FIDELITY_PAYMENT_PROCESSI - Accounts

FIDELITY PAYMENT PROCESSING LIMITED - Company Information

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Company Registration No. 08004359 (England and Wales)

FIDELITY PAYMENT PROCESSING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

FIDELITY PAYMENT PROCESSING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

FIDELITY PAYMENT PROCESSING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

115,193

36,111

Current assets

Debtors

29,576

30,425

Cash at bank and in hand

189,514

155,514

219,090

185,939

Creditors: amounts falling due within one year

(137,796)

(293,774)

Net current assets/(liabilities)

81,294

(107,835)

Total assets less current liabilities

196,487

(71,724)

Creditors: amounts falling due after more than one year

(187,284)

9,203

(71,724)

Capital and reserves

Called up share capital

100

Profit and loss account

9,103

(71,824)

Shareholders' funds

9,203

(71,724)

For the financial year ended 31 March 2016 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 1 September 2016

Mr B Cohen

Director

Company Registration No. 08004359

FIDELITY PAYMENT PROCESSING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 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 January 2015).

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:

Plant and machinery

25% Straight Line

Fixtures, fittings & equipment

25% Straight Line

1.5

Revenue recognition

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 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.

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 firm is recognised when the contingent event occurs.

FIDELITY PAYMENT PROCESSING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

48,148

Additions

121,492

At 31 March 2016

169,640

Depreciation

At 1 April 2015

12,037

Charge for the year

42,410

At 31 March 2016

54,447

Net book value

At 31 March 2016

115,193

At 31 March 2015

36,111

Share capital

2016

2015

Allotted, called up and fully paid

0 Ordinary shares of £1 each

100

50 Ordinary 'A' shares of £1 each

25 Ordinary 'B' shares of £1 each

25 Ordinary 'C' shares of £1 each

100