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REGISTERED NUMBER: 08709329 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Special Debt Situations Limited

Special Debt Situations Limited (Registered number: 08709329)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Special Debt Situations Limited

Company Information
for the Year Ended 31 December 2022







DIRECTOR: J F Cizain





REGISTERED OFFICE: Office 17 Access House
c/o DRS Tax & Business Advisors
Manor Road
West Ealing
W13 0AS





REGISTERED NUMBER: 08709329 (England and Wales)






Special Debt Situations Limited (Registered number: 08709329)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54,580 2,517
Investments 5 79,007 79,007
133,587 81,524

CURRENT ASSETS
Debtors 6 754,568 252,625
Cash at bank 639,899 937,472
1,394,467 1,190,097
CREDITORS
Amounts falling due within one year 7 208,836 245,184
NET CURRENT ASSETS 1,185,631 944,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,319,218

1,026,437

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 1,319,118 1,026,337
SHAREHOLDERS' FUNDS 1,319,218 1,026,437

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

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

The director acknowledges his 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.

Special Debt Situations Limited (Registered number: 08709329)

Balance Sheet - continued
31 December 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 director and authorised for issue on 26 September 2023 and were signed by:





J F Cizain - Director


Special Debt Situations Limited (Registered number: 08709329)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Special Debt Situations Limited 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 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 as modified by the revaluation of certain assets.

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 each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Special Debt Situations Limited (Registered number: 08709329)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2022 - 23,510 23,510
Additions 68,990 1,646 70,636
At 31 December 2022 68,990 25,156 94,146
DEPRECIATION
At 1 January 2022 - 20,993 20,993
Charge for year 17,248 1,325 18,573
At 31 December 2022 17,248 22,318 39,566
NET BOOK VALUE
At 31 December 2022 51,742 2,838 54,580
At 31 December 2021 - 2,517 2,517

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2022
and 31 December 2022 79,007
NET BOOK VALUE
At 31 December 2022 79,007
At 31 December 2021 79,007


Special Debt Situations Limited (Registered number: 08709329)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 664,652 31,519
Other debtors 89,916 221,106
754,568 252,625

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 339 233
Taxation and social security 173,497 184,951
Other creditors 35,000 60,000
208,836 245,184

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
100 ORDINARY SHARES 1 100 100

9. RESERVES
Retained
earnings
£   

At 1 January 2022 1,026,337
Profit for the year 511,372
Dividends (218,591 )
At 31 December 2022 1,319,118