| Ethos Payroll Services Limited |
| Registered number: |
07420149 |
| Balance Sheet |
| as at 31 December 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
646,467 |
|
|
647,148 |
|
| Current assets |
| Debtors |
4 |
|
326,241 |
|
|
195,474 |
| Cash at bank and in hand |
|
|
3,064 |
|
|
101 |
|
|
|
329,305 |
|
|
195,575 |
|
| Creditors: amounts falling due within one year |
5 |
|
(636,655) |
|
|
(341,931) |
|
| Net current liabilities |
|
|
|
(307,350) |
|
|
(146,356) |
|
| Total assets less current liabilities |
|
|
|
339,117 |
|
|
500,792 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(134,124) |
|
|
(288,814) |
|
|
|
| Net assets |
|
|
|
204,993 |
|
|
211,978 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
204,992 |
|
|
211,977 |
|
| Shareholder's funds |
|
|
|
204,993 |
|
|
211,978 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges her 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. |
|
|
|
|
| Mrs Z Webster |
| Director |
| Approved by the board on 25 September 2019 |
|
| Ethos Payroll Services Limited |
| Notes to the Accounts |
| for the year ended 31 December 2018 |
|
|
| 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Equipment, fixtures & fittings |
25% reducing balance |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
|
|
| 2 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company |
15 |
|
17 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Leasehold buildings |
|
Equipment, fixtures & fittings |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 January 2018 |
616,100 |
|
77,869 |
|
693,969 |
|
Additions |
- |
|
9,441 |
|
9,441 |
|
At 31 December 2018 |
616,100 |
|
87,310 |
|
703,410 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2018 |
- |
|
46,821 |
|
46,821 |
|
Charge for the year |
- |
|
10,122 |
|
10,122 |
|
At 31 December 2018 |
- |
|
56,943 |
|
56,943 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2018 |
616,100 |
|
30,367 |
|
646,467 |
|
At 31 December 2017 |
616,100 |
|
31,048 |
|
647,148 |
|
|
| 4 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
298,824 |
|
89,393 |
|
Other debtors |
27,417 |
|
106,081 |
|
|
|
|
|
|
326,241 |
|
195,474 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans and overdrafts |
5,600 |
|
11 |
|
Trade creditors |
17,410 |
|
13,877 |
|
Taxation and social security costs |
162,144 |
|
69,851 |
|
Accruals |
451,500 |
|
1,686 |
|
Other creditors |
1 |
|
256,506 |
|
|
|
|
|
|
636,655 |
|
341,931 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans |
134,124 |
|
288,814 |
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2018 |
|
2017 |
| £ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
139,713 |
|
288,814 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
139,713 |
|
288,814 |
|
|
|
|
|
|
|
|
|
|
The loan is a mortgage secured on the leasehold buildings owned by the company |
|
|
| 8 |
Related party transactions |
|
|
The company paid the director, who is also the sole shareholder, a dividend of £46,000 (2017: £3,800) for the year ended 31 December 2018. |
|
|
| 9 |
Controlling party |
|
|
Mrs Z Webster is the ultimate controlling party by virtue of 100% interest in the issued ordinary shares. |
|
|
| 10 |
Other information |
|
|
Ethos Payroll Services Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
20 North Lane |
|
Canterbury |
|
Kent |
|
CT2 7PG |
