REGISTERED NUMBER: 13272290 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

FOR

COMPASS MOULDINGS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D A Bowie

Mr R Bowie

Mr A Bowie

Mr D R Bowie

REGISTERED OFFICE:

Northpoint

Compass Park

Junction Road

Bodiam

East Sussex

TN32 5BS

REGISTERED NUMBER:

13272290 (England and Wales)

AUDITORS:

Honey Barrett (Audit) Ltd, Statutory Auditors

53 Gildredge Road

Eastbourne

East Sussex

BN21 4SF

FIXED ASSETS

Tangible assets

6

490,761

534,791

CURRENT ASSETS

Stocks

7

89,165

65,620

Debtors

8

510,727

1,311,016

Cash at bank

110,166

93,946

710,058

1,470,582

CREDITORS

Amounts falling due within one year

9

254,190

477,759

NET CURRENT ASSETS

455,868

992,823

TOTAL ASSETS LESS CURRENT LIABILITIES

946,629

1,527,614

CREDITORS

Amounts falling due after more than one year

10

(79,427

)

(119,896

)

PROVISIONS FOR LIABILITIES

13

(66,905

)

(65,667

)

NET ASSETS

800,297

1,342,051

CAPITAL AND RESERVES

Called up share capital

14

100

100

Retained earnings

800,197

1,341,951

SHAREHOLDERS' FUNDS

800,297

1,342,051

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 23 June 2025 and were signed on its behalf by:

Mr D A Bowie - Director

1.	STATUTORY INFORMATION

Compass Mouldings 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the invoiced value of plastic mouldings sold during the year. This is net of settlement discounts and value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, which is considered to be on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred in respect of the transaction can be reliably measured.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machiney

- 15% on cost

Fixtures and fittings

- 25% on cost

Computer equipment

- 25% on cost

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

The cash-generating unit is the smallest identifiable group of assets that include the asset and generates cash inflows that are largely independent of the cash inflows from other assets or group of assets.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

Pension costs and other post-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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

5.	AUDITORS' REMUNERATION

2024

2023

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

12,600

12,000

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Equipment

Totals

£

£

£

£

COST

At 1 January 2024

639,160

-

-

639,160

Additions

50,925

939

1,777

53,641

At 31 December 2024

690,085

939

1,777

692,801

DEPRECIATION

At 1 January 2024

104,369

-

-

104,369

Charge for year

97,603

12

56

97,671

At 31 December 2024

201,972

12

56

202,040

NET BOOK VALUE

At 31 December 2024

488,113

927

1,721

490,761

At 31 December 2023

534,791

-

-

534,791

7.

STOCKS

2024

2023

£

£

Stocks

89,165

65,620

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

103,979

82,818

Amounts owed by group undertakings

307,199

1,227,773

VAT

98,745

-

Prepayments and accrued income

804

425

510,727

1,311,016

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 11)

61,954

56,512

Trade creditors

53,085

125,615

Corporation tax

86,258

224,697

PAYE and social security

9,589

8,767

VAT

-

34,082

Other creditors

164

1,924

Accruals and deferred income

43,140

26,162

254,190

477,759

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 11)

79,427

119,896

11.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

61,954

56,512

Between one and five years

79,427

119,896

141,381

176,408

Non-cancellable

operating leases

2024

2023

£

£

Within one year

10,058

-

Between one and five years

40,234

-

50,292

-

12.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

141,381

-

The hire purchase agreements are secured against the assets held under such agreements

13.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

66,905

65,667

Deferred

tax

£

Balance at 1 January 2024

65,667

Provided during year

1,238

Change in deferred tax rate

Balance at 31 December 2024

66,905

14.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

15.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Louise Underdown ACA (Senior Statutory Auditor)

for and on behalf of Honey Barrett (Audit) Ltd, Statutory Auditors

16.	RELATED PARTY DISCLOSURES

Related companies

The company has taken advantage of the exemption conferred by Section 1 FRS102 from disclosing transactions covered by Section 33 FRS102, namely any entered into between two or more members of the group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

17.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is North Park Group Limited of Northpoint Compass Park, Junction Road, Bodiam, East Sussex, TN32 5BS, a company incorporated in England & Wales.

The immediate parent company is Global Green Infrastructure Group Limited of Northpoint Compass Park, Junction Road, Bodiam, East Sussex, TN32 5BS, a company incorporated in England & Wales.

These accounts will be included in the group accounts of North Park Group Limited, North Point Park Limited and Global Green Infrastructure Group Limited. Copies of the group accounts of North Park Group Ltd, North Point Park Ltd and Global Green Infrastructure Group Ltd can be obtained from Companies House.