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Registration number: 02935683

Commercial Credit Limited

Unaudited Financial Statements

for the Period from 1 September 2022 to 31 December 2023

 

Commercial Credit Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Commercial Credit Limited

(Registration number: 02935683)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

28,887

43,330

Current assets

 

Debtors

5

321,628

231,830

Cash at bank and in hand

 

2,264

7,621

 

323,892

239,451

Creditors: Amounts falling due within one year

6

(280,863)

(240,859)

Net current assets/(liabilities)

 

43,029

(1,408)

Total assets less current liabilities

 

71,916

41,922

Provisions for liabilities

(7,222)

(2,865)

Net assets

 

64,694

39,057

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

64,692

39,055

Shareholders' funds

 

64,694

39,057

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Commercial Credit Limited

(Registration number: 02935683)
Balance Sheet as at 31 December 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 20 September 2024 and signed on its behalf by:
 

.........................................
Mr P Galletley
Director

 

Commercial Credit Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
15 Mill Hill Drive
Sandbach
Cheshire
CW11 4PW
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Commercial Credit Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Computer equipment

33% reducing balance

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

 

Commercial Credit Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2022

4,010

99,690

10,634

114,334

At 31 December 2023

4,010

99,690

10,634

114,334

Depreciation

At 1 September 2022

4,010

56,417

10,577

71,004

Charge for the period

-

14,424

19

14,443

At 31 December 2023

4,010

70,841

10,596

85,447

Carrying amount

At 31 December 2023

-

28,849

38

28,887

At 31 August 2022

-

43,273

57

43,330

5

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

321,628

220,586

Other debtors

 

-

11,244

 

321,628

231,830

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

1,330

-

Other creditors

279,533

240,859

280,863

240,859