My Credit Controllers Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08699864 (England and Wales)

Financial Statements

for the Year Ended 31 December 2019

for

My Credit Controllers Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Ms S White

Dr M C Davies

Mr S A Elmes

SECRETARY:

Ms S White

REGISTERED OFFICE:

Greetwell Place

Limekiln Way

LINCOLN

Lincolnshire

LN2 4US

REGISTERED NUMBER:

08699864 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

20,447

14,517

20,447

14,517

CURRENT ASSETS

Debtors

28,153

18,245

Cash at bank and in hand

52,027

28,070

80,180

46,315

CREDITORS

Amounts falling due within one year

50,104

25,456

NET CURRENT ASSETS

30,076

20,859

TOTAL ASSETS LESS CURRENT LIABILITIES

50,523

35,376

PROVISIONS FOR LIABILITIES

3,885

2,758

NET ASSETS

46,638

32,618

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

46,338

32,318

SHAREHOLDERS' FUNDS

46,638

32,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2020 and were signed on its behalf by:

Ms S White - Director

1.	STATUTORY INFORMATION

My Credit Controllers Ltd 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 measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of one years.

Tangible fixed assets

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

Computer equipment

-

50% on cost and 33% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the statement of financial position 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.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and

financial liabilities are recognised in the accounts only when the entity becomes party to the

contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt

instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction

price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial

instruments, and are measured at amortised cost. Where a financial liability constitutes a

financing transaction it is initially and subsequently measures at the present value of future

payments, discounted at a market rate of interest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2019

and 31 December 2019

1,180

AMORTISATION

At 1 January 2019

and 31 December 2019

1,180

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2019

24,563

Additions

16,766

At 31 December 2019

41,329

DEPRECIATION

At 1 January 2019

10,046

Charge for year

10,836

At 31 December 2019

20,882

NET BOOK VALUE

At 31 December 2019

20,447

At 31 December 2018

14,517