Debtfocus Business Recovery & Insolvency - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06831646 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Debtfocus Business Recovery &

Insolvency Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

A B Fisher

SECRETARY:

E J Fisher

REGISTERED OFFICE:

Skull House Lane

Appley Bridge

Wigan

Lancashire

WN6 9DW

REGISTERED NUMBER:

06831646 (England and Wales)

ACCOUNTANTS:

HullJady

Chartered Accountants

41 Bridgeman Terrace

Wigan

Lancashire

WN1 1TT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,618

4,825

3,618

4,825

CURRENT ASSETS

Debtors

6

940,797

724,493

Cash at bank

7

7

940,804

724,500

CREDITORS

Amounts falling due within one year

7

683,646

641,519

NET CURRENT ASSETS

257,158

82,981

TOTAL ASSETS LESS CURRENT LIABILITIES

260,776

87,806

CREDITORS

Amounts falling due after more than one year

8

(239,996

)

(64,620

)

PROVISIONS FOR LIABILITIES

(400

)

(566

)

NET ASSETS

20,380

22,620

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

20,280

22,520

SHAREHOLDERS' FUNDS

20,380

22,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director on 12 September 2019 and were signed by:

A B Fisher - Director

1.	STATUTORY INFORMATION

Debtfocus Business Recovery & Insolvency 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 recognised in full at the point at which the Company becomes entitled to charge the fee to clients.Turnover is

stated net of VAT for services provided in the United Kingdom.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of three years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2017 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

200,000

AMORTISATION

At 1 January 2018

and 31 December 2018

200,000

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2018

and 31 December 2018

24,938

DEPRECIATION

At 1 January 2018

20,113

Charge for year

1,207

At 31 December 2018

21,320

NET BOOK VALUE

At 31 December 2018

3,618

At 31 December 2017

4,825

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

625,968

398,630

Amounts recoverable on contract

250,525

259,431

Other debtors

64,304

66,432

940,797

724,493

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

457,104

467,126

Taxation and social security

75,700

72,942

Other creditors

150,842

101,451

683,646

641,519

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans

45,670

64,620

Other creditors

194,326

-

239,996

64,620

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.18

31.12.17

£

£

Bank overdrafts

437,104

447,126

Bank loans

65,670

-

502,774

447,126

All borrowings of the company are secured by personal guarantees given by the director.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Debtfocus Business Recovery & Insolvency Limited for the year ended 31 December 2018 which comprise the

Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Debtfocus Business Recovery & Insolvency Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Debtfocus Business Recovery & Insolvency Limited and state those matters that we have agreed to state to the director of Debtfocus Business Recovery & Insolvency Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Debtfocus Business Recovery & Insolvency Limited and its director for our work or for this report.

It is your duty to ensure that Debtfocus Business Recovery & Insolvency Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Debtfocus Business Recovery & Insolvency Limited. You consider that Debtfocus Business Recovery & Insolvency Limited 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 financial statements of Debtfocus Business Recovery & Insolvency Limited. 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 financial statements.

HullJady

Chartered Accountants

41 Bridgeman Terrace

Wigan

Lancashire

WN1 1TT

12 September 2019