| COMPSOC LTD |
| Notes to the Accounts |
| for the period from 29 November 2024 to 30 November 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Going concern |
|
The accounts have been prepared on a going concern basis even though this basis may not be approriate as the company made a loss in the period and had a net liabilities position at the year end. However the directors believe that the company will continue its operating existence in the foreseeable future as they have pledged to continue to provide working capital and support to the company in order to meet its obligations as they fall due and not call in their interest free loans advanced to the company until is in a position to pay. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Land and buildings |
over the lease term of 10 years |
|
Plant and machinery |
20% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2025 |
|
| Number |
|
|
|
Average number of persons employed by the company |
0 |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
Additions |
253,676 |
|
12,640 |
|
266,316 |
|
At 30 November 2025 |
253,676 |
|
12,640 |
|
266,316 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
Charge for the period |
2,114 |
|
211 |
|
2,325 |
|
At 30 November 2025 |
2,114 |
|
211 |
|
2,325 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2025 |
251,562 |
|
12,429 |
|
263,991 |
|
|
| 4 |
Debtors |
2025 |
|
| £ |
|
|
|
Other debtors |
200,684 |
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
| £ |
|
|
|
Trade creditors |
190,292 |
|
Other creditors |
326,406 |
|
|
|
|
|
|
516,698 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other financial commitments |
2025 |
|
| £ |
|
|
|
Total future minimum payments under non-cancellable operating leases |
|
1,000,000 |
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
COMPSOC LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
12 Pembroke Road |
|
London |
|
W8 6NT |