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REGISTERED NUMBER: 04581518 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2021

FOR

DEBT SUPPORT CENTRE LIMITED

DEBT SUPPORT CENTRE LIMITED (REGISTERED NUMBER: 04581518)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th November 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DEBT SUPPORT CENTRE LIMITED

COMPANY INFORMATION
for the Year Ended 30th November 2021







DIRECTORS: Mr C G Elliott
Mrs S J Elliott





SECRETARY: Mrs S J Elliott





REGISTERED OFFICE: 1st Floor
Bridgewater House
58-60 Whitworth Street
Manchester
M1 6LT





REGISTERED NUMBER: 04581518 (England and Wales)





ACCOUNTANTS: KJG
1 City Road East
Manchester
M15 4PN

DEBT SUPPORT CENTRE LIMITED (REGISTERED NUMBER: 04581518)

BALANCE SHEET
30th November 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 4 27,003 61,719

CURRENT ASSETS
Debtors 5 2,532,192 1,148,159
Cash at bank 14,652 82,418
2,546,844 1,230,577
CREDITORS
Amounts falling due within one year 6 (3,456,536 ) (1,416,478 )
NET CURRENT LIABILITIES (909,692 ) (185,901 )
TOTAL ASSETS LESS CURRENT LIABILITIES (882,689 ) (124,182 )

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings (882,691 ) (124,184 )
SHAREHOLDERS' FUNDS (882,689 ) (124,182 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2021 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.

DEBT SUPPORT CENTRE LIMITED (REGISTERED NUMBER: 04581518)

BALANCE SHEET - continued
30th November 2021


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th August 2022 and were signed on its behalf by:





Mrs S J Elliott - Director


DEBT SUPPORT CENTRE LIMITED (REGISTERED NUMBER: 04581518)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th November 2021


1. STATUTORY INFORMATION

Debt Support Centre Limited is a private company limited by share capital, incorporated in England and Wales, registration number 04581518. The address of the registered office and principal place of business is Bridgewater House, Whitworth Street, Manchester M1 6LT.

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.

Going Concern
The directors and shareholders believe that the other companies within the group will continue to support this company with the funds it requires to continue trading as a going concern. On this basis the Directors consider that it is appropriate to prepare the financial statements on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover principally consists of commission received for information provided to third parties.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Computer Equipment -33% on cost
Fixture and Fittings-33% on cost

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.


DEBT SUPPORT CENTRE LIMITED (REGISTERED NUMBER: 04581518)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th November 2021


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand,

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

DEBT SUPPORT CENTRE LIMITED (REGISTERED NUMBER: 04581518)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th November 2021


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st December 2020
and 30th November 2021 31,204 340,068 371,272
DEPRECIATION
At 1st December 2020 30,292 279,261 309,553
Charge for year 481 34,235 34,716
At 30th November 2021 30,773 313,496 344,269
NET BOOK VALUE
At 30th November 2021 431 26,572 27,003
At 30th November 2020 912 60,807 61,719

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Amounts owed by group undertakings 2,523,525 1,144,495
Other debtors 8,667 3,664
2,532,192 1,148,159

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 72,528 124,537
Amounts owed to group undertakings 40,993 1,108,833
Amounts owed to associates 3,277,839 131,599
Other creditors 65,176 51,509
3,456,536 1,416,478

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
2 Ordinary £1.00 2 2

DEBT SUPPORT CENTRE LIMITED (REGISTERED NUMBER: 04581518)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th November 2021


8. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr CG Elliott and Mrs S J Elliott, directors of the ultimate parent company by virtue of their controlling interest in the ultimate parent, Bridgewater Finance Group Limited.