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REGISTERED NUMBER: 05835995 (England and Wales)










CURO RESOURCING LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






CURO RESOURCING LIMITED (REGISTERED NUMBER: 05835995)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Report of the Directors 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 5


CURO RESOURCING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mrs A Andrews
Mrs K C Field
M G Sewell
M S Twining





REGISTERED OFFICE: Green Acres Manor
Llanboidy
Whitland
Carmarthenshire
SA34 0EE





REGISTERED NUMBER: 05835995 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

CURO RESOURCING LIMITED (REGISTERED NUMBER: 05835995)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

Mrs A Andrews
Mrs K C Field
M G Sewell
M S Twining

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs K C Field - Director


18 June 2025

CURO RESOURCING LIMITED (REGISTERED NUMBER: 05835995)

STATEMENT OF INCOME AND
RETAINED EARNINGS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   

TURNOVER 9,267,526 8,748,280

Cost of sales (7,332,894 ) (6,981,322 )
GROSS PROFIT 1,934,632 1,766,958

Administrative expenses (1,541,785 ) (1,601,178 )
OPERATING PROFIT 4 392,847 165,780


Interest payable and similar expenses (13,207 ) (9,351 )
PROFIT BEFORE TAXATION 379,640 156,429

Tax on profit (95,034 ) (45,704 )
PROFIT FOR THE FINANCIAL YEAR 284,606 110,725

Retained earnings at beginning of year 278,658 253,933

Dividends (150,277 ) (86,000 )

RETAINED EARNINGS AT END OF YEAR 412,987 278,658

CURO RESOURCING LIMITED (REGISTERED NUMBER: 05835995)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 95,925 97,127

CURRENT ASSETS
Debtors 6 1,752,629 1,916,195
Cash at bank 20,009 67,666
1,772,638 1,983,861
CREDITORS
Amounts falling due within one year 7 1,385,288 1,720,963
NET CURRENT ASSETS 387,350 262,898
TOTAL ASSETS LESS CURRENT
LIABILITIES

483,275

360,025

CREDITORS
Amounts falling due after more than one
year

8

(11,127

)

(21,941

)

PROVISIONS FOR LIABILITIES (23,981 ) (24,246 )
NET ASSETS 448,167 313,838

CAPITAL AND RESERVES
Called up share capital 536 536
Share premium 34,644 34,644
Retained earnings 412,987 278,658
448,167 313,838

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2025 and were signed on its behalf by:





Mrs K C Field - Director


CURO RESOURCING LIMITED (REGISTERED NUMBER: 05835995)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Curo Resourcing 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.

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.
Office Equipment - 25% on cost
Office Furniture - 25% on cost
Bespoke Software - 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

CURO RESOURCING LIMITED (REGISTERED NUMBER: 05835995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

CURO RESOURCING LIMITED (REGISTERED NUMBER: 05835995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Going Concern
The company continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2023 - 43 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 24,667 21,424

5. TANGIBLE FIXED ASSETS
Office Office Bespoke
Equipment Furniture Software Totals
£    £    £    £   
COST
At 1 October 2023 22,508 16,534 150,248 189,290
Additions 22,304 1,161 - 23,465
At 30 September 2024 44,812 17,695 150,248 212,755
DEPRECIATION
At 1 October 2023 11,294 12,784 68,085 92,163
Charge for year 8,406 2,203 14,058 24,667
At 30 September 2024 19,700 14,987 82,143 116,830
NET BOOK VALUE
At 30 September 2024 25,112 2,708 68,105 95,925
At 30 September 2023 11,214 3,750 82,163 97,127

CURO RESOURCING LIMITED (REGISTERED NUMBER: 05835995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,701,947 1,858,286
Other debtors 50,682 57,909
1,752,629 1,916,195

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 163,227 591,003
Trade creditors 105,526 402,337
Taxation and social security 680,351 401,958
Other creditors 436,184 325,665
1,385,288 1,720,963

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,127 21,941

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Invoice discounting loan 152,413 580,876

Amounts due under the invoice discounting facility, as indicated above, are secured upon the value of sales invoices outstanding at any point in time.