Controlaccount Ltd |
Registered number: |
02765607 |
Directors' Report |
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The directors present their report and financial statements for the year ended 31 December 2023. |
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Principal activities |
During the year, the Company continued to offer a comprehensive range of credit management solutions to customers across various industry sectors. These activities included: |
1 |
Credit Control: Helping businesses manage their credit efficiently to ensure timely payments. |
2 |
Debt Collection: Assisting clients in recovering outstanding debts. |
3 |
Complaint Management: Handling customer complaints effectively to maintain client satisfaction. |
4 |
Data Services: Providing data management solutions. |
5 |
Back-Office Administration: Supporting clients with administrative tasks to enhance operational efficiency. |
6 |
Customer Service Support: Offering services to improve customer interactions and satisfaction. |
7 |
Credit Information and Investigation: Delivering credit-related information and investigation services under the "identeco" brand. |
8 |
Cloud-Based Systems Development: Developing cloud-based systems such as HARP, a Human Resources and accredited Payroll Solution |
These services are designed to integrate seamlessly with customer operations, enhancing efficiency and reducing costs. The company's solutions can be implemented as a comprehensive package or as short-term fixes for specific issues. |
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Dividends |
No dividends were declared or paid in the year on the Ordinary shares. |
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Directors |
The following persons served as directors during the year: |
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D Harvey |
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G A R Ball |
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I Mitchell |
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R Jefferies |
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J Crouch |
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C Knights |
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Directors' responsibilities |
Controlaccount Ltd |
Strategic Report |
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The directors present their strategic report for the year ending 31 December 2023. |
Review of the business |
Overview 2023 was a challenging trading year for our business. Despite numerous obstacles, we managed to achieve reasonable financial performance. The latter part of 2022 indicated growing disruptions in our primary market as customers reorganized and installed new systems to enhance efficiency, largely driven by the pandemic's impact. Although we were kept informed of progress, the implementation of these new client systems took longer than expected. This led to sporadic new work instructions, delays in recovering accounts, and lower productivity due to duplicated efforts and increased costs through errors in the work submitted for recovery |
Key Highlights: • Handling millions of back-office actions annually. • Providing effective resolutions to customer queries and disputes. • Building and supporting technology to facilitate easy collaboration and reduce workloads. • Improving risk analysis, automating processes, increasing productivity, and maintaining positive cash flows. The Company is committed to delivering cost-effective, quality-driven services that support client operations and ensure outstanding performance |
Market Challenges and Response Our business model is extensive and relies on the prompt execution of key tasks, quality actions, and early identification of problems. To ensure consistent performance, we employ a range of key performance indicators (KPIs) to measure outputs, refine administrative processes, enhance employee performance, and improve quality aspects of the service. While many of these KPIs may have little significance on their own, together they make a substantial contribution to the overall financial results. This is evidenced by the ratio of earnings per productive employee, which showed a decrease of 14.5% in the year ending December 2023 due to the challenging trading conditions |
Achievements and Innovations |
High-Quality Services and Team Effort: Our results underscore our commitment to delivering high-quality services and managing variable workloads. Our team, technology, and unique capabilities developed over many years were pivotal in overcoming difficulties and delivering results for Controlaccount and its customers. |
Software Platform Development: Despite the disruptions, we continued to develop our software platforms "CogendaWorks," "HARP," and "identeco." These cloud-based products support business operations and facilitate third-party interactions, allowing for business expansion through new and extended services. These platforms offer a range of back-office administration solutions suitable for various business applications |
Innovation and Growth Strategy: Working smarter through software innovation underpins our growth strategy. This approach enables us to quickly respond to new customer requirements, introduce new services, and leverage emerging technologies. Maintaining a multi-disciplined software development team enhances our knowledge base, helping us adapt to and benefit from advances in computing for our business and customers. This strategy strengthens our competitive advantage, making us more productive and delivering digital tools for effortless efficiency. |
ISO Accreditation: For more than a decade, we have maintained ISO accreditation, and we are pleased to report that we retained our ISO status for both Quality Assurance and Information Security during the year. |
Transition to Employee Ownership |
In 2022, the business transitioned to an employee-owned model. During our second year, we observed greater employee involvement, increased staff training, and joined the Living Wage Foundation towards the end of the year. This transition has fostered a more engaged workforce and a stronger company culture. |
Future Outlook |
