REGISTERED NUMBER: 04777125 (England and Wales)

Compass Independent Financial Services

Limited

Unaudited Financial Statements for the Year Ended 30 April 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

J R Hughes

Mrs M K Clough

C B E Griffin

Secretary:

Mrs J D Hughes

Registered office:

1 Doctors Road

Blofield

Norwich

Norfolk

NR13 4LF

Registered number:

04777125 (England and Wales)

Accountants:

Fairhead Bradford

5 Queen Street

Great Yarmouth

Norfolk

NR30 2QP

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

158,145

128,933

Investments

6

-

100

158,145

129,033

Current assets

Debtors

7

15,616

15,269

Cash at bank

1,078,122

998,328

1,093,738

1,013,597

Creditors

Amounts falling due within one year

8

124,746

101,541

Net current assets

968,992

912,056

Total assets less current liabilities

1,127,137

1,041,089

Provisions for liabilities

10,593

11,123

Net assets

1,116,544

1,029,966

Capital and reserves

Called up share capital

121

119

Share premium

2,921

-

Capital redemption reserve

107

107

Retained earnings

1,113,395

1,029,740

1,116,544

1,029,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2026 and were signed on its behalf by:

J R Hughes - Director

1.	Statutory information

Compass Independent Financial Services Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

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

Turnover

Turnover represents the fair value of consideration receivable for independent financial advisory and related consultancy services provided in the ordinary course of business, net of value added tax and trade discounts.

Turnover is recognised when services are provided to the customer and the company becomes entitled to consideration for the services performed. Fee income relating to ongoing advisory services is recognised over the period in which the services are provided.

Where the outcome of a transaction cannot be measured reliably, turnover is recognised only to the extent of recoverable expenses incurred

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Taxation

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

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

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.

3.	Employees and directors

The average number of employees during the year was 11 (2025 - 10 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 May 2025

and 30 April 2026

67,830

Amortisation

At 1 May 2025

and 30 April 2026

67,830

Net book value

At 30 April 2026

-

At 30 April 2025

-

5.	Tangible fixed assets

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 May 2025

34,447

169,560

75,529

279,536

Additions

11,453

56,745

14,123

82,321

At 30 April 2026

45,900

226,305

89,652

361,857

Depreciation

At 1 May 2025

25,960

50,683

73,960

150,603

Charge for year

2,994

43,906

6,209

53,109

At 30 April 2026

28,954

94,589

80,169

203,712

Net book value

At 30 April 2026

16,946

131,716

9,483

158,145

At 30 April 2025

8,487

118,877

1,569

128,933

6.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 May 2025

100

Disposals

(100

)

At 30 April 2026

-

Net book value

At 30 April 2026

-

At 30 April 2025

100

7.

Debtors: amounts falling due within one year

30/4/26

30/4/25

£

£

Other debtors

15,616

15,269

8.

Creditors: amounts falling due within one year

30/4/26

30/4/25

£

£

Trade creditors

729

209

Taxation and social security

120,864

98,794

Other creditors

3,153

2,538

124,746

101,541