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Unaudited Financial Statements for the Year Ended 31 October 2019 |
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Pastdue Credit Solutions Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 October 2019 |
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for |
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Pastdue Credit Solutions Limited |
Pastdue Credit Solutions Limited (Registered number: SC287794) |
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Contents of the Financial Statements |
for the Year Ended 31 October 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Pastdue Credit Solutions Limited |
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Company Information |
for the Year Ended 31 October 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
2 Stewart Street |
Milngavie |
Glasgow |
G62 6BW |
Pastdue Credit Solutions Limited (Registered number: SC287794) |
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Balance Sheet |
31 October 2019 |
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31.10.19 | 31.10.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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ACCRUALS AND DEFERRED INCOME | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Pastdue Credit Solutions Limited (Registered number: SC287794) |
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Balance Sheet - continued |
31 October 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Pastdue Credit Solutions Limited (Registered number: SC287794) |
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Notes to the Financial Statements |
for the Year Ended 31 October 2019 |
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1. | STATUTORY INFORMATION |
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Pastdue Credit Solutions Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The directors have reviewed the company's operating costs for the next twelve months, and the sources of funds |
available, and are satisfied that the company is a going concern. |
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Turnover |
Turnover represents invoiced sales of services, excluding value added tax. |
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Intangible assets |
Delphis and Amcat software licences are amortised on a straight line basis over an estimated useful economic life |
of 12 years from the date the systems to which the licences apply are first brought into use. |
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Website domains are amortised on a straight line basis over an estimated useful economic life of 5 years. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial |
instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured |
at their settlement value. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Pastdue Credit Solutions Limited (Registered number: SC287794) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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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. |
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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. |
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Government grants |
Government grants of a revenue nature are credited to the profit and loss account in the period of receipt unless |
any conditions have not been met. In this case, income is deferred until such time as conditions have been met. |
Capital grants, if material, are treated as deferred grants and released to the profit and loss account over the life |
of the related asset. |
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Cash at bank |
Cash at bank and in hand included cash and short term highly liquid investments with a short maturity of three |
months or less from the date of acquisition or opening of the account. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 November 2018 |
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Additions |
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At 31 October 2019 |
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AMORTISATION |
At 1 November 2018 |
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Charge for year |
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At 31 October 2019 |
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NET BOOK VALUE |
At 31 October 2019 |
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At 31 October 2018 |
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Pastdue Credit Solutions Limited (Registered number: SC287794) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 November 2018 |
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Additions |
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At 31 October 2019 |
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DEPRECIATION |
At 1 November 2018 |
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Charge for year |
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At 31 October 2019 |
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NET BOOK VALUE |
At 31 October 2019 |
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At 31 October 2018 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 November 2018 |
and 31 October 2019 |
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NET BOOK VALUE |
At 31 October 2019 |
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At 31 October 2018 |
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Fair value at 31 October 2019 is represented by: |
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£ |
Valuation in 2014 | 12,380 |
Valuation in 2018 | 10,000 |
Cost | 72,620 |
95,000 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.19 | 31.10.18 |
£ | £ |
Trade debtors |
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Amounts recoverable on contract |
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Other debtors |
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Pastdue Credit Solutions Limited (Registered number: SC287794) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.19 | 31.10.18 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.10.19 | 31.10.18 |
£ | £ |
Other creditors |
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10. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.10.19 | 31.10.18 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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