Company Registration No. 07345892 (England and Wales)
PAYMENTSWORLD LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
PAYMENTSWORLD LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
PAYMENTSWORLD LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Current assets
Debtors
87,956
99,878
Cash at bank and in hand
2,935
1,654
90,891
101,532
Creditors: amounts falling due within one year
(84,827)
(111,112)
Total assets less current liabilities
6,064
(9,580)
Capital and reserves
Called up share capital
2
2
2
Profit and loss account
6,062
(9,582)
Shareholders' funds
6,064
(9,580)
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 29 September 2015
A.C. Hausser
Director
Company Registration No. 07345892
PAYMENTSWORLD LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts derived on ordinary activities from the provision of services performed during the period. Revenue from the provision of services is recognised when there is a right to the sales consideration in respect of the services provided. Where a contract for the provision of services is in progress at the end of an accounting period, revenue is recognised according to the estimated unbilled sales value accruing up to the accounting date based on its stage of completion, that value being included in turnover in the profit and loss account and as accrued revenue in the balance sheet.
Revenue from the provision of services is recognised when there is a right to the sales consideration in respect of the services provided. Where a contract for the provision of services is in progress at the end of an accounting period, revenue is recognised according to the estimated unbilled sales value accruing up to the accounting date based on its stage of completion, that value being included in turnover in the profit and loss account and as accrued revenue in the balance sheet.
2
Share capital
2014
2013
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
