Registered number
01380801
Credit Recovery Systems Limited
Filleted Accounts
31 March 2024
Credit Recovery Systems Limited
Registered number: 01380801
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,702 2,450
Investments 4 170 170
3,872 2,620
Current assets
Debtors 5 54,454 24,420
Cash at bank and in hand 563,229 549,312
617,683 573,732
Creditors: amounts falling due within one year 6 (237,571) (273,540)
Net current assets 380,112 300,192
Net assets 383,984 302,812
Capital and reserves
Called up share capital 80,000 80,000
Profit and loss account 303,984 222,812
Shareholders' funds 383,984 302,812
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B L Jackson
Director
Approved by the board on 13 November 2024
Credit Recovery Systems Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain assets, and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 25% p.a. straight line
Investments
Listed investments are measured at net book value. Unlisted investments are measured at fair value. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Fixtures fittings and equipment
£
Cost
At 1 April 2023 64,821
Additions 2,567
Disposals (52,261)
At 31 March 2024 15,127
Depreciation
At 1 April 2023 62,371
Charge for the year 1,227
On disposals (52,173)
At 31 March 2024 11,425
Net book value
At 31 March 2024 3,702
At 31 March 2023 2,450
4 Investments
Listed
investments
£
Historic cost
At 1 April 2023 170
At 31 March 2024 170

Listed Investments having a net book value of £170 (2023 - £170) are held by the company and had a market value of £283 at the end of the year (2023 - £353 ).
5 Debtors 2024 2023
£ £
Trade debtors 54,024 24,029
Other debtors 430 391
54,454 24,420
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,001 3,644
Taxation and social security costs 16,544 14,572
Other creditors 219,026 255,324
237,571 273,540
7 Other information
Credit Recovery Systems Limited is a private company limited by shares and incorporated in England. Its registered office is:
49C High Street
Chislehurst
Kent
BR7 5AF
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