Registered number
02765607
Controlaccount Ltd
Report and Financial Statements
31 December 2024
Controlaccount Ltd
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Strategic report 4
Independent auditors' report 6
Income statement 9
Statement of financial position 10
Statement of changes in equity 11
Statement of cash flows 12
Notes to the financial statements 13
Controlaccount Ltd
Company Information
Directors
D Harvey
G A R Ball
I Mitchell
R Jefferies
J Crouch
C Knights
Secretary
D Harvey
Auditors
CK Audit
No4 Castle Court 2
Castlegate Way
Dudley
West Midlands
DY1 4RH
Registered office
Compass House Waterside
Hanbury Road
Bromsgrove
Worcestershire
B60 4FD
Registered number
02765607
Controlaccount Ltd
Registered number: 02765607
Directors' Report
The directors present their report and financial statements for the year ended 31 December 2024.
Principal activities
The company continued to provide a wide range of credit management and business process solutions across multiple industries, including:
Credit Control
Complaint Management
Customer Service Support
Back-Office Administration & Data Services
Credit Information and Investigation (via the "identico" brand)
Cloud-Based Systems Development, notably HARP (HR & Payroll platform
These services are delivered as either integrated packages or modular solutions, enabling clients to improve operational efficiency and reduce costs.
Dividends
No dividends were declared or paid in the year on the Ordinary shares.
Directors
The following persons served as directors during the year:
D Harvey
G A R Ball
I Mitchell
R Jefferies
J Crouch
C Knights
Directors' responsibilities
The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
In accordance with the company's articles a resolution proposing that CK Audit be reappointed as auditor of the company will be put at a General Meeting.
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board on 27 May 2025 and signed on its behalf.
D Harvey
Director
Controlaccount Ltd
Strategic Report
The directors present their strategic report for the year ending 31 December 2024.
Review of the business
Overview:

While 2024 presented ongoing market instability, trading conditions steadily improved throughout the year, culminating in a more stable environment by Q4
Notably:
• Sales and profits increased, despite persistent macroeconomic challenges
• Operational consistency improved, with backlog issues in account administration returning to normal
• Q1 2025 trading met forecasts, indicating continued recovery and business resilience
Key Highlights:

• Executed millions of back-office actions across multiple client portfolios
• Delivered enhanced automation and customer resolution systems
• Continued to develop proprietary cloud platforms (CogendaWorks, HARP, identeco)
• Strengthened internal productivity and cash flow through risk analysis and process improvements
Achievements and Innovations
· Cloud Software Development: Ongoing investment in CogendaWorks, HARP, and identeco platforms enabled greater integration, automation, and scalability
· Service Quality: Maintained ISO certifications for Quality Assurance and Information Security
· Innovation: Software development remains a cornerstone of the growth strategy, helping to quickly adapt to client needs and emerging technologies
Employee Ownership Model
Since transitioning to employee ownership in 2022, the business has observed:
• Greater employee engagement
• Stronger organisational culture
• More active participation through management dialogue and quarterly newsletters
Future Outlook
The Directors are satisfied with the company's performance as reported in the financial statements. We are optimistic and focused on
• Sustainable revenue growth
• Client satisfaction
• Continued operational improvements
• European market expansion
• Maximising the use of technology to meet evolving customer demands
With trading conditions stabilising and internal capabilities maturing, the business is well-positioned for continued growth and service enhancement in 2025 and beyond.
Principal risks and uncertainties
Economic climate
• Inflation and wage pressure remained challenging, but demand for cost-effective services
stayed strong
• Successful contract retenders and new wins provided a secure base for future forecasting
Liquidity Risk
• The business retains sufficient current assets to meet obligations and support continued operations
Retention of key people
• While attrition rates remain low for long-term staff, early-stage turnover is higher in specific roles
• Focus remains on targeted recruitment, training, and employee development
Competitor activity
Operating in a crowded and competitive market, differentiation hinges on:
• Software-led efficiency
• Feature-rich service platforms
• External systems provided to support services
• Strong governance and adherence to regulation
• client-specific, value-driven solutions
Key performance indicators
KPI tracking underpins quality delivery and financial control. Notably:
• A 17% increase in earnings per productive employee was reported (YoY), reflecting improved trading conditions
• KPIs help manage output consistency, process improvement, and service quality
Summary
2024 was defined by resilience and strategic innovation. The company demonstrated:
• Effective response to economic and operational challenges
• Strengthening of internal systems and service delivery
• Strong alignment between workforce, technology, and client needs
Positioned for sustainable growth, the company enters 2025 with a clear strategic direction, competitive edge, and a motivated, invested workforce.
