Nopalaver Payroll Solutions Limited 31/03/2020 iXBRL

Nopalaver Payroll Solutions Limited 31/03/2020 iXBRL

NOPALAVER PAYROLL SOLUTIONS LTD - Company Information

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Company registration number: 05708970
Nopalaver Payroll Solutions Limited
Unaudited filleted financial statements
31 March 2020
Nopalaver Payroll Solutions Limited
Contents
Directors and other information
Director's report
Accountant's report
Statement of financial position
Notes to the financial statements
Nopalaver Payroll Solutions Limited
Directors and other information
Director Graham Jenner
Secretary Jenner Company Secretaries Limited
Company number 05708970
Registered office 1 South House
Bond Avenue
Bletchley
Milton Keynes
MK1 1SW
Accountant Jenner Accountants Limited
1 South House
Bond Avenue
Milton Keynes
Buckinghamshire
MK1 1SW
Nopalaver Payroll Solutions Limited
Director's report
Period ended 31 March 2020
The director presents his report and the unaudited financial statements of the company for the period ended 31 March 2020.
Director
The director who served the company during the period was as follows:
Graham Jenner
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 31 March 2021 and signed on behalf of the board by:
Graham Jenner
Director
Nopalaver Payroll Solutions Limited
Chartered accountant's report to the director on the preparation of the
unaudited statutory financial statements of Nopalaver Payroll Solutions Limited
Period ended 31 March 2020
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Nopalaver Payroll Solutions Limited for the period ended 31 March 2020 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Nopalaver Payroll Solutions Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Nopalaver Payroll Solutions Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Nopalaver Payroll Solutions Limited and its director as a body for my work or for this report.
It is your duty to ensure that Nopalaver Payroll Solutions 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 Nopalaver Payroll Solutions Limited. You consider that Nopalaver Payroll Solutions Limited is exempt from the statutory audit requirement for the period.
I have not been instructed to carry out an audit or a review of the financial statements of Nopalaver Payroll Solutions Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Jenner Accountants Limited
Chartered Accountants
1 South House
Bond Avenue
Milton Keynes
Buckinghamshire
MK1 1SW
Date:
Nopalaver Payroll Solutions Limited
Statement of financial position
31 March 2020
31/03/20 31/12/18
Note £ £ £ £
Current assets
Debtors 5 132,292 -
Cash at bank and in hand 263,067 100
_______ _______
395,359 100
Creditors: amounts falling due
within one year 6 ( 381,883) -
_______ _______
Net current assets 13,476 100
_______ _______
Total assets less current liabilities 13,476 100
_______ _______
Net assets 13,476 100
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 13,376 -
_______ _______
Shareholders funds 13,476 100
_______ _______
For the period ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 March 2021 , and are signed on behalf of the board by:
Graham Jenner
Director
Company registration number: 05708970
Nopalaver Payroll Solutions Limited
Notes to the financial statements
Period ended 31 March 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 South House, Bond Avenue, Bletchley, Milton Keynes, MK1 1SW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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 in finance costs 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 period amounted to 83 (2018: Nil).
5. Debtors
31/03/20 31/12/18
£ £
Trade debtors 115,853 -
Other debtors 16,439 -
_______ _______
132,292 -
_______ _______
6. Creditors: amounts falling due within one year
31/03/20 31/12/18
£ £
Social security and other taxes 295,505 -
Other creditors 86,378 -
_______ _______
381,883 -
_______ _______