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REGISTERED NUMBER: 06673842 (England and Wales)















Collections Marketing Centre UK Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






Collections Marketing Centre UK Limited (Registered number: 06673842)






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




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Collections Marketing Centre UK Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: T J O'Brien
J Granara





REGISTERED OFFICE: 30 Bankside Court
Stationfields
Kidlington
Oxfordshire
OX5 1JE





REGISTERED NUMBER: 06673842 (England and Wales)





ACCOUNTANTS: Chapman Robinson and Moore Limited
30 Bankside Court
Stationfields
Kidlington
Oxford
OX5 1JE

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Collections Marketing Centre UK Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Collections Marketing Centre UK Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Collections Marketing Centre UK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Collections Marketing Centre UK Limited and state those matters that we have agreed to state to the Board of Directors of Collections Marketing Centre UK Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Collections Marketing Centre UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Collections Marketing Centre UK Limited. You consider that Collections Marketing Centre UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Collections Marketing Centre UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Chapman Robinson and Moore Limited
30 Bankside Court
Stationfields
Kidlington
Oxford
OX5 1JE


Date: .............................................

Collections Marketing Centre UK Limited (Registered number: 06673842)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £   
CURRENT ASSETS
Debtors 5 370,284 315,597

CREDITORS
Amounts falling due within one year 6 (3,570,321 ) (3,280,931 )
NET CURRENT LIABILITIES (3,200,037 ) (2,965,334 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,200,037

)

(2,965,334

)

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves (75,966 ) (75,966 )
Retained earnings (3,124,171 ) (2,889,468 )
SHAREHOLDERS' FUNDS (3,200,037 ) (2,965,334 )

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

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

Collections Marketing Centre UK Limited (Registered number: 06673842)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





Ms L Granahan - Director


Collections Marketing Centre UK Limited (Registered number: 06673842)

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

1. STATUTORY INFORMATION

Collections Marketing Centre 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.

The financial statements are prepared in $USD, which is the functional currency of the company. They are presented in £GBP

The exchange rates used are as follows:

- For the profit and loss items an average yearly exchange rate of 1USD : 0.804 GBP
- For the balance sheet items the exchange rate as at 31.12.23 of 1USD: 0.785 GBP

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contact is measuring by comparing the hours incurred for work performed to date to the total estimated contract hours.

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 - 33% on cost

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Collections Marketing Centre UK Limited (Registered number: 06673842)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
The accounts have been prepared on the going concern basis. Although the balance sheet shows a net deficit at year end, this is considered appropriate on the basis of continued support from the parent company,

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 575,855
DEPRECIATION
At 1 January 2023
and 31 December 2023 575,855
NET BOOK VALUE
At 31 December 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 13,032 109,109
Amounts owed by group undertakings 341,736 197,520
Other debtors 15,516 8,968
370,284 315,597

Collections Marketing Centre UK Limited (Registered number: 06673842)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 18,276 9,784
Amounts owed to group undertakings 3,540,576 3,268,478
Other creditors 11,469 2,669
3,570,321 3,280,931

7. RELATED PARTY DISCLOSURES

Collections Marketing Center, Inc.
31/12/23 31/12/22
Parent Company £ £
Re-charge of costs incurred on behalf of the company. The amount
includes various labour and other administrative costs involved.

41,956

145,814
Interest charge on average outstanding account balance at 10.5%
(2022: 7.5%).

427,840

310,246
Amount due to the related party 3,390,747 3,027,632

Collections Marketing Center, Australia
Subsidiary to the Parent Company
Re-charge of costs incurred on behalf of the company. The amount
includes various labour and other administrative costs involved.

NIL

NIL
Amount due to the related party 230,255 240,846


8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Collections Marketing Center, Inc.

This company was incorporated in the United States of America.

The company is dependent upon the continuing financial support of the parent company during the initial opening years of trading. The parent company has confirmed its intention to continue its financial support and this is monitored by the local director on a regular basis.