Company registration number 00089614 (England and Wales)
CREDIT SERVICES ASSOCIATION LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
CREDIT SERVICES ASSOCIATION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CREDIT SERVICES ASSOCIATION LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,508
3,199
Investments
4
100
100
2,608
3,299
Current assets
Debtors
5
442,687
514,872
Cash at bank and in hand
495,021
203,258
937,708
718,130
Creditors: amounts falling due within one year
7
(874,623)
(706,461)
Net current assets
63,085
11,669
Net assets
65,693
14,968
Reserves
Income and expenditure account
65,693
14,968
Members' funds
65,693
14,968

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

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 January 2025 and are signed on its behalf by:
CA Hinchliffe
Director
Company registration number 00089614 (England and Wales)
CREDIT SERVICES ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Credit Services Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 2 Esh Plaza, Sir Bobby Robson Way, Great Park, Newcastle upon Tyne, Tyne and Wear, England, NE13 9BA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

 

Going concern

The financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have considered a period of twelve months from the date of approval of the financial statements and believe that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements.

 

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.

1.2
Income and expenditure

Turnover represents annual subscriptions which are recognised evenly over the period to which the subscription relates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Short leasehold
10% straight line basis
Fixtures and fittings
10% reducing balance
Computer equipment
25% to 33% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

CREDIT SERVICES ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in surplus or deficit.

 

The investment is in relation to the share capital of CSA (Services) Limited.

1.5
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.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.7

Irrecoverable VAT

The company is partially exempt from VAT. Any input VAT which is deemed irrecoverable is recognised in the profit and loss account.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
13
13
CREDIT SERVICES ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 July 2023
6,327
11,260
17,587
Disposals
(2,006)
(1,864)
(3,870)
At 30 June 2024
4,321
9,396
13,717
Depreciation and impairment
At 1 July 2023
4,601
9,787
14,388
Depreciation charged in the year
322
369
691
Eliminated in respect of disposals
(2,006)
(1,864)
(3,870)
At 30 June 2024
2,917
8,292
11,209
Carrying amount
At 30 June 2024
1,404
1,104
2,508
At 30 June 2023
1,726
1,473
3,199
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings
100
100
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
416,287
490,291
Prepayments and accrued income
26,400
24,581
442,687
514,872
6
Leasing agreements

The company has total operating lease commitments of £75,330 (2023: £103,176).

CREDIT SERVICES ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
19,374
10,804
Corporation tax
1,496
302
Other taxation and social security
41,280
36,589
Other creditors
6,692
5,840
Accruals and deferred income
805,781
652,926
874,623
706,461
8
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Michael T Moran BA FCA
Statutory Auditor:
Robson Laidler Accountants Limited
2024-06-302023-07-01false03 February 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedN J CherryCA HinchliffeF HorvathJ CowensY J MacDermidT O ChandosK M MorganJ A W ApplebyJ PeacockC LeslieTD KirkRJ SandsS J WhiteleyTR Ansonfalsefalse000896142023-07-012024-06-30000896142024-06-30000896142023-06-3000089614core:FurnitureFittings2024-06-3000089614core:ComputerEquipment2024-06-3000089614core:FurnitureFittings2023-06-3000089614core:ComputerEquipment2023-06-3000089614core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3000089614core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3000089614core:CurrentFinancialInstruments2024-06-3000089614core:CurrentFinancialInstruments2023-06-3000089614core:RetainedEarningsAccumulatedLosses2024-06-3000089614core:RetainedEarningsAccumulatedLosses2023-06-3000089614bus:Director22023-07-012024-06-3000089614core:LandBuildingscore:LongLeaseholdAssets2023-07-012024-06-3000089614core:FurnitureFittings2023-07-012024-06-3000089614core:ComputerEquipment2023-07-012024-06-30000896142022-07-012023-06-3000089614core:FurnitureFittings2023-06-3000089614core:ComputerEquipment2023-06-30000896142023-06-3000089614bus:CompanyLimitedByGuarantee2023-07-012024-06-3000089614bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3000089614bus:FRS1022023-07-012024-06-3000089614bus:Audited2023-07-012024-06-3000089614bus:Director12023-07-012024-06-3000089614bus:Director32023-07-012024-06-3000089614bus:Director42023-07-012024-06-3000089614bus:Director52023-07-012024-06-3000089614bus:Director62023-07-012024-06-3000089614bus:Director72023-07-012024-06-3000089614bus:Director82023-07-012024-06-3000089614bus:Director92023-07-012024-06-3000089614bus:Director102023-07-012024-06-3000089614bus:Director112023-07-012024-06-3000089614bus:Director122023-07-012024-06-3000089614bus:Director132023-07-012024-06-3000089614bus:Director142023-07-012024-06-3000089614bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP