Company Registration No. 07130045 (England and Wales)
Payroll Sorted Limited
Unaudited accounts
for the year ended 31 January 2023
Payroll Sorted Limited
Unaudited accounts
Contents
Payroll Sorted Limited
Company Information
for the year ended 31 January 2023
Company Number
07130045 (England and Wales)
Registered Office
Unit 34 Lubards Farm
Hullbridge Road
Rayleigh
Essex
SS6 9QG
Accountants
Platts
Churchill House, Suite 112
120 Bunns Lane
Mill Hill
London
NW7 2AS
Payroll Sorted Limited
Statement of financial position
as at 31 January 2023
Tangible assets
25,104
24,961
Cash at bank and in hand
112,733
118,918
Creditors: amounts falling due within one year
(90,828)
(73,317)
Net current assets
34,039
58,643
Total assets less current liabilities
59,143
83,604
Creditors: amounts falling due after more than one year
(36,574)
(41,674)
Called up share capital
1
1
Profit and loss account
22,568
41,929
Shareholders' funds
22,569
41,930
For the year ending 31 January 2023 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 9 October 2023 and were signed on its behalf by
Mr B Tyler
Director
Company Registration No. 07130045
Payroll Sorted Limited
Notes to the Accounts
for the year ended 31 January 2023
Payroll Sorted Limited is a private company, limited by shares, registered in England and Wales, registration number 07130045. The registered office is Unit 34 Lubards Farm, Hullbridge Road, Rayleigh, Essex, SS6 9QG.
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.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract 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.
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:
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 February 2022
2,300
62,931
65,231
At 31 January 2023
2,300
69,349
71,649
At 1 February 2022
1,546
38,724
40,270
Charge for the year
151
6,124
6,275
At 31 January 2023
1,697
44,848
46,545
At 31 January 2023
603
24,501
25,104
At 31 January 2022
754
24,207
24,961
Payroll Sorted Limited
Notes to the Accounts
for the year ended 31 January 2023
Amounts falling due within one year
Accrued income and prepayments
397
-
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,000
5,000
Taxes and social security
28,086
27,917
Other creditors
9,960
5,195
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 29 (2022: 17).