CCS Group Holdings Limited - Limited company accounts 18.2

REGISTERED NUMBER: 09891872 (England and Wales)

Report of the Directors and

Unaudited

Consolidated Financial Statements

for the Year Ended 30 April 2019

for

CCS GROUP HOLDINGS LIMITED

Page

Company Information

1

Report of the Directors

2

Chartered Accountants' Report

3

Consolidated Statement of Comprehensive Income

4

Consolidated Balance Sheet

5

Company Balance Sheet

7

Consolidated Statement of Changes in Equity

9

Company Statement of Changes in Equity

10

Notes to the Consolidated Financial Statements

11

Directors:

K J Steward

J Godbold

Registered office:

Norfolk House (3rd Floor)

Wellesley Road

Croydon

Surrey

CR0 1GR

Registered number:

09891872 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

The directors present their report with the financial statements of the company and the group for the year ended

30 April 2019.

Principal activity

The principal activity of the group in the year under review was that of debt collection.

Directors

The directors shown below have held office during the whole of the period from 1 May 2018 to the date of this report.

K J Steward

J Godbold

Statement of directors' responsibilities

The directors are responsible for preparing the Report of the Directors and the 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 (United Kingdom Accounting Standards and applicable law), including Financial Reporting

Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the group and of the profit or loss of the group 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 accounting estimates that are reasonable and prudent;

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the

company and the group 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 the group and hence for taking reasonable

steps for the prevention and detection of fraud and other irregularities.

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:

K J Steward - Director

31 January 2020

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

financial statements of CCS Group Holdings Limited for the year ended 30 April 2019 which comprise the

Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet,

Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity and the related notes from

the company's and the group'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 Board of Directors of CCS Group Holdings Limited, as a body, in accordance with

our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements

of CCS Group Holdings Limited and state those matters that we have agreed to state to the Board of Directors of CCS

Group Holdings Limited, as a body, 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 CCS Group Holdings

Limited the company and the group and the company's Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that CCS Group Holdings 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

CCS Group Holdings Limited. You consider that CCS Group Holdings 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 CCS Group Holdings

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.

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

31 January 2020

Turnover

3,823,964

3,975,477

Cost of sales

(2,202,380

)

(2,442,240

)

Gross profit

1,621,584

1,533,237

Administrative expenses

(1,326,128

)

(1,324,175

)

Operating profit

295,456

209,062

Interest receivable and similar income

220

160

295,676

209,222

Interest payable and similar expenses

(47,884

)

(51,865

)

Profit before taxation

247,792

157,357

Tax on profit

(37,458

)

18,436

Profit for the financial year

210,334

175,793

Other comprehensive income

-

-

Total comprehensive income for the year

210,334

175,793

Profit attributable to:

Owners of the parent

210,334

175,793

Total comprehensive income attributable to:

Owners of the parent

210,334

175,793

Fixed assets

Intangible assets

6

1,184,099

1,332,862

Tangible assets

7

50,274

67,426

Investments

8

-

-

1,234,373

1,400,288

Current assets

Stocks

7,986

17,067

Debtors

9

593,874

554,043

601,860

571,110

Creditors

Amounts falling due within one year

10

1,355,504

873,253

Net current liabilities

(753,644

)

(302,143

)

Total assets less current liabilities

480,729

1,098,145

Creditors

Amounts falling due after more than one year

11

-

682,750

Net assets

480,729

415,395

Capital and reserves

Called up share capital

14

100

100

Share premium

368,327

368,327

Retained earnings

112,302

46,968

Shareholders' funds

480,729

415,395

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for

the year ended 30 April 2019.

The members have not required the company and the group to obtain an audit of its financial statements for the year

ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

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 on 31 January 2020 and were signed on its behalf

by:

J Godbold - Director

K J Steward - Director

Fixed assets

Intangible assets

6

-

-

Tangible assets

7

-

-

Investments

8

2,110,023

2,110,023

2,110,023

2,110,023

Current assets

Debtors

9

-

350

Creditors

Amounts falling due within one year

10

1,628,412

1,158,918

Net current liabilities

(1,628,412

)

(1,158,568

)

