Compass Plumbing & Heating Solutions (Sw - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11707441 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

3 DECEMBER 2018 TO 31 DECEMBER 2019

FOR

COMPASS PLUMBING & HEATING SOLUTIONS

(SW) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr K M Turvey

REGISTERED OFFICE:

7a Dartmouth Road

Paignton

Devon

TQ4 5AA

REGISTERED NUMBER:

11707441 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Unit 4 Brunel Buildings

Brunel Road

Newton Abbot

Devon

TQ12 4PB

BANKERS:

NatWest

Dartmouth

South West TCSC

740 Waterside Drive, Aztec West

Almondsbury, Bristol

Avon

BS99 5BD

FIXED ASSETS

Tangible assets

4

17,795

CURRENT ASSETS

Debtors

5

32,666

Cash at bank

2,411

35,077

CREDITORS

Amounts falling due within one year

6

29,239

NET CURRENT ASSETS

5,838

TOTAL ASSETS LESS CURRENT LIABILITIES

23,633

CREDITORS

Amounts falling due after more than one year

7

13,257

NET ASSETS

10,376

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

10,276

10,376

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 August 2020 and were signed by:

Mr K M Turvey - Director

1.	STATUTORY INFORMATION

Compass Plumbing & Heating Solutions (Sw) Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the

Statement of Income and Retained Earnings, 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 period 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their estimated

useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period.

The capital element of the future payments is treated as a liability.

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 period was 3 .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

Additions

23,727

At 31 December 2019

23,727

DEPRECIATION

Charge for period

5,932

At 31 December 2019

5,932

NET BOOK VALUE

At 31 December 2019

17,795

Fixed assets, included in the above, which are held under hire purchase contracts are as

follows:

Motor

vehicles

£

COST

Additions

23,727

At 31 December 2019

23,727

DEPRECIATION

Charge for period

5,932

At 31 December 2019

5,932

NET BOOK VALUE

At 31 December 2019

17,795

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

11,074

Amounts recoverable on contract

10,000

Other debtors

310

Directors' current accounts

7,188

VAT

4,094

32,666

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Hire purchase contracts

4,971

Trade creditors

16,585

Tax

1,051

Social security and other taxes

253

Other creditors

4,345

Accrued expenses

2,034

29,239

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

13,257

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended

31 December 2019:

£

Mr K M Turvey

Balance outstanding at start of period

-

Amounts advanced

44,590

Amounts repaid

(37,402

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

7,188

Dividends of £12,000 were paid out in the year.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr K M Turvey.