Compton Property Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00721663 (England and Wales)

Financial Statements for the Year Ended 31 October 2018

for

Compton Property Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Ballard

Mrs S R Ballard

SECRETARY:

Mrs S R Ballard

REGISTERED OFFICE:

45/51, Wychtree Street

Morriston

Swansea

SA6 8EX

REGISTERED NUMBER:

00721663 (England and Wales)

SENIOR STATUTORY AUDITOR:

Dylan Jones

AUDITORS:

Cambrian & Co Ltd

Chartered Accountants & Statutory Auditors

13a Victoria Gardens

Neath

West Glamorgan

SA11 3AY

FIXED ASSETS

Tangible assets

4

140,132

3,909

CURRENT ASSETS

Debtors

5

2,263,130

2,213,170

Cash at bank

31,451

37,348

2,294,581

2,250,518

CREDITORS

Amounts falling due within one year

6

69,672

87,562

NET CURRENT ASSETS

2,224,909

2,162,956

TOTAL ASSETS LESS CURRENT LIABILITIES

2,365,041

2,166,865

PROVISIONS FOR LIABILITIES

12,184

781

NET ASSETS

2,352,857

2,166,084

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

2,347,857

2,161,084

SHAREHOLDERS' FUNDS

2,352,857

2,166,084

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 2 July 2019 and were signed on its behalf by:

Mr P Ballard - Director

1.	STATUTORY INFORMATION

Compton Property Management 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 machinery etc

-

25% on 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 November 2017

28,016

103,306

131,322

Additions

4,930

150,184

155,114

At 31 October 2018

32,946

253,490

286,436

DEPRECIATION

At 1 November 2017

24,311

103,103

127,414

Charge for year

2,378

16,512

18,890

At 31 October 2018

26,689

119,615

146,304

NET BOOK VALUE

At 31 October 2018

6,257

133,875

140,132

At 31 October 2017

3,705

203

3,908

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Accrued management fee

38,218

35,732

Amounts due from related companies

2,215,770

2,164,086

Sundry Debtors

1,004

8,066

Prepayments

8,138

5,286

2,263,130

2,213,170

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade creditors

3,367

3,367

Tax

(4,328

)

40,811

Social security and other taxes

3,571

-

VAT

10,424

26,303

Other creditors

38,079

3,540

Accrued expenses

18,559

13,541

69,672

87,562

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

The Report of the Auditors was unqualified.

Dylan Jones (Senior Statutory Auditor)

for and on behalf of Cambrian & Co Ltd

8.	RELATED PARTY DISCLOSURES

Debtors include an amount of £2,215,770 (2017 £2,164,086) due from associated company Tapestart Ltd.

Tapestart Ltd acts as a clearing house for intercompany transactions between associated companies under the

same common control.

9.	ULTIMATE CONTROLLING PARTY

Through its parent company Compton Developments Ltd, the directors do not consider there to be a single

controlling party.