Company Registration No. 06880222 (England and Wales)
SALLY'S PAYROLL SERVICE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
SALLY'S PAYROLL SERVICE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SALLY'S PAYROLL SERVICE LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
582
5
Current assets
Debtors
1,948
992
Cash at bank and in hand
11,416
20,227
13,364
21,219
Creditors: amounts falling due within one year
(11,500)
(12,899)
Net current assets
1,864
8,320
Total assets less current liabilities
2,446
8,325
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
2,346
8,225
Shareholders' funds
2,446
8,325
For the financial year ended 31 May 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 19 December 2016
Mr J Rimmer
Director
Company Registration No. 06880222
SALLY'S PAYROLL SERVICE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 2 -
1
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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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:
Fixtures, fittings & equipment
33% straight line
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 June 2015
18,000
2,079
20,079
Additions
-
769
769
At 31 May 2016
18,000
2,848
20,848
Depreciation
At 1 June 2015
18,000
2,074
20,074
Charge for the year
-
192
192
At 31 May 2016
18,000
2,266
20,266
Net book value
At 31 May 2016
-
582
582
At 31 May 2015
-
5
5
SALLY'S PAYROLL SERVICE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
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