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REGISTERED NUMBER: 04262608 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Direct Recovery Limited

Direct Recovery Limited (Registered number: 04262608)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Direct Recovery Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr M J Cope
Mr S J Cope





SECRETARY: Mr S J Cope





REGISTERED OFFICE: Northside Yard
Battle Road
Staplecross
ROBERTSBRIDGE
East Sussex
TN32 5QT





REGISTERED NUMBER: 04262608 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Bank Chambers
61 High Street
Cranbrook
Kent
TN17 3EG

Direct Recovery Limited (Registered number: 04262608)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 179,190 183,773

CURRENT ASSETS
Stocks 4,629 4,629
Debtors 5 13,536 1,755
Cash at bank 100,665 57,404
118,830 63,788
CREDITORS
Amounts falling due within one year 6 56,688 47,547
NET CURRENT ASSETS 62,142 16,241
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,332

200,014

CREDITORS
Amounts falling due after more than one
year

7

(14,270

)

(15,926

)

PROVISIONS FOR LIABILITIES (12,515 ) (12,179 )
NET ASSETS 214,547 171,909

CAPITAL AND RESERVES
Called up share capital 8 3 3
Retained earnings 214,544 171,906
SHAREHOLDERS' FUNDS 214,547 171,909

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Direct Recovery Limited (Registered number: 04262608)

Balance Sheet - continued
31 August 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 12 May 2025 and were signed on its behalf by:




Mr M J Cope - Director



Mr S J Cope - Director


Direct Recovery Limited (Registered number: 04262608)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Direct Recovery Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Direct Recovery Limited (Registered number: 04262608)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 200,165 168,696 13,616 1,460 383,937
Additions - 10,385 1,015 - 11,400
Disposals - (800 ) - - (800 )
At 31 August 2024 200,165 178,281 14,631 1,460 394,537
DEPRECIATION
At 1 September 2023 55,249 133,946 9,759 1,210 200,164
Charge for year 4,006 10,686 1,176 101 15,969
Eliminated on disposal - (786 ) - - (786 )
At 31 August 2024 59,255 143,846 10,935 1,311 215,347
NET BOOK VALUE
At 31 August 2024 140,910 34,435 3,696 149 179,190
At 31 August 2023 144,916 34,750 3,857 250 183,773

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 10,983 1,099
Other debtors 2,553 656
13,536 1,755

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 722 758
Taxation and social security 32,359 22,588
Other creditors 23,607 24,201
56,688 47,547

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Other creditors 14,270 15,926

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
3 Ordinary £1 3 3