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Company Registration No. 04833093 (England and Wales)
General Guarantee Collections Limited Unaudited accounts for the year ended 31 December 2023
General Guarantee Collections Limited Unaudited accounts Contents
Page
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General Guarantee Collections Limited Company Information for the year ended 31 December 2023
Director
DT Montgomery
Company Number
04833093 (England and Wales)
Registered Office
'Robinheath' Chase Road Brocton Stafford ST17 0TL England
Accountants
SJM Accounting Services 51 Wilmslow Road Cheadle Stockport Cheshire SK8 1HG
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General Guarantee Collections Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investments
202 
202 
Current assets
Debtors
15,026 
14,991 
Cash at bank and in hand
19,853 
22,948 
34,879 
37,939 
Creditors: amounts falling due within one year
(21,194)
(38,470)
Net current assets/(liabilities)
13,685 
(531)
Net assets/(liabilities)
13,887 
(329)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
13,787 
(429)
Shareholders' funds
13,887 
(329)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 February 2024 and were signed on its behalf by
DT Montgomery Director Company Registration No. 04833093
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General Guarantee Collections Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
General Guarantee Collections Limited is a private company, limited by shares, registered in England and Wales, registration number 04833093. The registered office and principal place of business is 'Robinheath', Chase Road, Brocton, Stafford, ST17 0TL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling which is the functional currency of the company.
Turnover
Turnover represents amounts receivable for credit collection services, net of trade discounts, to the extent that the company has a right to consideration arising from the performance of its contractual arrangements.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 January 2023
16,621 
At 31 December 2023
16,621 
Depreciation
At 1 January 2023
16,621 
At 31 December 2023
16,621 
Net book value
At 31 December 2023
- 
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General Guarantee Collections Limited Notes to the Accounts for the year ended 31 December 2023
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2023
202 
Valuation at 31 December 2023
202 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
377 
342 
Other debtors
14,649 
14,649 
15,026 
14,991 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
25 
25 
Taxes and social security
- 
35 
Other creditors
20,000 
37,261 
Loans from directors
389 
389 
Accruals
780 
760 
21,194 
38,470 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 0 (2022: 2).
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