Account Recovery Limited - Filleted accounts

Account Recovery Limited - Filleted accounts

ACCOUNT RECOVERY LIMITED - Company Information

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Registered number
02721022
Account Recovery Limited
Filleted Accounts
30 June 2017
Account Recovery Limited
Registered number: 02721022
Balance Sheet
as at 30 June 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 - 202
Current assets
Debtors 3 12,083 12,684
Cash at bank and in hand 330 1,419
12,413 14,103
Creditors: amounts falling due within one year 4 (5,594) (5,865)
Net current assets 6,819 8,238
Net assets 6,819 8,440
Capital and reserves
Called up share capital 2 2
Profit and loss account 6,817 8,438
Shareholders' funds 6,819 8,440
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M A Taylor
Director
Approved by the board on 13 February 2018
Account Recovery Limited
Notes to the Accounts
for the year ended 30 June 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, net of value added tax and discounts, of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, , at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2016 11,647
At 30 June 2017 11,647
Depreciation
At 1 July 2016 11,445
Charge for the year 202
At 30 June 2017 11,647
Net book value
At 30 June 2017 -
At 30 June 2016 202
3 Debtors 2017 2016
£ £
Trade debtors 102 918
Other debtors 11,981 11,766
12,083 12,684
4 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 540 720
Taxation and social security costs - 91
Other creditors 5,054 5,054
5,594 5,865
5 Other information
Account Recovery Limited is a private company limited by shares and incorporated in England. Its registered office is:
Marston House
5 Elmdon Lane
Birmingham
West Midlands
B37 7DL
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