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REGISTERED NUMBER: 03593833 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 June 2024

for

EURODEBT RECOVERY LIMITED

EURODEBT RECOVERY LIMITED (REGISTERED NUMBER: 03593833)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 6

EURODEBT RECOVERY LIMITED

Company Information
for the Year Ended 30 June 2024







Director: C Freeman-Palmer





Registered office: 5 Mercury Road
Gallowfields Trading Estate
Richmond
North Yorkshire
DL10 4TQ





Registered number: 03593833 (England and Wales)





Accountants: Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

EURODEBT RECOVERY LIMITED (REGISTERED NUMBER: 03593833)

Abridged Balance Sheet
30 June 2024

30/6/24 30/6/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 450,014 462,541

Current assets
Stocks 458,685 370,654
Debtors 32,310 77,369
Cash at bank 265,250 391,258
756,245 839,281
Creditors
Amounts falling due within one year 106,222 132,921
Net current assets 650,023 706,360
Total assets less current liabilities 1,100,037 1,168,901

Creditors
Amounts falling due after more than one
year

(48,844

)

(95,942

)

Provisions for liabilities (5,107 ) (6,362 )
Net assets 1,046,086 1,066,597

Capital and reserves
Called up share capital 51 51
Revaluation reserve 75,000 75,000
Capital redemption reserve 49 49
Retained earnings 970,986 991,497
1,046,086 1,066,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

EURODEBT RECOVERY LIMITED (REGISTERED NUMBER: 03593833)

Abridged Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 November 2024 and were signed by:





C Freeman-Palmer - Director


EURODEBT RECOVERY LIMITED (REGISTERED NUMBER: 03593833)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Eurodebt Recovery 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 as modified by the revaluation of certain assets.

The financial statements have been prepared under the going concern basis of accounting.

Turnover
Turnover represents the value of work carried out during the year including amounts not yet invoiced, excluding value added tax. Income is being recognised according to the stage of completion of work done.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - Straight line over 20 years
Plant and machinery - 15% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

EURODEBT RECOVERY LIMITED (REGISTERED NUMBER: 03593833)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 July 2023 667,100
Additions 2,438
Disposals (80,982 )
At 30 June 2024 588,556
DEPRECIATION
At 1 July 2023 204,559
Charge for year 14,965
Eliminated on disposal (80,982 )
At 30 June 2024 138,542
NET BOOK VALUE
At 30 June 2024 450,014
At 30 June 2023 462,541

The company has chosen to use a previous GAAP valuation for freehold property as its deemed cost for future periods when transitioning to FRS 102 for the first time under FRS 102 35.10 (d). Had the freehold property not been revalued the original cost was £312,111.

Accountants' Report to the Director
on the Unaudited Financial Statements of
Eurodebt Recovery Limited

The following reproduces the text of the report prepared for the director 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 Abridged Income Statement and certain other primary statements and the Report of the Director 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 Eurodebt Recovery Limited for the year ended 30 June 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet 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 director of Eurodebt Recovery Limited in accordance with the terms of our engagement letter dated 11 January 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Eurodebt Recovery Limited and state those matters that we have agreed to state to the director of Eurodebt Recovery Limited 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 director for our work or for this report.

It is your duty to ensure that Eurodebt Recovery 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 Eurodebt Recovery Limited. You consider that Eurodebt Recovery 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 Eurodebt Recovery 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.






Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH


18 November 2024