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REGISTERED NUMBER: 06854365 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

CREDIT LIMITS INTERNATIONAL LTD

CREDIT LIMITS INTERNATIONAL LTD (REGISTERED NUMBER: 06854365)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CREDIT LIMITS INTERNATIONAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: P D M D Haincourt
C E Haincourt





SECRETARY: C E Haincourt





REGISTERED OFFICE: 7 Church Road
Oare
Faversham
Kent
ME13 0QA





REGISTERED NUMBER: 06854365 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

CREDIT LIMITS INTERNATIONAL LTD (REGISTERED NUMBER: 06854365)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 26,304 4,704

CURRENT ASSETS
Debtors 6 134,533 103,045
Cash at bank and in hand 582,888 501,214
717,421 604,259
CREDITORS
Amounts falling due within one year 7 168,330 200,581
NET CURRENT ASSETS 549,091 403,678
TOTAL ASSETS LESS CURRENT
LIABILITIES

575,395

408,382

PROVISIONS FOR LIABILITIES 2,062 -
NET ASSETS 573,333 408,382

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 572,333 407,382
SHAREHOLDERS' FUNDS 573,333 408,382

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

CREDIT LIMITS INTERNATIONAL LTD (REGISTERED NUMBER: 06854365)

BALANCE SHEET - continued
31 MARCH 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2022 and were signed on its behalf by:




P D M D Haincourt - Director



C E Haincourt - Director


CREDIT LIMITS INTERNATIONAL LTD (REGISTERED NUMBER: 06854365)

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


1. STATUTORY INFORMATION

Credit Limits International 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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 presentation and disclosure requirements of Section 1A applicable to small companies, and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured as the fair value of the consideration received or receivable from the sale of goods or exchange of services, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

The percentage of completion method is used to calculate the turnover recognised at the period end.

Turnover from the rendering of services is recognised when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity;
- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

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 - 25% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost


CREDIT LIMITS INTERNATIONAL LTD (REGISTERED NUMBER: 06854365)

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


3. ACCOUNTING POLICIES - continued
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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of the leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

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.

Employee benefits
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2021 - 20 ) .

CREDIT LIMITS INTERNATIONAL LTD (REGISTERED NUMBER: 06854365)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2021 - 20,064 27,296 36,116 83,476
Additions 6,000 14,360 - 10,996 31,356
Disposals - (5,031 ) - (6,453 ) (11,484 )
At 31 March 2022 6,000 29,393 27,296 40,659 103,348
DEPRECIATION
At 1 April 2021 - 17,473 27,296 34,003 78,772
Charge for year 1,500 4,082 - 4,174 9,756
Eliminated on disposal - (5,031 ) - (6,453 ) (11,484 )
At 31 March 2022 1,500 16,524 27,296 31,724 77,044
NET BOOK VALUE
At 31 March 2022 4,500 12,869 - 8,935 26,304
At 31 March 2021 - 2,591 - 2,113 4,704

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 87,386 78,180
Other debtors 47,147 24,865
134,533 103,045

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 7,371 23,174
Taxation and social security 74,871 93,264
Other creditors 86,088 84,143
168,330 200,581

8. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £69,026 (2021 - £60,566).

CREDIT LIMITS INTERNATIONAL LTD (REGISTERED NUMBER: 06854365)

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


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
P D M D Haincourt
Balance outstanding at start of year 320 7,832
Amounts advanced - 2,218
Amounts repaid (4,143 ) (9,730 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,823 ) 320

C E Haincourt
Balance outstanding at start of year 320 7,832
Amounts advanced - 2,219
Amounts repaid (4,143 ) (9,731 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,823 ) 320

The loans from the directors to the company are unsecured, interest free and repayable on demand.