Littlepay Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09709888 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

LITTLEPAY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Shayan

D G Howell

S B Gallagher

REGISTERED OFFICE:

Ridge Court

The Ridge

Epsom

Surrey

KT18 7EP

REGISTERED NUMBER:

09709888 (England and Wales)

ACCOUNTANTS:

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Tangible assets

4

5,143

4,835

CURRENT ASSETS

Debtors

5

9,968

-

Prepayments and accrued income

194,161

63,947

Cash at bank and in hand

111,224

9,655

315,353

73,602

CREDITORS

Amounts falling due within one year

6

296,900

69,928

NET CURRENT ASSETS

18,453

3,674

TOTAL ASSETS LESS CURRENT LIABILITIES

23,596

8,509

CAPITAL AND RESERVES

Called up share capital

612,435

637,923

Retained earnings

(588,839

)

(629,414

)

23,596

8,509

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 28 April 2020 and were signed on its behalf by:

A Shayan - Director

1.	STATUTORY INFORMATION

Littlepay 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 (£).

Monetary amounts in these financial statements are rounded to the nearest whole £1.

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.

These financial statements for the year ended 30 June 2019 are the first financial statements that comply with

FRS 102 Section 1A having previously been prepared under FRS 105. The date of transition was 1 July 2017. The

directors have considered the impact of the transition to FRS 102 section 1A and considered the adjustments in

accounting policies. These have not resulted in any transitional adjustments to the retained profit shown for the

year ended 30 June 2018.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Computer equipment

-

25% on cost

Financial instruments

Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102

Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method. The

company has no advanced financial instruments.

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 balance sheet date.

Deferred tax

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

balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2018

289

6,028

6,317

Additions

378

1,683

2,061

At 30 June 2019

667

7,711

8,378

DEPRECIATION

At 1 July 2018

32

1,450

1,482

Charge for year

66

1,687

1,753

At 30 June 2019

98

3,137

3,235

NET BOOK VALUE

At 30 June 2019

569

4,574

5,143

At 30 June 2018

257

4,578

4,835

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

5,633

-

Other debtors

4,335

-

9,968

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

13,069

-

Amounts owed to group undertakings

259,881

-

Taxation and social security

18,600

29,765

Other creditors

5,350

40,163

296,900

69,928

7.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

At the balance sheet date the company owed £259,881 to Littlepay Pty Ltd Australia, a wholly owned subsidiary

of the parent company. The loan is unsecured and has no fixed terms of repayment. No interest is being charged

on this loan.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Perimeter Payments pte. Ltd.

9.	FIRST YEAR ADOPTION

These are the first financial statements that comply with FRS 102 Section 1A. The company transitioned to FRS

102 as at 1 July 2017. This has resulted in no transitional adjustments in the accounts for the year ended 30

June 2018.