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Company No: 06655047 (England and Wales)

# COMPOS MENTIS PRODUCTIONS LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

COMPOS MENTIS PRODUCTIONS LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

COMPOS MENTIS PRODUCTIONS LIMITED

## COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
COMPOS MENTIS PRODUCTIONS LIMITED

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

DIRECTORS | F Bavinton
| C Cahill

REGISTERED OFFICE | Wey Court West
| Union Road
| Farnham
| Surrey GU9 7PT
| United Kingdom

COMPANY NUMBER | 06655047 (England and Wales)

ACCOUNTANT | Shaw Gibbs Limited
| Wey Court West
| Union Road
| Farnham
| Surrey
| GU9 7PT

COMPOS MENTIS PRODUCTIONS LIMITED

## STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2024
COMPOS MENTIS PRODUCTIONS LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

AS AT 31 MARCH 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 281 |  | 1,205
Tangible assets | 4 | 9,247 |  | 14,400
|  | 9,528 |  | 15,605
Current assets |  |  |  |
Debtors | 5 | 9,116 |  | 6,000
Cash at bank and in hand |  | ( 14,622) |  | 20,263
|  | (5,506) |  | 26,263
Creditors: amounts falling due within one year | 6 | ( 30,200) |  | ( 55,358)
Net current liabilities |  | (35,706) |  | (29,095)
Total assets less current liabilities |  | (26,178) |  | (13,490)
Creditors: amounts falling due after more than one year | 7 | ( 6,492) |  | ( 17,340)
Provision for liabilities | 8 | ( 1,757) |  | ( 2,736)
Net liabilities |  | ( 34,427) |  | ( 33,566)
Capital and reserves |  |  |  |
Called-up share capital |  | 2 |  | 2
Profit and loss account |  | ( 34,429 ) |  | ( 33,568 )
Total shareholders' deficit |  | ( 34,427) |  | ( 33,566)

For the financial year ending 31 March 2024 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 Compos Mentis Productions Limited (registered number: 06655047) were approved and authorised for issue by the Board of Directors on 04 December 2025. They were signed on its behalf by:

C Cahill Director |

COMPOS MENTIS PRODUCTIONS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
COMPOS MENTIS PRODUCTIONS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

##### 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

Compos Mentis Productions 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 Wey Court West, Union Road, Farnham, Surrey GU9 7PT, 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

At the year end the company has net liabilities of £34,769 (2023 : £33,566). As noted in last year's accounts the company's performance has improved post covid and continues to do so. The directors continue to support the company and have therefore determined that the company continues to be a going concern

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### 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.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets | 10 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 25 % reducing balance
Computer equipment | 4 years straight line

##### Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Intangible assets

| Other intangible assets |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2023 | 14,861 |  | 14,861
At 31 March 2024 | 14,861 |  | 14,861
Accumulated amortisation |  |  |
At 01 April 2023 | 13,656 |  | 13,656
Charge for the financial year | 924 |  | 924
At 31 March 2024 | 14,580 |  | 14,580
Net book value |  |  |
At 31 March 2024 | 281 |  | 281
At 31 March 2023 | 1,205 |  | 1,205

#### 4. Tangible assets

| Plant and machinery |  | Computer equipment |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 April 2023 | 26,500 |  | 66,930 |  | 93,430
Additions | 29 |  | 1,711 |  | 1,740
Disposals | ( 23,920) |  | 0 |  | ( 23,920)
At 31 March 2024 | 2,609 |  | 68,641 |  | 71,250
Accumulated depreciation |  |  |  |  |
At 01 April 2023 | 23,894 |  | 55,136 |  | 79,030
Charge for the financial year | 508 |  | 5,802 |  | 6,310
Disposals | ( 23,337) |  | 0 |  | ( 23,337)
At 31 March 2024 | 1,065 |  | 60,938 |  | 62,003
Net book value |  |  |  |  |
At 31 March 2024 | 1,544 |  | 7,703 |  | 9,247
At 31 March 2023 | 2,606 |  | 11,794 |  | 14,400

#### 5. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 9,116 |  | 6,000

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

| 2024 |  | 2023
| £ |  | £
Bank loans | 2,348 |  | 2,348
Trade creditors | 0 |  | 74
Corporation tax | 2,900 |  | 1,861
Other taxation and social security | 8,196 |  | 22,897
Other creditors | 16,756 |  | 28,178
| 30,200 |  | 55,358

#### 7. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 6,492 |  | 7,786
Other loans | 0 |  | 9,554
| 6,492 |  | 17,340

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Deferred tax

| 2024 |  | 2023
| £ |  | £
At the beginning of financial year | ( 2,736) |  | ( 3,630)
Credited to the Statement of Income and Retained Earnings | 979 |  | 894
At the end of financial year | ( 1,757) |  | ( 2,736)