Company Registration No. 12630087 (England and Wales)
ISB Payroll Ltd
Unaudited accounts
for the year ended 31 May 2022
ISB Payroll Ltd
Unaudited accounts
Contents
ISB Payroll Ltd
Company Information
for the year ended 31 May 2022
Company Number
12630087 (England and Wales)
Registered Office
78 YORK STREET
LONDON
W1H 1DP
ENGLAND
Accountants
HRA Accounting Ltd
Cardiff House
Cardiff Road
Vale of Glamorgan
CF63 2AW
ISB Payroll Ltd
Statement of financial position
as at 31 May 2022
Cash at bank and in hand
(27,617)
6,477
Creditors: amounts falling due within one year
(227,628)
(387,152)
Net current (liabilities)/assets
(5,260)
7,969
Total assets less current liabilities
(4,411)
8,269
Provisions for liabilities
Net (liabilities)/assets
(4,620)
8,269
Called up share capital
1
1
Profit and loss account
(4,621)
8,268
Shareholders' funds
(4,620)
8,269
For the year ending 31 May 2022 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 August 2022 and were signed on its behalf by
Darren Burnell
Director
Company Registration No. 12630087
ISB Payroll Ltd
Notes to the Accounts
for the year ended 31 May 2022
ISB Payroll Ltd is a private company, limited by shares, registered in England and Wales, registration number 12630087. The registered office is 78 YORK STREET, LONDON, W1H 1DP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% on reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
ISB Payroll Ltd
Notes to the Accounts
for the year ended 31 May 2022
4
Tangible fixed assets
Computer equipment
5
Debtors: amounts falling due within one year
2022
2021
Trade debtors
200,087
330,550
Other debtors
3,506
58,094
Debtors: amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
41,787
109,315
Taxes and social security
874
21,613
Other creditors
18,602
113,451
During the year, the company made interest-free advances to a director amounting to £10,298 (2021: £18,572). These were repayable on demand.
The company received repayments of £3,293 (2021: £22,071).
8
Transactions with related parties
Under paragraph 1AC.35 of Section 1A Small Entities:
From 5 August 2020 to 15 January 2021, the company made a number of repayable advances amounting to £22,123 to a related third party entity. There is no interest payable and the loan is repayable on demand.
On 06 August 2020, the company made a a repayable advance amounting to £24,267 to a related third party entity. There is no interest payable and the loan is repayable on demand.
ISB Payroll Ltd
Notes to the Accounts
for the year ended 31 May 2022
9
Average number of employees
During the year the average number of employees was 27 (2021: 114).