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

REGISTERED NUMBER: 05618472 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2019 TO 29 NOVEMBER 2020

FOR

SMARTPAY LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P G Ruocco

REGISTERED OFFICE:

Blackpool Techology Management Centre

Faraday Way

Blackpool

Lancashire

FY2 0JW

REGISTERED NUMBER:

05618472 (England and Wales)

ACCOUNTANTS:

Moss & Williamson Limited

Chartered Accountants

Booth Street Chambers

Ashton-under-Lyne

Lancashire

OL6 7LQ

FIXED ASSETS

Tangible assets

4

-

2,703

CURRENT ASSETS

Debtors

1,519,792

1,990,942

Cash at bank and in hand

437,247

78,386

1,957,039

2,069,328

CREDITORS

Amounts falling due within one year

1,245,634

1,390,544

NET CURRENT ASSETS

711,405

678,784

TOTAL ASSETS LESS CURRENT LIABILITIES

711,405

681,487

PROVISIONS FOR LIABILITIES

-

96

NET ASSETS

711,405

681,391

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

711,404

681,390

SHAREHOLDERS' FUNDS

711,405

681,391

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 November 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 November 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 29 November 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2021 and were signed by:

P G Ruocco - Director

1.	STATUTORY INFORMATION

Smartpay Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered address can be found on the Company Information page.

The presentation currency of the financial statements is Sterling.

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.

Turnover

Turnover represents the value of services provided where the right to consideration has been obtained.

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

-

33% on cost

Taxation

Taxation for the period 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 period 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2019 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2019

and 29 November 2020

69,926

DEPRECIATION

At 1 December 2019

67,223

Charge for period

2,703

At 29 November 2020

69,926

NET BOOK VALUE

At 29 November 2020

-

At 30 November 2019

2,703

5.	CONTROLLING PARTY

The Company is controlled by P G Ruocco who owns 100% of the issued share capital of the business.