PAYCOLL PAYROLL LTD - Period Ending 2016-03-31

Registration number: 06498679

PAYCOLL PAYROLL LTD

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

PAYCOLL PAYROLL LTD
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

PAYCOLL PAYROLL LTD
(Registration number: 06498679)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					904			453
Current assets
Debtors					14,629			11,563
Cash at bank and in hand					63,296			53,528
					77,925			65,091
Creditors: Amounts falling due within one year					(39,933)			(42,925)
Net current assets					37,992			22,166
Net assets					38,896			22,619
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					38,796			22,519
Shareholders' funds					38,896			22,619

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 31 August 2016 and signed on its behalf by:

.........................................
Mr Colin Henry Lowery
Director

.........................................
Mr Stephen Alan Lowery
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

PAYCOLL PAYROLL LTD
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value,
over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	in equal instalments over 5 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated
residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equiipment	25% reducing balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

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PAYCOLL PAYROLL LTD
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		14,200			6,190			20,390
Additions		-			752			752
At 31 March 2016		14,200			6,942			21,142
Depreciation
At 1 April 2015		14,200			5,737			19,937
Charge for the year		-			301			301
At 31 March 2016		14,200			6,038			20,238
Net book value
At 31 March 2016		-			904			904
At 31 March 2015		-			453			453

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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