1 November 2023 v2025.22.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP136907432023-11-012024-10-31136907432024-10-31136907432023-10-3113690743core:WithinOneYear2024-10-3113690743core:WithinOneYear2023-10-3113690743core:AfterOneYear2023-10-3113690743core:ShareCapital2024-10-3113690743core:ShareCapital2023-10-3113690743core:RetainedEarningsAccumulatedLosses2024-10-3113690743core:RetainedEarningsAccumulatedLosses2023-10-3113690743bus:Director12023-11-012024-10-3113690743bus:RegisteredOffice2023-11-012024-10-31136907432022-11-012023-10-31136907432023-11-011369074312023-11-012024-10-3113690743countries:EnglandWales2023-11-012024-10-3113690743bus:AuditExemptWithAccountantsReport2023-11-012024-10-3113690743bus:PrivateLimitedCompanyLtd2023-11-012024-10-3113690743bus:SmallEntities2023-11-012024-10-3113690743bus:AbridgedAccounts2023-11-012024-10-31
Company registration number:
13690743
M6 Recovery Services Ltd
Unaudited Filleted Abridged Financial Statements for the year ended
31 October 2024
M6 Recovery Services Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of M6 Recovery Services Ltd
Year ended
31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
abridged financial statements
of
M6 Recovery Services Ltd
for the year ended
31 October 2024
which comprise the abridged income statement, statement of income and retained earnings, abridged statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
M6 Recovery Services Ltd
, as a body. Our work has been undertaken solely to prepare for your approval the
abridged financial statements
of
M6 Recovery Services Ltd
and state those matters that we have agreed to state to the Board of Directors of
M6 Recovery Services Ltd
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
M6 Recovery Services Ltd
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
M6 Recovery Services Ltd
has kept adequate accounting records and to prepare statutory
abridged financial statements
that give a true and fair view of the assets, liabilities, financial position and loss of
M6 Recovery Services Ltd
. You consider that
M6 Recovery Services Ltd
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the abridged financial statements of M6 Recovery Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.
Nokes & Co Accountants Ltd
Unit 7a Radford Crescent
Billericay
Essex
CM12 0DU
United Kingdom
M6 Recovery Services Ltd
Abridged Statement of Financial Position
31 October 2024
20242023
Note££
Fixed assets    
Tangible assets 5
83,598
 
101,714
 
Current assets    
Stocks
125,075
  -  
Debtors
20,789
 
12,428
 
Cash at bank and in hand
4,144
 
1,220
 
150,008
 
13,648
 
Creditors: amounts falling due within one year
(166,271
)
(31,750
)
Net current liabilities
(16,263
)
(18,102
)
Total assets less current liabilities 67,335   83,612  
Creditors: amounts falling due after more than one year -  
(13,470
)
Net assets
67,335
 
70,142
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
67,235
 
70,042
 
Shareholders funds
67,335
 
70,142
 
For the year ending
31 October 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position and the abridged income statement for the year ended
31 October 2024
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged 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.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
30 April 2025
, and are signed on behalf of the board by:
B Till
Director
Company registration number:
13690743
M6 Recovery Services Ltd
Notes to the Abridged Financial Statements
Year ended
31 October 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 7a Radford Crescent
,
Billericay
,
Essex
,
CM12 0DU
, England.

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2
).

5 Fixed assets

Tangible assets
£
Cost  
At
1 November 2023
146,048
 
Additions
9,750
 
At
31 October 2024
155,798
 
Depreciation  
At
1 November 2023
44,334
 
Charge
27,866
 
At
31 October 2024
72,200
 
Carrying amount  
At
31 October 2024
83,598
 
At 31 October 2023
101,714