Compart Group - Period Ending 2015-12-31

Registration number: 04514255

Compart Group

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Booth Parkes & Associates Limited
Chartered Accountants
Southolme
Trinity Street
Gainsborough
Lincolnshire
DN21 2EQ

Compart Group
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Compart Group
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have complied the financial statements of Compart Group for the year ended 31 December 2015 which comprise of the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Compart Group, as a body, in accordance with the terms of our engagement letterdated 14 January 2005. Our work has been undertaken solely to prepare for your approval the accounts of Compart Group and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Compart Group and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Compart Group has kept adequate accounting records and to prepare financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Compart Group. You consider that Compart Group is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Compart Group. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

..............................................................

Booth Parkes & Associates Limited
Chartered Accountants
Southolme
Trinity Street
Gainsborough
Lincolnshire
DN21 2EQ

20 September 2016

Page 1

Compart Group
(Registration number: 04514255)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Investments		2			397,678			397,678
Current assets
Debtors					111,975			111,981
Cash at bank and in hand					37,881			46,073
					149,856			158,054
Creditors: Amounts falling due within one year					(240)			(382)
Net current assets					149,616			157,672
Net assets					547,294			555,350
Capital and reserves
Called up share capital		3			4			4
Profit and loss account					547,290			555,346
Shareholders' funds					547,294			555,350

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 20 September 2016 and signed on its behalf by:

.........................................
Mr A D Black
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Compart Group
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

The financial statements have been prepared on a going concern basis.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	33% straight line basis

Fixed asset investments

Fixed asset investments are initially recorded at historical cost. The carrying value of the investments in subsidiary undertakings are reviewed for impairment in subsequent periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Compart Group
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 January 2015		1,710			9,105,244			9,106,954
At 31 December 2015		1,710			9,105,244			9,106,954
Depreciation
At 1 January 2015		1,710			8,707,566			8,709,276
At 31 December 2015		1,710			8,707,566			8,709,276
Net book value
At 31 December 2015		-			397,678			397,678
At 31 December 2014		-			397,678			397,678

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings
Buckingham Gate Properties Limited	Ordinary	100%	purchase and development of property

The loss for the financial period of Buckingham Gate Properties Limited was £11,539 and the aggregate amount of capital and reserves at the end of the period was £344,086.

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		4			4			4			4

Page 4