WORKPAYS_LIMITED - Accounts

WORKPAYS LIMITED - Company Information

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Company Registration No. 07387325 (England and Wales)

WORKPAYS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

WORKPAYS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

WORKPAYS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

31,895

52,076

Current assets

Debtors

191,448

217,791

Cash at bank and in hand

190,340

82,476

381,788

300,267

Creditors: amounts falling due within one year

(183,986)

(139,016)

Net current assets

197,802

161,251

Total assets less current liabilities

229,697

213,327

Provisions for liabilities

(5,625)

(10,415)

224,072

202,912

Capital and reserves

Called up share capital

Profit and loss account

224,070

202,910

Shareholders' funds

224,072

202,912

For the financial year ended 31 October 2015 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 5 May 2016

Mrs Helen Richardson

Director

Company Registration No. 07387325

WORKPAYS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 2 -

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 receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

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

Land and buildings Leasehold

10% Straight Line

Fixtures, fittings & equipment

25% Reducing Balance/ 33% Straight Line

1.5

Revenue recognition

Sales 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 firm 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.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

WORKPAYS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 November 2014

89,352

Additions

4,895

At 31 October 2015

94,247

Depreciation

At 1 November 2014

37,276

Charge for the year

25,076

At 31 October 2015

62,352

Net book value

At 31 October 2015

31,895

At 31 October 2014

52,076

Share capital

2015

2014

Allotted, called up and fully paid

2 Ordinary of £1 each