The Directors are satisfied with the company's performance as reported in the financial statements. We will continue to drive revenue growth, enhance customer value, and deliver shareholder returns |
Implementation Delays: The delayed implementation of our clients’ new systems resulted in reduced and inconsistent work instructions. This, coupled with delays in account recovery and reduced work quality, increased costs and lowered productivity. Improvement in Trading Conditions: In the final quarter, trading conditions began to improve with higher levels of incoming work and more consistent operations. Issues related to account administration started to ease, providing optimism for the upcoming year. Since year-end, conditions have continued to improve, particularly for our largest customers. Enhanced internal KPI |
Improvement in Trading Conditions: In the final quarter, trading conditions began to improve with higher levels of incoming work and more consistent operations. Issues related to account administration started to ease, providing optimism for the upcoming year. Since year-end, conditions have continued to improve, particularly for our largest customers. Enhanced internal KPI performance suggests a return to more stable trading, an improved order book, and increased productivity, though full stabilization will take time. |
Principal risks and uncertainties |
Economic climate |
Despite disruptions in our main market, inflation, and higher interest rates, demand for our services remained strong. In the year we secured several new opportunities that will help underpin our forecasts going forward, while the aftereffects of market disruption will persist for some time at reduced levels, our proposition to deliver cost-effective services with adaptability and innovation has become more tactical for companies looking to tap into expertise and reallocate precious internal resources towards core competencies. The Directors are confident in the company's ability to supply efficient, quality services while developing opportunities through technology and connected services |
Liquidity Risk |
The directors consider that the Company has sufficient current assets to enable it to continue to trade and to pay its liabilities as they become due. |
Retention of key people |
Employee turnover is a major strategic challenge and an important factor in future growth. The Directors take a collaborative and supportive approach to recruitment, employee development, and retention, resulting in low attrition rates for employees who have been with the business for more than twelve months. However, attrition rates are higher in the earlier stages of employment in certain areas of the business due to suitability issues that become apparent during training. |
Competitor activity |
The business operates in a large and competitive marketplace with numerous high-profile and medium-sized competitors. Our challenge in developing new and existing customers lies in delivering services that offer performance gains, cost-effectiveness, agility, and unique features not readily available elsewhere. The company has invested in services through the development of feature-rich cloud-based software, which keeps customers connected to the service, effortlessly delivering functionality and transparency. We constantly seek to identify customer needs that match our capabilities and offer pricing solutions that account for options available throughout the marketplace |
Key performance indicators |
while broadening our offerings. Our focus remains on stabilizing the business, capitalising on improving trading conditions, and leveraging our technological advancements to meet customer needs. |
2023 was a year of significant challenges and achievements. Our commitment to high-quality service, innovation, and employee involvement has positioned us well for the future. As we continue to navigate the evolving market landscape, we are optimistic about our ability to deliver value to our customers and stakeholders. |
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This report was approved by the board on 21 August 2024 and signed on its behalf. |
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D Harvey |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
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Other information |
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and , except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this or other information, we are required to report that fact. |
We have nothing to report in this regard. |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of our audit: |
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the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. |
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Extent to which the audit was considered capable of detecting irregularities, including fraud |
The extent to which our procedures are capable of detecting Irregularities, including fraud, is detailed below. |
We identified and assessed the risks of material misstatement of the financial statements, in respect of irregularities whether due to fraud or error, or non compliance with laws and regulations and then designed and performed audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. |
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: |
We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company by discussion and enquiry with the directors and management team and our general knowledge and experience of the debt collection industry. |
We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, employment, and health and safety legislation; |
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing correspondence with relevant regulators |
Audit responses to risks identified |
We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed included but were not limited to: |
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Discussions with directors and management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; |
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Confirming our understanding of controls by performing a walk through test or observation and enquiry; |
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Performing analytical procedures to identify any unusual or unexpected relationships; |
