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Company No: 04276113 (England and Wales)

# COMPASS POINT (CARBIS BAY) MANAGEMENT LIMITED

### Unaudited Financial Statements
For the financial year ended 24 March 2025
Pages for filing with the registrar

COMPASS POINT (CARBIS BAY) MANAGEMENT LIMITED

## Unaudited Financial Statements

For the financial year ended 24 March 2025

Contents

COMPASS POINT (CARBIS BAY) MANAGEMENT LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 24 March 2025
COMPASS POINT (CARBIS BAY) MANAGEMENT LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 24 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Current assets |  |  |  |
Debtors | 3 | 50,535 |  | 22,464
Cash at bank and in hand |  | 28,349 |  | 20,081
|  | 78,884 |  | 42,545
Creditors: amounts falling due within one year | 4 | ( 43,325) |  | ( 32,236)
Net current assets |  | 35,559 |  | 10,309
Total assets less current liabilities |  | 35,559 |  | 10,309
Net assets |  | 35,559 |  | 10,309
Capital and reserves |  |  |  |
Called-up share capital | 5 | 38 |  | 38
Profit and loss account |  | 35,521 |  | 10,271
Total shareholders' funds |  | 35,559 |  | 10,309

For the financial year ending 24 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Compass Point (Carbis Bay) Management Limited (registered number: 04276113) were approved and authorised for issue by the Board of Directors on 09 October 2025. They were signed on its behalf by:

Mrs M J Bowden Director |

COMPASS POINT (CARBIS BAY) MANAGEMENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 24 March 2025
COMPASS POINT (CARBIS BAY) MANAGEMENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 24 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Compass Point (Carbis Bay) Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Chy Nyverow, Newham Road, Truro, TR1 2DP, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 30,007 |  | 4,475
Prepayments | 20,528 |  | 17,989
| 50,535 |  | 22,464

#### 4. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 21,225 |  | 29,883
Accruals and deferred income | 22,100 |  | 1,278
Other creditors | 0 |  | 1,075
| 43,325 |  | 32,236

#### 5. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
38 Ordinary shares of £ 1.00 each | 38 |  | 38