This report was approved by the board on 27 May 2025 and signed on its behalf.
D Harvey
Controlaccount Ltd
Independent auditors' report
to the members of Controlaccount Ltd
Opinion
We have audited the financial statements of Controlaccount Ltd(the 'company) for the year ended 31 December 2024 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the accounts:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and , except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this or other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was considered capable of detecting irregularities, including fraud
The extent to which our procedures are capable of detecting Irregularities, including fraud, is detailed below.
We identified and assessed the risks of material misstatement of the financial statements, in respect of irregularities whether due to fraud or error, or non compliance with laws and regulations and then designed and performed audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company by discussion and enquiry with the directors and management team and our general knowledge and experience of the debt collection industry.
We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, employment, and health and safety legislation;
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing correspondence with relevant regulators
Audit responses to risks identified
We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed included but were not limited to:
- Discussions with directors and management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- Confirming our understanding of controls by performing a walk through test or observation and enquiry;
- Performing analytical procedures to identify any unusual or unexpected relationships;
- Challenging assumptions and judgements made by management in accounting for collections in progress at the year end, including estimation of success rate;
- Identifying and testing journal entries;
- Reviewing unusual or unexpected transactions; and
- Agreeing the financial statement disclosures to underlying supporting documentation.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Frances Clapham
(Senior Statutory Auditor) No4 Castle Court 2
for and on behalf of Castlegate Way
CK Audit Dudley
Accountants and Statutory Auditors West Midlands
27 May 2025 DY1 4RH
Controlaccount Ltd
Income Statement
for the year ended 31 December 2024
Notes 2024 2023
£ £
Turnover 2 6,585,429 6,052,271
Cost of sales (2,598,014) (2,390,639)
Gross profit 3,987,415 3,661,632
Administrative expenses (2,139,031) (2,165,423)
Operating profit 3 1,848,384 1,496,209
Interest receivable 16,253 15,688
Interest payable 6 (4,373) (5,028)
Profit on ordinary activities before taxation 1,860,264 1,506,869
Tax on profit on ordinary activities 7 (308,419) (141,554)
Total comprehensive income for the financial year 1,551,845 1,365,315
The income statement has been prepared on the basis of all operations continuing.
The notes form part of these financial statements
Controlaccount Ltd
Registered number: 02765607
Statement of Financial Position
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 8 84,362 59,977
Tangible assets 9 1,330,597 1,093,859
1,414,959 1,153,836
Current assets
Stocks 10 2,072,822 1,811,196
Debtors 11 3,343,187 2,075,228
Cash at bank and in hand 1,328,211 1,656,845
6,744,220 5,543,269
Creditors: amounts falling due within one year 12 (1,291,926) (1,434,172)
Net current assets 5,452,294 4,109,097
Total assets less current liabilities 6,867,253 5,262,933
Creditors: amounts falling due after more than one year 13 (4,853) (13,337)
Provisions for liabilities
Deferred taxation 15 (324,566) (263,607)
Net assets 6,537,834 4,985,989
Capital and reserves
Called up share capital 16 50,000 50,000
Profit and loss account 17 6,487,834 4,935,989
Total equity 6,537,834 4,985,989
D Harvey
Director
Approved by the board on 27 May 2025
The notes form part of these financial statements
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
Controlaccount Ltd
Statement of Changes in Equity
for the year ended 31 December 2024
Share Profit Total
capital and loss
account
£ £ £
At 1 January 2023 50,000 3,570,674 3,620,674
Profit for the financial year 1,365,315 1,365,315
At 31 December 2023 50,000 4,935,989 4,985,989
At 1 January 2024 50,000 4,935,989 4,985,989
Profit for the financial year 1,551,845 1,551,845
At 31 December 2024 50,000 6,487,834 6,537,834
Controlaccount Ltd
Statement of Cash Flows
for the year ended 31 December 2024
Notes 2024 2023
£ £
Operating activities
Profit for the financial year 1,551,845 1,365,315
Adjustments for:
Interest receivable (16,253) (15,688)
Interest payable 4,373 5,028
Tax on profit on ordinary activities 308,419 141,554
Depreciation 30,919 51,404
Amortisation of intangibles 4,801 6,664
Increase in stocks (261,626) (326,204)
Increase in debtors (1,267,959) (633,164)
(Decrease)/increase in creditors (282,840) 6,171
71,679 601,080
Interest received 16,253 15,688
Interest paid (4,373) (5,028)
Corporation tax paid (94,441) (386,650)
Cash (used in)/generated by operating activities (10,882) 225,090
Investing activities
Payments to acquire intangible fixed assets (38,822) (35,632)
Payments to acquire tangible fixed assets (258,021) (263,018)
Proceeds from sale of intangible fixed assets 9,636 -
Proceeds from sale of tangible fixed assets (9,636) -
Cash used in investing activities (296,843) (298,650)
Financing activities
Capital element of finance lease payments (20,909) (3,217)
Cash used in financing activities (20,909) (3,217)
Net cash used
Cash (used in)/generated by operating activities (10,882) 225,090
Cash used in investing activities (296,843) (298,650)
Cash used in financing activities (20,909) (3,217)
Net cash used (328,634) (76,777)
Cash and cash equivalents at 1 January 1,656,845 1,733,622
Cash and cash equivalents at 31 December 1,328,211 1,656,845
Cash and cash equivalents comprise:
Cash at bank 1,328,211 1,656,845
Controlaccount Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Summary of significant accounting policies
Basis of preparation
The financial statements 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rendering of services and is adjusted for the movement in work in progress.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any impairment losses. Amortisation is provided to write off the cost over periods expected to benefit from them, with amortisation beginning only when the underlying products have been brought to market.
