Company registration number 04195750 (England and Wales)
COMPLI GROUP LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2022
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
COMPLI GROUP LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
COMPLI GROUP LTD
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
124,590
142,611
Current assets
Stocks
72,513
53,705
Debtors
5
186,458
235,822
Cash at bank and in hand
377,641
240,593
636,612
530,120
Creditors: amounts falling due within one year
6
(266,988)
(314,315)
Net current assets
369,624
215,805
Total assets less current liabilities
494,214
358,416
Provisions for liabilities
(23,672)
(26,182)
Net assets
470,542
332,234
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
470,442
332,134
Total equity
470,542
332,234
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
COMPLI GROUP LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 10 November 2022 and are signed on its behalf by:
Mr M R Suter
Director
Company Registration No. 04195750
COMPLI GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Compli Group Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
1 Cabot Business Village, Poole, Dorset, BH17 7BA.
The company changed its name on 12 August 2021. Prior to this date the company was known as Poole Instrument Calibration Limited
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
Over the term of the lease
Plant and equipment
20% straight line
Fixtures and fittings
15% reducing balance
Computers
33% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
COMPLI GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.7
Financial instruments
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
1.9
Retirement benefits
Payments to pension schemes are charged as an expense as they fall due.
1.10
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.11
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
COMPLI GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
17
17
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2021 and 31 March 2022
4,700
Amortisation and impairment
At 1 April 2021 and 31 March 2022
4,700
Carrying amount
At 31 March 2022
At 31 March 2021
4
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2021
131,313
196,788
19,020
26,231
105,043
478,395
Additions
15,402
500
13,147
29,049
Disposals
(7,987)
(9,405)
(17,392)
At 31 March 2022
131,313
212,190
19,520
31,391
95,638
490,052
Depreciation and impairment
At 1 April 2021
126,502
155,280
14,655
20,398
18,949
335,784
Depreciation charged in the year
4,811
15,062
733
4,411
21,524
46,541
Eliminated in respect of disposals
(7,987)
(8,876)
(16,863)
At 31 March 2022
131,313
170,342
15,388
16,822
31,597
365,462
Carrying amount
At 31 March 2022
41,848
4,132
14,569
64,041
124,590
At 31 March 2021
4,811
41,508
4,365
5,833
86,094
142,611
COMPLI GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
184,973
216,842
Other debtors
1,485
18,980
186,458
235,822
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
120,205
171,573
Taxation and social security
123,163
79,650
Other creditors
23,620
63,092
266,988
314,315
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022
2021
£
£
Within one year
38,400
38,400
38,400
38,400