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REGISTERED NUMBER: 02326104 (England and Wales)














Financial Statements

for the Year Ended 30 April 2024

for

COMMERCIAL COLLECTION SERVICES LIMITED

COMMERCIAL COLLECTION SERVICES LIMITED (REGISTERED NUMBER: 02326104)

Contents of the Financial Statements
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMMERCIAL COLLECTION SERVICES LIMITED

Company Information
for the year ended 30 April 2024







Directors: K J Steward
J Godbold





Secretary: K J Steward





Registered office: Norfolk House (3rd Floor)
Wellesley Road
Croydon
Surrey
CR0 1GR





Registered number: 02326104 (England and Wales)





Auditors: Cooper Parry Group Limited
Statutory Auditor
Aissela
46 High Street
Esher
Surrey
KT10 9QY

COMMERCIAL COLLECTION SERVICES LIMITED (REGISTERED NUMBER: 02326104)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - 1,310
Tangible assets 5 75,248 113,128
75,248 114,438

Current assets
Stocks 4,380 7,551
Debtors 6 1,062,740 1,395,520
Cash at bank 327,344 198,575
1,394,464 1,601,646
Creditors
Amounts falling due within one year 7 1,088,191 1,034,174
Net current assets 306,273 567,472
Total assets less current liabilities 381,521 681,910

Creditors
Amounts falling due after more than one
year

8

-

(190,909

)

Provisions for liabilities 11 (15,489 ) (14,135 )
Net assets 366,032 476,866

Capital and reserves
Called up share capital 12 11,113 11,113
Share premium 19,888 19,888
Retained earnings 335,031 445,865
Shareholders' funds 366,032 476,866

COMMERCIAL COLLECTION SERVICES LIMITED (REGISTERED NUMBER: 02326104)

Balance Sheet - continued
30 April 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by:




J Godbold - Director



K J Steward - Director


COMMERCIAL COLLECTION SERVICES LIMITED (REGISTERED NUMBER: 02326104)

Notes to the Financial Statements
for the year ended 30 April 2024


1. Statutory information

Commercial Collection Services 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.

Going concern
The financial statements have been prepared on a going concern basis. The basis is considered appropriate by the directors.

The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. This assessment takes into consideration debt repayments post year end in relation to the CBIL loan taken out.

Based on these assessments, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

The financial statements do not include any adjustments that would be required if the going concern concept was not deemed appropriate.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Commercial Collection Services Limited has had its accounts consolidated into the consolidated accounts of the parent company CCS Group Holdings Limited. Those accounts can be obtained from the Registered Office; Norfolk House (3rd Floor), Wellesley Road, Croydon, CR0 1GR.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgements that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating bad debt provisions. A full review of trade debtors is carried out by management regularly. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

COMMERCIAL COLLECTION SERVICES LIMITED (REGISTERED NUMBER: 02326104)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


2. Accounting policies - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when debt is collected on behalf of the customer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Bought debt are being amortised evenly over their estimated useful life of five years.

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 - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred 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 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.


COMMERCIAL COLLECTION SERVICES LIMITED (REGISTERED NUMBER: 02326104)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


2. Accounting policies - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Client funds
Client funds are not recognised as an asset of the company. Client funds are held in separate designated client trust bank accounts and are disclosed by way of note detailing the amount of funds held and associated liability.

Government grants
Grant income is recognised under the accrual model of Financial Reporting Standard 102.

Grant income is recognised in the profit and loss account on a systematic basis over the period in which the company recognises the related costs for which the grant is intended to compensate.

3. Employees and directors

The average number of employees during the year was 77 (2023 - 80 ) .

COMMERCIAL COLLECTION SERVICES LIMITED (REGISTERED NUMBER: 02326104)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


4. Intangible fixed assets
Bought
debt
£   
Cost
At 1 May 2023
and 30 April 2024 23,855
Amortisation
At 1 May 2023 22,545
Amortisation for year 1,310
At 30 April 2024 23,855
Net book value
At 30 April 2024 -
At 30 April 2023 1,310

5. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 May 2023 9,157 92,732 743,225 845,114
Additions 917 - 26,328 27,245
At 30 April 2024 10,074 92,732 769,553 872,359
Depreciation
At 1 May 2023 5,468 67,842 658,676 731,986
Charge for year 1,708 15,941 47,476 65,125
At 30 April 2024 7,176 83,783 706,152 797,111
Net book value
At 30 April 2024 2,898 8,949 63,401 75,248
At 30 April 2023 3,689 24,890 84,549 113,128

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 468,431 399,140
Amounts owed by group undertakings 258,528 749,111
Prepayments and accrued income 335,781 247,269
1,062,740 1,395,520

COMMERCIAL COLLECTION SERVICES LIMITED (REGISTERED NUMBER: 02326104)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 193,852 167,993
Other loans 1,583 1,250
Trade creditors 318,682 409,615
Tax 194,700 35,000
Social security and other taxes 44,522 34,819
VAT 167,782 100,724
Other creditors 34,188 97,340
Accrued expenses 132,882 187,433
1,088,191 1,034,174

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years - 190,909

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 79,423 143,154
Between one and five years 548,360 500,321
627,783 643,475

10. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 192,677 357,707
Other loans 1,583 1,250
194,260 358,957

Shawbrook Bank PLC holds a floating and fixed charge over all the property or undertakings of CCS Group Holdings Limited and Commercial Collection Services Limited.

11. Provisions for liabilities
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 15,489 14,135

COMMERCIAL COLLECTION SERVICES LIMITED (REGISTERED NUMBER: 02326104)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


11. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 May 2023 14,135
Accelerated capital allowances 1,354
Balance at 30 April 2024 15,489

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,111,332 Ordinary £0.01 11,113 11,113

13. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Paul Hodgett BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

14. Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge amounted to £70,082 (2023: £73,154).

15. Related party disclosures

During the year, a total of key management personnel compensation of £85,748 (2023: £84,575) was paid.

16. Ultimate controlling party

The controlling party is CCS Group Holdings Limited.

There is no ultimate controlling party of CCS Group holdings Ltd.

17. Client funds

Client funds are not recognised as an asset of the company. Client funds are held in separate designated client trust bank accounts and are disclosed below;
2024 2023
£    £   

Client bank accounts 2,743,315 2,407,365
Client balances (2,743,315 ) (2,407,365 )
- -

COMMERCIAL COLLECTION SERVICES LIMITED (REGISTERED NUMBER: 02326104)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


18. Cash flow statement

The company qualifies as a small company under the Companies Act 2006. The directors have elected to take advantage of the exemption under the Financial Reporting Standard 102 section 1A not to prepare a cash flow statement.