Pay Data Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03632206 (England and Wales)

PAY DATA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P A Hajduk

T G A Kellett

SECRETARY:

P A Hajduk

REGISTERED OFFICE:

24 Commerce Road

Lynch Wood

Peterborough

Cambridgeshire

PE2 6LR

REGISTERED NUMBER:

03632206 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Tangible assets

4

12,547

17,730

CURRENT ASSETS

Debtors

5

184,926

215,297

Cash at bank

305,173

269,790

490,099

485,087

CREDITORS

Amounts falling due within one year

6

318,580

288,238

NET CURRENT ASSETS

171,519

196,849

TOTAL ASSETS LESS CURRENT LIABILITIES

184,066

214,579

CREDITORS

Amounts falling due after more than one year

7

(24,319

)

-

PROVISIONS FOR LIABILITIES

(1,461

)

(1,818

)

NET ASSETS

158,286

212,761

CAPITAL AND RESERVES

Called up share capital

10

191

191

Capital redemption reserve

500

500

Own shares reserve

405

405

Retained earnings

157,190

211,665

SHAREHOLDERS' FUNDS

158,286

212,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 11 December 2018 and were signed on its behalf by:

P A Hajduk - Director

1.	STATUTORY INFORMATION

Pay Data Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Fee income represents revenue earned under a wide variety of contracts to provide professional services.

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in

exchange for its performance under these contracts. It is measured at the fair value of the right to

consideration, which represents amounts chargeable to clients, including expenses and disbursements but

excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the

partial performance of the contractual obligations. For such contracts the amount of revenue reflects the

accrual of the right to consideration by reference to the value of work performed. Revenue not billed to

clients is included in debtors and payments on account in excess of the relevant amount of revenue are

included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent

event occurs.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write

off the asset less estimated residual value of each asset over its useful life, as follows:

Fixtures, fittings and equipment - 33% straight line (after 5% as the salvage value)

Improvements to leasehold property - straight line over the term of the lease (5 years)

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable

are charged to the profit and loss account in the year they are payable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2017 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2017

84,368

Additions

8,442

At 31 August 2018

92,810

DEPRECIATION

At 1 September 2017

66,638

Charge for year

13,625

At 31 August 2018

80,263

NET BOOK VALUE

At 31 August 2018

12,547

At 31 August 2017

17,730

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

182,382

204,846

Other debtors

2,544

10,451

184,926

215,297

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

27,984

29,248

Taxation and social security

99,202

147,484

Other creditors

191,394

111,506

318,580

288,238

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

24,319

-

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

17,500

17,500

Between one and five years

17,500

35,000

35,000

52,500

9.	SECURED DEBTS

The assets and liabilities of the company are secured by a debenture to the bank dated 16 January 2002.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

190

Ordinary

50p

95

95

155

A Ordinary

50p

78

78

35

B Ordinary

50p

18

18

191

191

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have a directors loan accounts totalling £1,537 brought forward (2017: £1,811). During the year,

the directors of the company borrowed £2,696 (2017: £2,320) from the company and repaid £2,975 (2017:

£2,594). The balance at the end of the year totalled £1,259 overdrawn (2017: £1,537 overdrawn)."