Registration number:
Applied Credit Limited
for the Period from 19 March 2024 to 31 December 2024
Applied Credit Limited
(Registration number: 15576733)
Balance Sheet as at 31 December 2024
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Note |
31 December |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
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Shareholders' deficit |
( |
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Approved and authorised by the
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Applied Credit Limited
Notes to the Financial Statements for the Period from 19 March 2024 to 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is:
Level 6
68 King William Street
London
EC4N 7HR
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 disclosure and presentation requirements of Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The company's functional and presentation currency is pound sterling.
Going concern
At the period end the company has net liabilities of £815,958. The company is dependent upon the continued support of its parent undertaking. On the basis that the parent undertaking has indicated that this support will continue, the directors have prepared the accounts on a going concern basis.
Applied Credit Limited
Notes to the Financial Statements for the Period from 19 March 2024 to 31 December 2024
Audit report
The name of the Senior Statutory Auditor who signed the audit report on
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Applied Credit Limited
Notes to the Financial Statements for the Period from 19 March 2024 to 31 December 2024
Financial instruments
Basic financial assets, including trade and other receivables, are initially recognised at transaction price, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 and any subsequent reversal is recognised in profit or loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 receipts discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
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Debtors |
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Current |
31 December |
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Other debtors |
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Applied Credit Limited
Notes to the Financial Statements for the Period from 19 March 2024 to 31 December 2024
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Creditors |
Creditors: amounts falling due within one year
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31 December |
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Due within one year |
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Amounts owed to group undertakings |
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Taxation and social security |
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Accruals and deferred income |
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Share capital |
Allotted, called up and not fully paid shares
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31 December |
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No. |
£ |
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800.00 |
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200.00 |
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1,000 |
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Related party transactions |
Expenditure with and payables to related parties
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2024 |
Parent |
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Settlement of liabilities |
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Amounts payable to related party |
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Parent Comapny
The parent company of the smallest group to which the entity belongs, that prepares consolidated accounts is United Risk Holdings LLC. Their registered address is Corporation Trust Centre 1209 Orange St, Wilmington, New Castle, DE, 19801.