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15,683
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6224671
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6224671
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6224671
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6224671
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2019-03-31
6224671
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2019-03-31
6224671
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6224671
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6224671
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6224671
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6224671
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2019-03-31
6224671
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6224671
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6224671
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6224671
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6224671
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2019-03-31
6224671
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6224671
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2018-03-31
6224671
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2018-03-31
6224671
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2019-03-31
COMPANY REGISTRATION NUMBER:
6224671
D G Collection Services Limited
|
|
Unaudited Financial Statements
|
|
D G Collection Services Limited
|
|
Year ended 31 March 2019
Statement of income and retained earnings
|
2
|
|
|
Statement of financial position
|
3
|
|
|
Notes to the financial statements
|
5
|
|
|
The following pages do not form part of the financial statements
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
|
10
|
|
|
D G Collection Services Limited
|
|
Year ended 31 March 2019
The directors present their report and the unaudited financial statements of the company for the year ended
31 March 2019
.
Principal activities
The principal activity of the company during the year was debt collection and asset recovery services.
Directors
The directors who served the company during the year were as follows:
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
1 December 2019
and signed on behalf of the board by:
Mr L Davis
|
Mr B Green
|
Director
|
Director
|
|
|
Registered office:
|
Regency House
|
Bonville Road
|
Brislington
|
Bristol
|
BS4 5QH
|
|
D G Collection Services Limited
|
|
Statement of Income and Retained Earnings
|
|
Year ended 31 March 2019
|
2019
|
2018
|
Note
|
£
|
£
|
Turnover
|
161,695
|
144,809
|
|
|
|
Cost of sales
|
1,708
|
1,900
|
|
---------
|
---------
|
Gross profit
|
159,987
|
142,909
|
|
|
|
Administrative expenses
|
113,757
|
122,490
|
|
---------
|
---------
|
Operating profit
|
46,230
|
20,419
|
|
|
|
Other interest receivable and similar income
|
6
|
7
|
Interest payable and similar expenses
|
1,665
|
1,235
|
|
|
---------
|
---------
|
Profit before taxation
|
5
|
44,571
|
19,191
|
|
|
|
|
Tax on profit
|
8,484
|
3,508
|
|
--------
|
--------
|
Profit for the financial year and total comprehensive income
|
36,087
|
15,683
|
|
--------
|
--------
|
|
|
|
Dividends paid and payable
|
(
31,580)
|
(
19,700)
|
|
|
|
Retained earnings at the start of the year
|
4
|
4,021
|
|
--------
|
--------
|
Retained earnings at the end of the year
|
4,511
|
4
|
|
--------
|
--------
|
|
|
|
All the activities of the company are from continuing operations.
D G Collection Services Limited
|
|
Statement of Financial Position
|
|
31 March 2019
Fixed assets
Tangible assets
|
6
|
|
18,292
|
24,389
|
|
|
|
|
|
Current assets
Debtors
|
7
|
10,241
|
|
20,172
|
Cash at bank and in hand
|
11,713
|
|
1,155
|
|
--------
|
|
--------
|
|
21,954
|
|
21,327
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
24,059
|
|
27,155
|
|
--------
|
|
--------
|
Net current liabilities
|
|
2,105
|
5,828
|
|
|
--------
|
--------
|
Total assets less current liabilities
|
|
16,187
|
18,561
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
9
|
|
8,198
|
13,920
|
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
3,475
|
4,634
|
|
|
--------
|
--------
|
Net assets
|
|
4,514
|
7
|
|
|
--------
|
--------
|
|
|
|
|
D G Collection Services Limited
|
|
Statement of Financial Position (continued)
|
|
31 March 2019
Capital and reserves
Called up share capital
|
|
3
|
3
|
Profit and loss account
|
|
4,511
|
4
|
|
|
-------
|
----
|
Shareholders funds
|
|
4,514
|
7
|
|
|
-------
|
----
|
|
|
|
|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
1 December 2019
, and are signed on behalf of the board by:
Mr L Davis
|
Mr B Green
|
Director
|
Director
|
|
|
Company registration number:
6224671
D G Collection Services Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 March 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Regency House, Bonville Road, Brislington, Bristol, BS4 5QH.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and Fittings
|
-
|
25% reducing balance
|
|
Motor Vehicles
|
-
|
25% reducing balance
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2018:
4
).
5.
Profit before taxation
Profit before taxation is stated after charging:
|
2019
|
2018
|
|
£
|
£
|
Depreciation of tangible assets
|
6,097
|
8,719
|
|
-------
|
-------
|
|
|
|
6.
Tangible assets
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 April 2018 and 31 March 2019
|
2,436
|
40,985
|
43,421
|
|
-------
|
--------
|
--------
|
Depreciation
|
|
|
|
At 1 April 2018
|
2,151
|
16,881
|
19,032
|
Charge for the year
|
71
|
6,026
|
6,097
|
|
-------
|
--------
|
--------
|
At 31 March 2019
|
2,222
|
22,907
|
25,129
|
|
-------
|
--------
|
--------
|
Carrying amount
|
|
|
|
At 31 March 2019
|
214
|
18,078
|
18,292
|
|
-------
|
--------
|
--------
|
At 31 March 2018
|
285
|
24,104
|
24,389
|
|
-------
|
--------
|
--------
|
|
|
|
|
7.
Debtors
|
2019
|
2018
|
|
£
|
£
|
Trade debtors
|
9,916
|
15,396
|
Other debtors
|
325
|
4,776
|
|
--------
|
--------
|
|
10,241
|
20,172
|
|
--------
|
--------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2019
|
2018
|
|
£
|
£
|
Trade creditors
|
1,351
|
7,959
|
Corporation tax
|
9,650
|
1,700
|
Social security and other taxes
|
4,334
|
4,480
|
Other creditors
|
8,724
|
13,016
|
|
--------
|
--------
|
|
24,059
|
27,155
|
|
--------
|
--------
|
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2019
|
2018
|
|
£
|
£
|
Other creditors
|
8,198
|
13,920
|
|
-------
|
--------
|
|
|
|
10.
Directors' advances, credits and guarantees
At the year end the company owed the directors £833 (2018 The directors owed the company: £3,431). There are no repayment terms associated with this loan and no interest is charged on the outstanding amount.
D G Collection Services Limited
|
|
Year ended 31 March 2019
The following pages do not form part of the financial statements.
D G Collection Services Limited
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
D G Collection Services Limited
|
|
Year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of D G Collection Services Limited for the year ended 31 March 2019, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company'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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of D G Collection Services Limited, as a body, in accordance with the terms of our engagement letter dated 4 August 2008. Our work has been undertaken solely to prepare for your approval the financial statements of D G Collection Services Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D G Collection Services Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that D G Collection Services 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 D G Collection Services Limited. You consider that D G Collection Services 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 D G Collection Services 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.
STONE & CO
Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA
1 December 2019