ACTIVE_MERCHANT_SERVICES_ - Accounts

ACTIVE MERCHANT SERVICES LIMITED - Company Information

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Company Registration No. 07123394 (England and Wales)

ACTIVE MERCHANT SERVICES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

ACTIVE MERCHANT SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ACTIVE MERCHANT SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

5,000

Tangible assets

16,129

26,158

16,129

31,158

Current assets

Debtors

65,702

68,082

Cash at bank and in hand

170

65,741

68,252

Creditors: amounts falling due within one year

(306,270)

(304,723)

Net current liabilities

(240,529)

(236,471)

Total assets less current liabilities

(224,400)

(205,313)

Creditors: amounts falling due after more than one year

(397,122)

(237,132)

(621,522)

(442,445)

Capital and reserves

Called up share capital

Profit and loss account

(621,542)

(442,455)

Shareholders' deficiency

(621,522)

(442,445)

For the financial year ended 30 June 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 28 June 2016

M A J Sharples

Director

Company Registration No. 07123394

ACTIVE MERCHANT SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 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).

The directors consider it appropriate to prepare the financial statements on a going concern basis due to the continued financial support of connected entities.

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 the provision of payment solution services provided before the balance sheet date, 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:

Plant and machinery

25% per annum on a straight line basis

Computer equipment

33.3% per annum on a straight line basis

Fixtures, fittings and equipment

25% per annum on a straight line basis

ACTIVE MERCHANT SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 July 2014

5,000

50,263

55,263

Additions

294

Disposals

(5,000)

At 30 June 2015

50,557

Depreciation

At 1 July 2014

24,105

Charge for the year

10,323

At 30 June 2015

34,428

Net book value

At 30 June 2015

16,129

At 30 June 2014

5,000

26,158

31,158

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £18,733 (2014 - £72,452).

Share capital

2015

2014

Allotted, called up and fully paid

2,000 ordinary shares of 1p each

On the 30 October 2014 the company issued 987 ordinary shares of 1p each at par for cash consideration.

Ultimate parent company

The ultimate parent entity is Crosslane Investment Partners (CCS) LLP, a limited liability partnership registered in England and Wales which is exempt from the requirement to prepare consolidated financial statements.