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 to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 4,5,7 and 10 years straight line
Fixtures and fittings over 4,5,and 7 years straight line
Work in progress
Work in progress is measured at the lower of cost and net realisable value. Cost comprises all services carried out towards debt recovery, and due to commission and fees being only receivable on successful recovery, the anticipated success rate is applied on each category of debt to these costs. Net realisable value is the commission and fees on the successful debt collection.
Judgements and key sources of estimation uncertainty
In preparing work in progress reports management use estimates to assess the likelihood of recovering cost outlaid during the year, held against uncompleted work at the year end. All such estimates are rigorously assessed and tested using extensive KPI reporting metrics within the business which include but are not limited to sector performance data, customer performance data, process success rates, the performance of legal providers and other external contractors. All KPI analysis is current and any change in performance is considered within all key estimates used.
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 recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
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. Current and deferred tax assets and liabilities are not discounted.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Analysis of turnover 2024 2023
£ £
Services rendered 6,585,429 6,052,271
By geographical market:
UK 5,932,235 5,265,491
Europe 652,830 786,404
Rest of world 364 376
6,585,429 6,052,271
The turnover and profit for the year has been derived from its principal activities.
3 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 23,890 40,876
Depreciation of assets held under finance leases and hire purchase contracts 7,029 10,528
Amortisation of intangible assets 4,801 6,664
Operating lease rentals - plant and machinery 11,625 11,625
Operating lease rentals - land and buildings 150,774 150,057
Auditors' remuneration for audit services 11,750 12,000
4 Directors' emoluments 2024 2023
£ £
Emoluments 519,688 532,317
Company contributions to defined contribution pension plans 34,231 27,879
553,919 560,196
Highest paid director:
Emoluments 163,548 167,013
Company contributions to defined contribution pension plans 4,906 6,542
168,454 173,555
Number of directors to whom retirement benefits accrued: 2024 2023
Number Number
Defined contribution plans 5 5
5 Staff costs 2024 2023
£ £
Wages and salaries 2,149,765 2,195,383
Social security costs 216,549 220,114
Other pension costs 85,595 60,550
2,451,909 2,476,047
Average number of employees during the year Number Number
Administration 29 33
Collectors 42 45
71 78
6 Interest payable 2024 2023
£ £
Other loans 4,373 5,028
7 Taxation 2024 2023
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 247,460 94,387
Adjustments in respect of previous periods - (7,900)
247,460 86,487
Deferred tax:
Origination and reversal of timing differences 60,959 55,067
Tax on profit on ordinary activities 308,419 141,554
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2024 2023
£ £
Profit on ordinary activities before tax 1,860,264 1,506,869
Standard rate of corporation tax in the UK 25.00% 23.52%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax 465,066 354,416
Effects of:
Expenses not deductible for tax purposes and intergroup surrender (67,727) (101,913)
Enhanced research and development (92,529) (108,714)
Capital allowances for period in excess of depreciation (57,350) (49,402)
Adjustments to tax charge in respect of previous periods - (7,900)
Current tax charge for period 247,460 86,487
Factors that may affect future tax charges
The provision for deferred tax is calculated based on tax rates enacted or substantially enacted at the balance sheet date. The rate of corporation tax at 1 April 2025 is 25%. It is expected that the deferred tax will unwind at the rate of 25%.
