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REGISTERED NUMBER: 06078403 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Debt Solve UK Limited

Debt Solve UK Limited (Registered number: 06078403)






Contents of the Financial Statements
for the year ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Debt Solve UK Limited

Company Information
for the year ended 30 September 2023







DIRECTORS: M P Brooks
Mrs L E Brooks
M P Jackson





SECRETARY: Mrs L E Brooks





REGISTERED OFFICE: Meryll House
57 Worcester Road
Bromsgrove
Worcestershire
B61 7DN





REGISTERED NUMBER: 06078403 (England and Wales)





ACCOUNTANTS: Pinfields Limited
Chartered Accountants
Meryll House
57 Worcester Road
Bromsgrove
Worcestershire
B61 7DN

Debt Solve UK Limited (Registered number: 06078403)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,882 7,742

CURRENT ASSETS
Stocks 29,400 34,420
Debtors 5 143,969 42,842
Cash at bank and in hand 45,280 124,386
218,649 201,648
CREDITORS
Amounts falling due within one year 6 52,197 62,103
NET CURRENT ASSETS 166,452 139,545
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,334

147,287

PROVISIONS FOR LIABILITIES 1,720 1,471
NET ASSETS 171,614 145,816

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 171,612 145,814
171,614 145,816

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 Solve UK Limited (Registered number: 06078403)

Balance Sheet - continued
30 September 2023


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.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:





M P Brooks - Director


Debt Solve UK Limited (Registered number: 06078403)

Notes to the Financial Statements
for the year ended 30 September 2023

1. STATUTORY INFORMATION

Debt Solve UK 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.

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


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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 30 September 2023 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 October 2021.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred 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 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.


Debt Solve UK Limited (Registered number: 06078403)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 October 2022 14,661 14,879 29,540
Additions 1,349 - 1,349
At 30 September 2023 16,010 14,879 30,889
DEPRECIATION
At 1 October 2022 10,251 11,547 21,798
Charge for year 1,376 833 2,209
At 30 September 2023 11,627 12,380 24,007
NET BOOK VALUE
At 30 September 2023 4,383 2,499 6,882
At 30 September 2022 4,410 3,332 7,742

Debt Solve UK Limited (Registered number: 06078403)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 33,757 24,761
Other debtors 110,212 18,081
143,969 42,842

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 6,630 12,480
Taxation and social security 43,702 41,356
Other creditors 1,865 8,267
52,197 62,103

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
M P Brooks
Balance outstanding at start of year - -
Amounts advanced 99,149 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 99,149 -

8. FIRST YEAR ADOPTION

The financial statements for the year ended 30th September 2023 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 1st October 2022.

The transition to FRS 102 Section 1A small entities has resulted in the inclusion of deferred taxation. A liability is provided for within 30th September 2023 £1,720 (2022 comparative £1,470).