Abbreviated Company Accounts - GLOBAL DEBT RECOVERY LIMITED

GLOBAL DEBT RECOVERY LIMITED - Company Information

02597906 GLOBAL DEBT RECOVERY LIMITED 2013-12-31 false 2013-01-01 2013-12-31 true 02597906 2013-01-01 2013-12-31 02597906 2013-12-31 02597906 2012-12-31 02597906 uk-gaap-cd-bus:Director1 2013-01-01 2013-12-31 02597906 uk-gaap-cd-bus:Director2 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2012-12-31 iso4217:GBP shares

Registered Number 02597906

GLOBAL DEBT RECOVERY LIMITED

Abbreviated Accounts

31 December 2013

GLOBAL DEBT RECOVERY LIMITED Registered Number 02597906

Abbreviated Balance Sheet as at 31 December 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	307,734	341,660
Investments	3	2	2
		307,736	341,662
Current assets
Debtors		2,089,951	1,558,562
Cash at bank and in hand		241,994	216,379
		2,331,945	1,774,941
Net current assets (liabilities)		2,331,945	1,774,941
Total assets less current liabilities		2,639,681	2,116,603
Creditors: amounts falling due after more than one year		(1,999,474)	(1,500,945)
Provisions for liabilities		-	(1,234)
Total net assets (liabilities)		640,207	614,424
Capital and reserves
Called up share capital	4	130	130
Profit and loss account		640,077	614,294
Shareholders' funds		640,207	614,424

For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 6 August 2014

And signed on their behalf by:
J E Bunyer, Director

GLOBAL DEBT RECOVERY LIMITED Registered Number 02597906

Notes to the Abbreviated Accounts for the period ended 31 December 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of services provided during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Plant and machinery - 33.33% straight line
Fixtures, fittings and equipment - 15% reducing balance
Motor vehicles - 25% straight line

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Pensions
The pension costs charged in the financial statements represent the contribution payable by the company during the year. The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employees' service lives on the basis of a constant percentage of earnings.

Deferred taxation

Full provision is made of deferred taxation using the liability method to take account of timing differences between the incidence of income and expenditure for taxation and accounting purposes. Deferred taxation is calculated on an undiscounted basis at the tax rates expected to apply in the period in which the timing differences will reverse.

Group accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

2Tangible fixed assets

	£
Cost
At 1 January 2013	800,339
Additions	13,809
Disposals	(48,428)
Revaluations	-
Transfers	-
At 31 December 2013	765,720
Depreciation
At 1 January 2013	458,679
Charge for the year	32,189
On disposals	(32,882)
At 31 December 2013	457,986
Net book values
At 31 December 2013	307,734
At 31 December 2012	341,660

3Fixed assets Investments
Investment details

Shares in subsidiary undertaking - £2 (2012 - £2)

4Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
100 A Ordinary shares of £1 each	100	100
30 B Ordinary shares of £1 each	30	30