Total assets less current liabilities

481,611

951,455

Creditors

Amounts falling due after more than one year

11

-

582,750

Net assets

481,611

368,705

Capital and reserves

Called up share capital

14

100

100

Share premium

368,327

368,327

Retained earnings

113,184

278

Shareholders' funds

481,611

368,705

Company's profit for the financial year

257,906

120,278

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 on 31 January 2020 and were signed on its behalf by:

K J Steward - Director

J Godbold - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 May 2017

100

(8,825

)

368,327

359,602

Changes in equity

Dividends

-

(120,000

)

-

(120,000

)

Total comprehensive income

-

175,793

-

175,793

Balance at 30 April 2018

100

46,968

368,327

415,395

Changes in equity

Dividends

-

(145,000

)

-

(145,000

)

Total comprehensive income

-

210,334

-

210,334

Balance at 30 April 2019

100

112,302

368,327

480,729

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 May 2017

100

-

368,327

368,427

Changes in equity

Dividends

-

(120,000

)

-

(120,000

)

Total comprehensive income

-

120,278

-

120,278

Balance at 30 April 2018

100

278

368,327

368,705

Changes in equity

Dividends

-

(145,000

)

-

(145,000

)

Total comprehensive income

-

257,906

-

257,906

Balance at 30 April 2019

100

113,184

368,327

481,611

1.	Statutory information

CCS Group Holdings 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 General 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.

Basis of consolidation

The consolidated income statement and balance sheet include the financial statements of the company and its

subsidiary companies made up to the 30 April 2017. Intra-group sales and profits are eliminated on

consolidation.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the

financial statements.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is

carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as

accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately

prove to be uncollectable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Revenue is recognised when debt is collected on behalf of the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

The directors' are of the opinion that the bought debt does not have a reliable useful economic life and

therefore the intangible asset is stated at cost less impairments.

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

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% 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.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party

to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and Loss

Account, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension

scheme are charged to profit or loss in the period to which they relate.

Client funds

Client funds are not recognised as an asset of the company. Client Funds are held in separate designated client

trust bank accounts and are disclosed by way of note detailing the amount of funds held and associated

liability.

3.	Employees and directors

The average number of employees during the year was 73 (2018 - 76 ) .

4.	Individual statement of comprehensive income

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the

parent company is not presented as part of these financial statements.

5.

Dividends

2019

2018

£

£

Ordinary A shares of £0.01 each

Interim

122,926

101,732

Ordinary B shares of £0.01 each

Interim

22,074

18,268

145,000

120,000

6.	Intangible fixed assets

Group

Bought

Goodwill

debt

Totals

£

£

£

Cost

At 1 May 2018

and 30 April 2019

1,484,318

5,258

1,489,576

Amortisation

At 1 May 2018

156,158

556

156,714

Amortisation for year

148,432

331

148,763

At 30 April 2019

304,590

887

305,477

Net book value

At 30 April 2019

1,179,728

4,371

1,184,099

At 30 April 2018

1,328,160

4,702

1,332,862

7.	Tangible fixed assets

Group

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

Cost

At 1 May 2018

5,193

18,153

80,517

103,863

Additions

496

49

15,440

15,985

At 30 April 2019

5,689

18,202

95,957

119,848

Depreciation

At 1 May 2018

1,571

4,431

30,435

36,437

Charge for year

1,458

3,947

27,732

33,137

At 30 April 2019

3,029

8,378

58,167

69,574

Net book value

At 30 April 2019

2,660

9,824

37,790

50,274

At 30 April 2018

3,622

13,722

50,082

67,426

8.	Fixed asset investments

Company

Shares in

group

undertakings

£

Cost

At 1 May 2018

and 30 April 2019

2,110,023

Net book value

At 30 April 2019

2,110,023

At 30 April 2018

2,110,023

The group or the company's investments at the Balance Sheet date in the share capital of companies include

the following:

Subsidiary

Commercial Collection Services Limited

Registered office: Norfolk House (3rd Floor), Wellesy Road, Croydon, Surrey, CR0 1GR

Nature of business: Debt collection

%

Class of shares:

holding

Ordinary

100.00

2019

2018

£

£

Aggregate capital and reserves

929,415

828,554

Profit for the year

465,861

424,947

9.

Debtors: amounts falling due within one year

Group

Company

2019

2018

2019

2018

£

£

£

£

Trade debtors

321,170

293,976

-

-

Other debtors

272,704

260,067

-

350

593,874

554,043

-

350