Pay Data Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03632206 (England and Wales)

PAY DATA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

P A Hajduk

T G A Kellett

SECRETARY:

P A Hajduk

REGISTERED OFFICE:

24 Commerce Road

Lynch Wood

Peterborough

Cambridgeshire

PE2 6LR

REGISTERED NUMBER:

03632206 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Tangible assets

4

9,696

5,007

CURRENT ASSETS

Debtors

5

372,949

304,446

Cash at bank

511,768

654,482

884,717

958,928

CREDITORS

Amounts falling due within one year

6

584,071

679,142

NET CURRENT ASSETS

300,646

279,786

TOTAL ASSETS LESS CURRENT LIABILITIES

310,342

284,793

CREDITORS

Amounts falling due after more than one year

7

(19,062

)

(29,097

)

PROVISIONS FOR LIABILITIES

(2,181

)

(654

)

NET ASSETS

289,099

255,042

CAPITAL AND RESERVES

Called up share capital

10

190

190

Capital redemption reserve

500

500

Own shares reserve

405

405

Retained earnings

288,004

253,947

SHAREHOLDERS' FUNDS

289,099

255,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 26 March 2024 and were signed on its behalf by:

P A Hajduk - Director

1.	STATUTORY INFORMATION

Pay Data 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 (£).

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

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the company is recognised when the contingent event occurs.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the asset less estimated residual value of each asset over its useful life, as follows:

Fixtures, fittings and equipment - 33% straight line (after 5% as the salvage value)

Improvements to leasehold property - straight line over the term of the lease (5 years)

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 statement of financial position date.

Deferred tax

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

Hire purchase and leasing commitments

Rental paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the income statement in the year they are payable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2022

112,879

Additions

8,635

Disposals

(28,556

)

At 31 August 2023

92,958

DEPRECIATION

At 1 September 2022

107,872

Charge for year

3,826

Eliminated on disposal

(28,436

)

At 31 August 2023

83,262

NET BOOK VALUE

At 31 August 2023

9,696

At 31 August 2022

5,007

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Trade debtors

285,808

223,643

Other debtors

87,141

80,803

372,949

304,446

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Bank loans and overdrafts

10,035

9,788

Trade creditors

95,625

25,487

Amounts owed to group undertakings

102,105

228,421

Taxation and social security

193,526

180,905

Other creditors

182,780

234,541

584,071

679,142

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.23

31.8.22

£

£

Bank loans

19,062

29,097

8.	LEASING AGREEMENTS

Total financial commitments, guarantees and contingencies which are not included in the statement of financial position amount to £27,708 (2022: £45,208).

9.	SECURED DEBTS

The assets and liabilities of the company are secured by a debenture to the bank dated 16 January 2002.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.23

31.8.22

value:

£

£

190

Ordinary

50p

94

94

155

A Ordinary

50p

78

78

35

B Ordinary

50p

18

18

190

190