522,910) | (522,910) | ||||||||||||
| For the year | 1,939 | - | 444,401 | 446,340 | ||||||||||||
| At 31 December 2024 | 31,964 | 7,576 | 1,032,134 | 1,071,674 | ||||||||||||
| Net Book Amounts | ||||||||||||||||
| At 31 December 2024 | 1,652,506 | |||||||||||||||
| At 31 December 2023 | 1,403,061 | |||||||||||||||
| The net book value of tangible fixed assets includes £1,233,732 (2023: £949,389) in repect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £554,941 (2023: £413,907). | ||||||||||||||||
| Compass Vehicle Services Limited | ||||||||
| 3. DEBTORS | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Amounts falling due within one year | ||||||||
| Trade debtors | 104,289 | 62,117 | ||||||
| PAYE control | 300 | - | ||||||
| Other debtors | 1,200 | 1,200 | ||||||
| Prepayments | 3,555 | 3,555 | ||||||
| Deferred taxation | 234,540 | 210,971 | ||||||
| 343,884 | 277,843 | |||||||
| 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| UK corporation tax | 25,288 | 71,209 | ||||||
| Other tax | 2,470 | 2,470 | ||||||
| VAT | 40,763 | 35,097 | ||||||
| Directors current account - GH | 36,320 | 320 | ||||||
| Directors current account - AL | 39,179 | 1,179 | ||||||
| Directors current account - BL | 20,000 | - | ||||||
| Bank Loan | 10,000 | 10,000 | ||||||
| Hire purchase | 429,999 | 321,551 | ||||||
| Trade creditors | 17,110 | 4,886 | ||||||
| Pension schemes | 505 | 383 | ||||||
| Accruals | 835 | 4,770 | ||||||
| 622,469 | 451,865 | |||||||
| Included in other creditors are amounts are obligations under finance leases due less than one year £429,999 (2023: £321,551). | ||||||||
| 5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| Bank loans (unsecured) >1yr | 5,834 | 15,833 | ||||||
| Hire purchase >1yr | 445,648 | 202,525 | ||||||
| Other creditors > 1yr | 120,000 | 120,000 | ||||||
| 571,482 | 338,358 | |||||||
| Included in other creditors are amounts are obligations under finance leases due more than one year of £445,648 (2023: £202,525) and a loan from the director, Mr A. Levy, of £120,000 (2023: £120,000). | ||||||||
| 6. EMPLOYEES | ||||||
| 2024 | 2023 | |||||
| No. | No. | |||||
| Average number of employees | 7 | |||||
| Compass Vehicle Services Limited | ||||||||
| 7. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Deferred taxation | (234,540) | (210,971) | ||||||
| 8. SHARE CAPITAL | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Allotted, issued and fully paid: | ||||||||
| 2400 | 2400 | |||||||
| 4500 | 4500 | |||||||
| 500 | 500 | |||||||
| 2400 | 2400 | |||||||
| 200 | 200 | |||||||
| 10,000 | 10,000 | |||||||
| 9. CONTROLLING PARTY | ||||||||
| There is no one controlling party. | ||||||||
| 10. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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