1 June 2021 false No description of principal activity Taxfiler 2022.8.3 12630087business:PrivateLimitedCompanyLtd2021-06-012022-05-31 126300872021-05-31 126300872021-06-012022-05-31 12630087business:AuditExempt-NoAccountantsReport2021-06-012022-05-31 12630087business:FullAccounts2021-06-012022-05-31 126300872022-05-31 12630087business:Director12021-06-012022-05-31 12630087business:RegisteredOffice2021-06-012022-05-31 126300872021-05-31 12630087core:WithinOneYear2022-05-31 12630087core:WithinOneYear2021-05-31 12630087core:ShareCapital2022-05-31 12630087core:ShareCapital2021-05-31 12630087core:RetainedEarningsAccumulatedLosses2022-05-31 12630087core:RetainedEarningsAccumulatedLosses2021-05-31 12630087business:SmallEntities2021-06-012022-05-31 12630087countries:EnglandWales2021-06-012022-05-31 12630087core:ComputerEquipment2021-06-012022-05-31 12630087core:ComputerEquipment2021-05-31 12630087core:ComputerEquipment2022-05-31 12630087core:AfterOneYear2022-05-31 12630087core:AfterOneYear2021-05-31 126300872020-05-282021-05-31 iso4217:GBP xbrli:pure
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
Page
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ISB Payroll Ltd Company Information for the year ended 31 May 2022
Director
Darren Burnell
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
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ISB Payroll Ltd Statement of financial position as at 31 May 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
849 
300 
Current assets
Debtors
249,985 
388,644 
Cash at bank and in hand
(27,617)
6,477 
222,368 
395,121 
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
Deferred tax
(209)
- 
Net (liabilities)/assets
(4,620)
8,269 
Capital and reserves
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
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ISB Payroll Ltd Notes to the Accounts for the year ended 31 May 2022
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
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 taxation
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.
Pension costs
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.
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ISB Payroll Ltd Notes to the Accounts for the year ended 31 May 2022
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 June 2021
400 
Additions
833 
At 31 May 2022
1,233 
Depreciation
At 1 June 2021
100 
Charge for the year
284 
At 31 May 2022
384 
Net book value
At 31 May 2022
849 
At 31 May 2021
300 
5
Debtors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade debtors
200,087 
330,550 
Other debtors
3,506 
58,094 
203,593 
388,644 
Debtors: amounts falling due after more than one year
Other debtors
46,392 
- 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
VAT
165,108 
140,857 
Trade creditors
41,787 
109,315 
Taxes and social security
874 
21,613 
Other creditors
18,602 
113,451 
Accruals
1,257 
1,916 
227,628 
387,152 
7
Loans to directors
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.
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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).
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