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Challenging assumptions and judgements made by management in accounting for collections in progress at the year end, including estimation of success rate; |
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Identifying and testing journal entries; |
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Reviewing unusual or unexpected transactions; and |
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Agreeing the financial statement disclosures to underlying supporting documentation. |
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
A further description of our responsibilities is available on the Financial Reporting Council's website at https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
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Frances Clapham |
(Senior Statutory Auditor) |
No4 Castle Court 2 |
for and on behalf of |
Castlegate Way |
CK Audit |
Dudley |
Accountants and Statutory Auditors |
West Midlands |
21 August 2024 |
DY1 4RH |
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Work in progress |
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Work in progress is measured at the lower of cost and net realisable value. Cost comprises all services carried out towards debt recovery, and due to commission and fees being only receivable on successful recovery, the anticipated success rate is applied on each category of debt to these costs. Net realisable value is the commission and fees on the successful debt collection. |
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Judgements and key sources of estimation uncertainty |
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In preparing work in progress reports management use estimates to assess the likelihood of recovering cost outlaid during the year, held against uncompleted work at the year end. All such estimates are rigorously assessed and tested using extensive KPI reporting metrics within the business which include but are not limited to sector performance data, customer performance data, process success rates, the performance of legal providers and other external contractors. All KPI analysis is current and any change in performance is considered within all key estimates used. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Current and deferred tax assets and liabilities are not discounted. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Analysis of turnover |
2023 |
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2022 |
£ |
£ |
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Services rendered |
6,052,271 |
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7,818,459 |
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By geographical market: |
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UK |
5,265,491 |
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7,122,724 |
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Europe |
786,404 |
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695,276 |
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Rest of world |
376 |
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459 |
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6,052,271 |
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7,818,459 |
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The turnover and profit for the year has been derived from its principal activities. |
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3 |
Operating profit |
2023 |
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2022 |
£ |
£ |
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This is stated after charging: |
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Depreciation of owned fixed assets |
40,876 |
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38,526 |
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Depreciation of assets held under finance leases and hire purchase contracts |
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10,528 |
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10,528 |
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Amortisation of intangible assets |
6,664 |
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3,250 |
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Operating lease rentals - plant and machinery |
11,625 |
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10,328 |
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Operating lease rentals - land and buildings |
150,057 |
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140,409 |
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Auditors' remuneration for audit services |
12,000 |
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12,000 |
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4 |
Directors' emoluments |
2023 |
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2022 |
£ |
£ |
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Emoluments |
532,317 |
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507,703 |
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Company contributions to defined contribution pension plans |
27,879 |
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12,645 |
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560,196 |
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520,348 |
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Highest paid director: |
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Emoluments |
167,013 |
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168,840 |
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Company contributions to defined contribution pension plans |
6,542 |
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4,673 |
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173,555 |
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173,513 |
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Number of directors to whom retirement benefits accrued: |
2023 |
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2022 |
Number |
Number |
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Defined contribution plans |
5 |
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5 |
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5 |
Staff costs |
2023 |