8 Intangible fixed assets £
P R Branding
Cost
At 1 January 2024 69,891
Additions 38,822
At 31 December 2024 108,713
Amortisation
At 1 January 2024 9,914
Provided during the year 4,801
Transfers from tangibles 9,636
At 31 December 2024 24,351
Carrying amount
At 31 December 2024 84,362
At 31 December 2023 59,977
PR Branding is written off over periods of 4 and 10 years
9 Tangible fixed assets
Computer Equipment Fixtures and fittings Total
£ £ £
Cost
At 1 January 2024 1,264,490 40,046 1,304,536
Additions 241,039 16,982 258,021
At 31 December 2024 1,505,529 57,028 1,562,557
Depreciation
At 1 January 2024 180,709 29,968 210,677
Charge for the year 30,702 217 30,919
Transfers from Intangibles (9,636) - (9,636)
At 31 December 2024 201,775 30,185 231,960
Carrying amount
At 31 December 2024 1,303,754 26,843 1,330,597
At 31 December 2023 1,083,781 10,078 1,093,859
2024 2023
£ £
Carrying value of plant and machinery included above held under finance leases and hire purchase contracts 26,724 33,743
10 Stocks 2024 2023
£ £
Work in progress 2,072,822 1,811,196
11 Debtors 2024 2023
£ £
Trade debtors 636,512 450,271
Amounts owed by group undertakings 2,610,060 1,539,833
Prepayments and accrued income 96,615 85,124
3,343,187 2,075,228
12 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 8,377 20,802
Trade creditors 185,036 201,496
Client ledger 574,483 835,673
Corporation tax 247,406 94,387
Other taxes and social security costs 229,033 236,915
Accruals and deferred income 47,591 44,899
1,291,926 1,434,172
13 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 4,853 13,337
14 Obligations under finance leases and hire purchase 2024 2023
contracts £ £
Amounts payable:
Within one year 8,377 20,802
Within two to five years 4,853 13,337
13,230 34,139
15 Deferred taxation 2024 2023
£ £
Accelerated capital allowances 324,566 263,607
2024 2023
£ £
At 1 January 263,607 208,540
Charged to the profit and loss account 60,959 55,067
At 31 December 324,566 263,607
16 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 50,000 50,000 50,000
17 Profit and loss account 2024 2023
£ £
At 1 January 4,935,989 3,570,674
Profit for the financial year 1,551,845 1,365,315
At 31 December 6,487,834 4,935,989
18 Defined contribution pension plans
The company offers a defined contribution scheme for the benefit of certain employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £85,595 (2023 £60,550)
19 Other financial commitments
Total future minimum lease payments under non-cancellable operating leases:
Land and buildings Land and buildings Other Other
2024 2023 2024 2023
£ £ £ £
Falling due:
within one year 120,179 100,191 2,116 8,464
within two to five years 13,250 67,179 - 2,116
133,429 167,370 2,116 10,580
20 Analysis of changes in net debt
At 1 January Cash flows Other non cash changes At 31 December
2024 2024
£ £ £ £
Cash and cash equivalents
Cash 1,656,845 (328,634) 1,328,211
Borrowings
Debt due within one year (20,802) 12,425 (8,377)
Debt due after one year (13,337) 8,484 (4,853)
(34,139) 20,909 - (13,230)
Total 1,622,706 (307,725) - 1,314,981
21 Related party transactions
Controlaccount Ltd during the year traded on normal commercial terms with related companies as follows:-
G Ball who is a director was also a trustee of The New Victoria Hospital.
Turnover £19,745
Year end Debtor £16,313
D Harvey who is a director is also a shareholder and director of Alloygator Ltd
Turnover £2958
Year end Debtor £360
22 Controlling party
The company is a wholly owned subsidiary of Broadriver Ltd. In the opinion of the directors the ultimate holding company at the year end was Broadriver Eot Ltd a company incorporated in England and Wales. The results are included in the consolidated accounts of Broadriver Eot Ltd and copies of the consolidated accounts can be obtained from the registered office.
23 Presentation currency
The financial statements are presented in Sterling.
24 Legal form of entity and country of incorporation
Controlaccount Ltd is a private company limited by shares and incorporated in England.
25 Principal place of business
The address of the company's principal place of business and registered office is:
Compass House Waterside
Hanbury Road
Bromsgrove
Worcestershire
B60 4FD
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