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Unaudited Financial Statements for the Year Ended 31 October 2023

for

CREDIT ASSIST LIMITED

CREDIT ASSIST LIMITED (Registered number: 05002999)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CREDIT ASSIST LIMITED

Company Information
for the Year Ended 31 October 2023







DIRECTOR: S J Kilsby





SECRETARY: M Bunyan





REGISTERED OFFICE: 4 York Studios
Cold Ashby Road
Guilsborough
Northampton
NN6 8QP





REGISTERED NUMBER: 05002999 (England and Wales)





ACCOUNTANTS: Abacus Business Consulting Limited
Thistledown
Wendlebury
Bicester
OX25 2PE

CREDIT ASSIST LIMITED (Registered number: 05002999)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,700 18,350

CURRENT ASSETS
Debtors 5 254,836 252,316
Cash at bank 676,528 688,943
931,364 941,259
CREDITORS
Amounts falling due within one year 6 629,310 674,268
NET CURRENT ASSETS 302,054 266,991
TOTAL ASSETS LESS CURRENT
LIABILITIES

317,754

285,341

PROVISIONS FOR LIABILITIES 3,900 3,450
NET ASSETS 313,854 281,891

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 313,654 281,691
SHAREHOLDERS' FUNDS 313,854 281,891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

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 22 May 2024 and were signed by:




S J Kilsby - Director


CREDIT ASSIST LIMITED (Registered number: 05002999)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

CREDIT ASSIST 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for services supplied during the period, 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 etc - 25% on reducing balance

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.

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 8 (2022 - 8 ) .

CREDIT ASSIST LIMITED (Registered number: 05002999)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 77,020
Additions 1,339
At 31 October 2023 78,359
DEPRECIATION
At 1 November 2022 58,670
Charge for year 3,989
At 31 October 2023 62,659
NET BOOK VALUE
At 31 October 2023 15,700
At 31 October 2022 18,350

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 233,709 148,896
Other debtors 21,127 103,420
254,836 252,316

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 26,802 211,538
Taxation and social security 32,152 28,259
Other creditors 570,356 434,471
629,310 674,268

7. ULTIMATE CONTROLLING PARTY

The controlling party is S J Kilsby.