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 |