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2022 |
£ |
£ |
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Wages and salaries |
2,195,383 |
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2,077,236 |
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Social security costs |
220,114 |
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210,076 |
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Other pension costs |
60,550 |
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54,624 |
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2,476,047 |
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2,341,936 |
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Average number of employees during the year |
Number |
Number |
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Administration |
33 |
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28 |
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Collectors |
45 |
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58 |
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78 |
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86 |
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6 |
Interest payable |
2023 |
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2022 |
£ |
£ |
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Bank loans and overdrafts |
- |
|
83,232 |
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Other loans |
5,028 |
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2,047 |
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5,028 |
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85,279 |
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7 |
Taxation |
2023 |
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2022 |
£ |
£ |
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Analysis of charge in period |
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Current tax: |
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UK corporation tax on profits of the period |
94,387 |
|
394,549 |
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Adjustments in respect of previous periods |
(7,900) |
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(12,767) |
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86,487 |
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381,782 |
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Deferred tax: |
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Origination and reversal of timing differences |
55,067 |
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29,133 |
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Effect of increased tax rate on opening liability |
- |
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43,058 |
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55,067 |
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72,191 |
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Tax on profit on ordinary activities |
141,554 |
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453,973 |
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Factors affecting tax charge for period |
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The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows: |
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2023 |
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2022 |
£ |
£ |
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Profit on ordinary activities before tax |
1,506,869 |
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3,066,865 |
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Standard rate of corporation tax in the UK |
23.52% |
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19.00% |
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£ |
£ |
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Profit on ordinary activities multiplied by the standard rate of corporation tax |
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354,416 |
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582,704 |
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Effects of: |
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Expenses not deductible for tax purposes and intergroup surrender |
(101,913) |
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(79,134) |
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Enhanced research and development |
(108,714) |
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(80,357) |
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Capital allowances for period in excess of depreciation |
(49,402) |
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(28,664) |
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Adjustments to tax charge in respect of previous periods |
(7,900) |
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(12,767) |
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Current tax charge for period |
86,487 |
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381,782 |
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Factors that may affect future tax charges |
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The provision for deferred tax is calculated based on tax rates enacted or substantially enacted at the balance sheet date. The rate of corporation tax at 1 April 2023 is 25%. It is expected that the deferred tax will unwind at the rate of 25%. |
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8 |
Intangible fixed assets |
£ |
|
P R Branding |
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Cost |
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At 1 January 2023 |
34,259 |
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Additions |
35,632 |
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At 31 December 2023 |
69,891 |
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Amortisation |
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At 1 January 2023 |
3,250 |
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Provided during the year |
6,664 |
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At 31 December 2023 |
9,914 |
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Carrying amount |
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At 31 December 2023 |
59,977 |
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At 31 December 2022 |
