Registered number
01380801
Credit Recovery Systems Limited
Filleted Accounts
31 March 2023
Credit Recovery Systems Limited
Registered number: 01380801
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,450 2,406
Investments 4 170 170
2,620 2,576
Current assets
Debtors 5 24,420 32,666
Cash at bank and in hand 549,312 539,072
573,732 571,738
Creditors: amounts falling due within one year 6 (273,540) (301,563)
Net current assets 300,192 270,175
Net assets 302,812 272,751
Capital and reserves
Called up share capital 80,000 80,000
Profit and loss account 222,812 192,751
Shareholders' funds 302,812 272,751
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B L Jackson
Director
Approved by the board on 27 November 2023
Credit Recovery Systems Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain assets, and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 25% p.a. straight line
Investments
Listed investments are measured at net book value. Unlisted investments are measured at fair value. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Fixtures fittings and equipment
£
Cost
At 1 April 2022 63,731
Additions 1,090
At 31 March 2023 64,821
Depreciation
At 1 April 2022 61,325
Charge for the year 1,046
At 31 March 2023 62,371
Net book value
At 31 March 2023 2,450
At 31 March 2022 2,406
4 Investments
Listed
investments
£
Historic cost
At 1 April 2022 170
At 31 March 2023 170

Listed Investments having a net book value of £170 (2022 - £170) are held by the company and had a market value of £353 at the end of the year (2022 - £560 ).
5 Debtors 2023 2022
£ £
Trade debtors 24,029 32,311
Other debtors 391 355
24,420 32,666
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,644 3,431
Taxation and social security costs 14,572 15,736
Other creditors 255,324 282,396
273,540 301,563
7 Other information
Credit Recovery Systems Limited is a private company limited by shares and incorporated in England. Its registered office is:
Dial House
Willow Grove
Chislehurst
Kent
BR7 5BN
Credit Recovery Systems Limited 01380801 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 B L Jackson No description of principal activity 01380801 2021-04-01 2022-03-31 01380801 core:WithinOneYear 2022-03-31 01380801 core:ShareCapital 2022-03-31 01380801 core:RetainedEarningsAccumulatedLosses 2022-03-31 01380801 2022-04-01 2023-03-31 01380801 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01380801 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01380801 bus:Director40 2022-04-01 2023-03-31 01380801 core:PlantMachinery 2022-04-01 2023-03-31 01380801 countries:England 2022-04-01 2023-03-31 01380801 bus:FRS102 2022-04-01 2023-03-31 01380801 bus:FullAccounts 2022-04-01 2023-03-31 01380801 2023-03-31 01380801 core:WithinOneYear 2023-03-31 01380801 core:ShareCapital 2023-03-31 01380801 core:RetainedEarningsAccumulatedLosses 2023-03-31 01380801 core:PlantMachinery 2023-03-31 01380801 2022-03-31 01380801 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure