COMPASS BC PROPERTY LIMITED


Director	LEAF, Daniel Robert


Registered Address	4 Foxoak Park
	Common Road
	York
	YO19 5RZ


Registered Number	11103946 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Current assets
Debtors		15,010		27,435
Cash at bank and on hand		2,748		1,995
		17,758		29,430
Creditors amounts falling due within one year	4	(13,351)		(13,322)
Net current assets (liabilities)			4,407		16,108
Total assets less current liabilities			4,407		16,108
Creditors amounts falling due after one year	5		(5,873)		(15,521)
Net assets			(1,466)		587
Capital and reserves
Called up share capital			100		100
Profit and loss account			(1,566)		487
Shareholders' funds			(1,466)		587

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their 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 provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 20 February 2025, and are signed on its behalf by:

LEAF, Daniel Robert
Director
Registered Company No. 11103946

COMPASS BC PROPERTY LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Basis of preparation
	The financial statements have been prepared on the historical cost basis.

	Functional and presentation currency
	The financial statements are presented in sterling, which is the functional currency of the entity.

	Going concern
	Following the challenges arising as a consequence of the Covid-19 pandemic in 2020/21, more latterly the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company’s trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

Going concern

Following the challenges arising as a consequence of the Covid-19 pandemic in 2020/21, more latterly the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine.  All these matters have impacted the company’s trading results to a greater or lesser extent.  At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future.  On this basis, the directors have prepared these financial statements on a going concern basis.

	Revenue from sale of goods
	Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Employee benefits

Contributions to defined contribution plans are expensed in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

	Current taxation
	The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount of tax expected to pay or recover using the tax rates and laws that have been enacted, or substantively enacted, at the reporting date.

Current taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount of tax expected to pay or recover using the tax rates and laws that have been enacted, or substantively enacted, at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted, or substantively enacted, by the reporting date that are expected to apply to the reversal of the timing difference.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted, or substantively enacted, by the reporting date that are expected to apply to the reversal of the timing difference.

	Tangible fixed assets and depreciation
	Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Financial instruments
	Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	0		0

3.	Impairment of tangible fixed assets
	Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after after deducting all of its liabilities.

4.	Creditors: amounts due within one year

	2024	2023
	£	£
Bank borrowings and overdrafts	9,648	9,648
Amounts owed to related parties	3,162	2,958
Taxation and social security	-	78
Accrued liabilities and deferred income	541	638
Total	13,351	13,322

5.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	5,873	15,521
Total	5,873	15,521

6.	Related party transactions
	During the year the director loaned monies to the company. This loan is interest free and repayable on demand. At the year end the balance of the loan was £3,162 (2023 - £2,958).