31,009 |
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9 |
Tangible fixed assets |
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Computer Equipment |
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Fixtures and fittings |
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Total |
£ |
£ |
£ |
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Cost |
|
At 1 January 2023 |
1,004,318 |
|
37,200 |
|
1,041,518 |
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Additions |
260,172 |
|
2,846 |
|
263,018 |
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At 31 December 2023 |
1,264,490 |
|
40,046 |
|
1,304,536 |
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|
|
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|
|
|
|
|
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Depreciation |
|
At 1 January 2023 |
135,793 |
|
23,480 |
|
159,273 |
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Charge for the year |
44,916 |
|
6,488 |
|
51,404 |
|
At 31 December 2023 |
180,709 |
|
29,968 |
|
210,677 |
|
|
|
|
|
|
|
|
|
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Carrying amount |
|
At 31 December 2023 |
1,083,781 |
|
10,078 |
|
1,093,859 |
|
At 31 December 2022 |
868,525 |
|
13,720 |
|
882,245 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
2022 |
£ |
£ |
|
Carrying value of plant and machinery included above held under finance leases and hire purchase contracts |
|
33,743 |
|
26,319 |
|
|
|
|
|
|
|
|
|
|
10 |
Stocks |
2023 |
|
2022 |
£ |
£ |
|
|
Work in progress |
1,811,196 |
|
1,484,992 |
|
|
|
|
|
|
|
|
|
|
11 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
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Trade debtors |
450,271 |
|
984,279 |
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Amounts owed by group undertakings |
|
1,539,833 |
|
359,224 |
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Prepayments and accrued income |
85,124 |
|
98,561 |
|
|
|
|
|
|
2,075,228 |
|
1,442,064 |
|
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|
|
|
|
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|
|
12 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
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Obligations under finance lease and hire purchase contracts |
20,802 |
|
21,682 |
|
Trade creditors |
201,496 |
|
164,579 |
|
Client ledger |
|
|
|
|
835,673 |
|
736,115 |
|
Corporation tax |
94,387 |
|
394,550 |
|
Other taxes and social security costs |
236,915 |
|
320,088 |
|
Accruals and deferred income |
44,899 |
|
92,030 |
|
|
|
|
|
|
1,434,172 |
|
1,729,044 |
|
|
13 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
13,337 |
|
15,674 |
|
|
|
|
|
|
|
|
|
|
14 |
Obligations under finance leases and hire purchase |
2023 |
|
2022 |
|
contracts |
£ |
£ |
|
|
Amounts payable: |
|
Within one year |
20,802 |
|
21,682 |
|
Within two to five years |
13,337 |
|
15,674 |
|
|
|
|
|
|
34,139 |
|
37,356 |
|
|
|
|
|
|
|
|
|
|
|
15 |
Deferred taxation |
2023 |
|
2022 |
£ |
£ |
|
|
Accelerated capital allowances |
263,607 |
|
208,540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
2022 |
£ |
£ |
|
|
At 1 January |
208,540 |
|
136,349 |
|
Charged to the profit and loss account |
55,067 |
|
72,191 |
|
|
At 31 December |
263,607 |
|
208,540 |
|
|
|
|
|
|
|
|
|
|
|
16 |
Share capital |
Nominal |
|
2023 |
|
2023 |
|
2022 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
50,000 |
|
50,000 |
|
50,000 |
|
|
|
|
|
|
|
|
|
|
17 |
Profit and loss account |
2023 |
|
2022 |
£ |
£ |
|
|
At 1 January |
3,570,674 |
|
3,726,949 |
|
Profit for the financial year |
1,365,315 |
|
2,612,892 |
|
Dividends |
- |
|
(2,769,167) |
|
|
At 31 December |
4,935,989 |
|
3,570,674 |
|
|
|
|
|
|
|
|
|
|
18 |
Dividends |
2023 |
|
2022 |
£ |
£ |
|
|
Dividends on ordinary shares (note 17) |
- |
|
2,769,167 |
|
|
|
|
|
|
|
|
|
|
|
19 |
Defined contribution pension plans |
|
|
The company offers a defined contribution scheme for the benefit of certain employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £60,550 (2022 £54,624) |
|
|
20 |
Other financial commitments |
|
|
Total future minimum lease payments under non-cancellable operating leases: |
|
|
|
Land and buildings |
|
Land and buildings |
Other |
Other |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
£ |
£ |
£ |
£ |
|
Falling due: |
|
within one year |
100,357 |
|
78,129 |
|
8,464 |
|
8,504 |
|
within two to five years |
67,896 |
|
127,850 |
|
705 |
|
9,921 |
|
|
168,253 |
|
205,979 |
|
9,169 |
|
18,425 |
|
|
|
|
|
|
|
|
|
21 |
Analysis of changes in net debt |
|
|
At 1 January |
Cash flows |
Other non cash changes |
|
At 31 December |
|
|
2023 |
|
|
|
|
|
2023 |
£ |
£ |
£ |
£ |
|
Cash and cash equivalents |
|
Cash |
1,733,622 |
|
(76,777) |
|
|
|
1,656,845 |
|
Borrowings |
|
Debt due within one year |
(21,682) |
|
880 |
|
|
|
(20,802) |
|
Debt due after one year |
(15,674) |
|
2,337 |
|
|
|
(13,337) |
|
|
(37,356) |
|
3,217 |
|
- |
|
(34,139) |
|
|
Total |
1,696,266 |
|
(73,560) |
|
- |
|
1,622,706 |
|
|
|
|
|
|
|
|
|
|
22 |
Related party transactions |
|
|
Controlaccount Ltd during the year traded on normal commercial terms with related companies as follows:- |
|
G Ball who is a director was also a trustee of The New Victoria Hospital. |
|
Turnover £10,270 |
|
Year end Debtor £846 |
|
D Harvey who is a director is also a shareholder and director of Alloygator Ltd |
|
Turnover £276 |
|
Year end Debtor £ nil |
|
|
|
|
23 |
Controlling party |
|
|
The company is a wholly owned subsidiary of Broadriver Ltd. In the opinion of the directors the ultimate holding company at the year end was Broadriver Eot Ltd a company incorporated in England and Wales. The results are included in the consolidated accounts of Broadriver Eot Ltd and copies of the consolidated accounts can be obtained from the registered office. |
|
24 |
Presentation currency |
|
|
The financial statements are presented in Sterling. |
|
|
25 |
Legal form of entity and country of incorporation |
|
|
Controlaccount Ltd is a private company limited by shares and incorporated in England. |
|
|
26 |
Principal place of business |
|
|
The address of the company's principal place of business and registered office is: |
|
|
Compass House Waterside |
|
Hanbury Road |
|
Bromsgrove |
|
Worcestershire |
|
B60 4FD |