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REGISTERED NUMBER: 06967561 (England and Wales)












HUSBAND COLLECTION SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022






HUSBAND COLLECTION SERVICES LTD (REGISTERED NUMBER: 06967561)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HUSBAND COLLECTION SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2022







DIRECTORS: Mr S A Husband
Mrs A C N Husband





REGISTERED OFFICE: Highland House
Mayflower Close
Chandlers Ford
Eastleigh
Hampshire
SO53 4AR





REGISTERED NUMBER: 06967561 (England and Wales)

HUSBAND COLLECTION SERVICES LTD (REGISTERED NUMBER: 06967561)

BALANCE SHEET
31 JULY 2022

2022 2021
Notes £ £
FIXED ASSETS
Tangible assets 4 639 853

CURRENT ASSETS
Debtors 5 12,506 9,109
Cash at bank 59,258 82,307
71,764 91,416
CREDITORS
Amounts falling due within one year 6 (40,321 ) (59,525 )
NET CURRENT ASSETS 31,443 31,891
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,082

32,744

PROVISIONS FOR LIABILITIES (160 ) (162 )
NET ASSETS 31,922 32,582

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 31,920 32,580
31,922 32,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

HUSBAND COLLECTION SERVICES LTD (REGISTERED NUMBER: 06967561)

BALANCE SHEET - continued
31 JULY 2022



The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2022 and were signed on its behalf by:





Mr S A Husband - Director


HUSBAND COLLECTION SERVICES LTD (REGISTERED NUMBER: 06967561)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022


1. STATUTORY INFORMATION

Husband Collection Services 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 FRS 102 "The Financial Reporting Standards 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 amounts in these financial statements are rounded to the nearest £1.

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 the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 25% Reducing balance

Government grants
Coronavirus Job Retention Scheme: the accrual model has been used to recognise the grant on a systematic basis over the periods in which the related staff costs are incurred.

Taxation
Taxation for the year comprises current 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 tax 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.


HUSBAND COLLECTION SERVICES LTD (REGISTERED NUMBER: 06967561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2022


2. ACCOUNTING POLICIES - continued
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.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

HUSBAND COLLECTION SERVICES LTD (REGISTERED NUMBER: 06967561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2022


4. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 August 2021
and 31 July 2022 2,339
DEPRECIATION
At 1 August 2021 1,486
Charge for year 214
At 31 July 2022 1,700
NET BOOK VALUE
At 31 July 2022 639
At 31 July 2021 853

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade debtors 12,506 9,109

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade creditors - 450
Taxation and social security 38,421 57,175
Other creditors 1,900 1,900
40,321 59,525

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£ £
Within one year 13,354 5,926
Between one and five years 25,760 16,830
39,114 22,756