2023-04-012024-03-312024-03-31false05073492ACT CREDIT MANAGEMENT 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ACT CREDIT MANAGEMENT LIMITED

Registered Number
05073492
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

ACT CREDIT MANAGEMENT LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Sally Hodgins-Lewis

Registered Address

Bank House
St. Johns Road, 1st Floor
Harrow
HA1 2EE

Registered Number

05073492 (England and Wales)
ACT CREDIT MANAGEMENT LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets321,62825,765
21,62825,765
Current assets
Debtors4632,695594,563
Cash at bank and on hand1,007,0271,252,080
1,639,7221,846,643
Creditors amounts falling due within one year5(535,589)(393,708)
Net current assets (liabilities)1,104,1331,452,935
Total assets less current liabilities1,125,7611,478,700
Provisions for liabilities(7,726)(6,848)
Net assets1,118,0351,471,852
Capital and reserves
Called up share capital11
Share premium(398,000)-
Profit and loss account1,516,0341,471,851
Shareholders' funds1,118,0351,471,852
The financial statements were approved and authorised for issue by the Director on 8 August 2024, and are signed on its behalf by:
Sally Hodgins-Lewis
Director
Registered Company No. 05073492
ACT CREDIT MANAGEMENT LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year4631
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2353,044
Additions2,672
At 31 March 2455,716
Depreciation and impairment
At 01 April 2327,279
Charge for year6,809
At 31 March 2434,088
Net book value
At 31 March 2421,628
At 31 March 2325,765
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables617,919570,131
Other debtors1,7881,375
Prepayments and accrued income12,98823,057
Total632,695594,563
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables391,202198,712
Taxation and social security135,376193,036
Accrued liabilities and deferred income9,0111,960
Total535,589393,708
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.