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REGISTERED NUMBER: 08699864 (England and Wales)













Financial Statements

for the Year Ended 31 December 2024

for

My Credit Controllers Ltd

My Credit Controllers Ltd (Registered number: 08699864)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


My Credit Controllers Ltd

Company Information
for the year ended 31 December 2024







DIRECTORS: Ms S White
Dr M C Davies
Mr S A Elmes





SECRETARY: Ms S White





REGISTERED OFFICE: McCue House
70 Wilton Road
Wilton Road Industrial Estate
Humberston
North East Lincolnsh
DN36 4AW





REGISTERED NUMBER: 08699864 (England and Wales)





ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

My Credit Controllers Ltd (Registered number: 08699864)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,208
Tangible assets 5 6,990 10,530
6,990 11,738

CURRENT ASSETS
Debtors 6 31,445 36,337
Cash at bank 37,136 34,236
68,581 70,573
CREDITORS
Amounts falling due within one year 7 42,374 45,949
NET CURRENT ASSETS 26,207 24,624
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,197

36,362

PROVISIONS FOR LIABILITIES 1,328 309
NET ASSETS 31,869 36,053

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 31,569 35,753
SHAREHOLDERS' FUNDS 31,869 36,053

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

My Credit Controllers Ltd (Registered number: 08699864)

Statement of Financial Position - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





Ms S White - Director


My Credit Controllers Ltd (Registered number: 08699864)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

My Credit Controllers Ltd 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.

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.

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

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.

Patents and licences are being amortised evenly over their estimated useful life of one years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 50% on cost and 33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

My Credit Controllers Ltd (Registered number: 08699864)

Notes to the Financial Statements - continued
for the year ended 31 December 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.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measures at the present value of future payments, discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 8,430
AMORTISATION
At 1 January 2024 7,222
Charge for year 1,208
At 31 December 2024 8,430
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 1,208

My Credit Controllers Ltd (Registered number: 08699864)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 745 78,417 79,162
Additions - 2,892 2,892
At 31 December 2024 745 81,309 82,054
DEPRECIATION
At 1 January 2024 635 67,997 68,632
Charge for year 110 6,322 6,432
At 31 December 2024 745 74,319 75,064
NET BOOK VALUE
At 31 December 2024 - 6,990 6,990
At 31 December 2023 110 10,420 10,530

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,397 33,962
Prepayments and accrued income 2,048 2,375
31,445 36,337

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,324 9,141
Social security and other taxes 6,455 6,958
VAT 16,240 17,421
Other creditors 2,298 2,269
Accruals and deferred income 7,057 10,160
42,374 45,949