Registered number
08248574
AR Legal Collections Limited
Filleted Accounts
31 December 2024
AR Legal Collections Limited
Registered number: 08248574
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,461 448
Current assets
Debtors 4 58,916 23,463
Investments held as current assets 5 3,694 3,694
Client account 509 1,238
Cash at bank and in hand 76,245 12,803
139,364 41,198
Creditors: amounts falling due within one year 6 (54,548) (28,518)
Net current assets 84,816 12,680
Total assets less current liabilities 86,277 13,128
Provisions for liabilities (225) (85)
Net assets 86,052 13,043
Capital and reserves
Called up share capital 100 100
Profit and loss account 85,952 12,943
Shareholders' funds 86,052 13,043
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.
Arno Rudolf
Director
Approved by the board on 7 April 2025
AR Legal Collections Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention 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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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, other than freehold land, 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, tools and equipment Reducing balance at 20%
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 8,142
Additions 1,125
At 31 December 2024 9,267
Depreciation
At 1 January 2024 7,581
Charge for the year 225
At 31 December 2024 7,806
Net book value
At 31 December 2024 1,461
At 31 December 2023 561
4 Debtors 2024 2023
£ £
Trade debtors 37,630 16,663
Directors loan account - 2,020
Other debtors 21,286 4,780
58,916 23,463
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 3,694 3,694
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,220 -
Client account creditor 509 1,238
Trade creditors 5,676 4,344
Taxation and social security costs 43,550 20,162
Other creditors 3,593 2,774
54,548 28,518
7 Other information
AR Legal Collections Limited is a private company limited by shares and incorporated in England. Its registered office is:
Churchill House
137-139 Brent Street
Hendon
London
NW4 4DJ
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