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OVERPAIDTAX LIMITED - Company Information

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OVERPAIDTAX LTD

Registered Number:06911701

For the year ended 31 May 2018

England and Wales

Unaudited Financial Statements

For the year ended 31 May 2018

OVERPAIDTAX LTD

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 31 May 2018

OVERPAIDTAX LTD

Statement of Financial Position

Registered Number :

06911701

2017

2018

Notes

Fixed assets

Property, plant and equipment

2,274

207

2,274

207

Current assets

Trade and other receivables

31,738

37,083

3,483

Cash and cash equivalents

690

37,773

35,221

Trade and other payables: amounts falling due within one

year

(8,666)

(20,116)

26,555

17,657

Net current assets

Total assets less current liabilities

19,931

26,762

19,931

Net assets

26,762

Capital and reserves

Retained earnings

19,931

26,762

19,931

26,762

Shareholders' funds

For the year ended 31 May 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006

The director acknowledges her responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of

each financial year and of its profit or loss for each financial year in accordance with the requirements of Section

394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial

statements, so far as applicable to the company.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MRS YANPING WU Director

These financial statements were approved and authorised for issue by the Board on 15 July 2018 and were signed by:

The notes form part of these financial statements

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For the year ended 31 May 2018

OVERPAIDTAX LTD

Notes to the Financial Statements

Statutory Information

OVERPAIDTAX LTD is a private limited company, limited by shares, domiciled in England and Wales, registration

number 06911701.

Registered address:

The Media Centre

7 Northumberland Street

Huddersfield

HD1 1RL

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

25 Straight line

Computer equipment

25 Straight line

Fixtures and fittings

The company''s freehold properties were professionally valued in 0. This valuation has been reduced by subsequent

depreciation. Under the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective

January 2015) the properties continue to be stated at that valuation less accumulated depreciation to date and that

valuation has not been updated.

The company''s freehold properties are revalued in full every five years. Interim valuations are carried out when it is

likely that there has been a material change in value.

Government grants

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

Hire purchase and leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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For the year ended 31 May 2018

OVERPAIDTAX LTD

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer

equipment

Fixtures and

fittings

Cost or

valuation

At 01 June 2017

2,854

2,547

307

3,100

Additions

At 31 May 2018

307

5,647

5,954

Provision for depreciation and impairment

At 01 June 2017

2,647

2,570

Charge for year

1,033

At 31 May 2018

3,680

3,603

At 31 May 2018

Net book value

230

2,044

2,274

At 31 May 2017

230

(23)

207

3. Trade and other receivables

2017

2018

Trade debtors

20,432

15,087

Other debtors

16,651

31,738

37,083

The debtors above include the following amounts falling due after more than one year:

Trade debtors

7,620

2,275

4. Trade and other payables: amounts falling due within one year

2017

2018

Trade creditors

841

Taxation and social security

13,637

2,187

Other creditors

5,638

20,116

8,666

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