Registered number
04589902
DCS Payroll Agency (NE) Limited
Unaudited Filleted Accounts
31 March 2023
DCS Payroll Agency (NE) Limited
Registered number: 04589902
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 15,990 21,320
Tangible assets 4 50,674 123,931
66,664 145,251
Current assets
Debtors 5 154,765 127,562
Cash at bank and in hand 310,027 262,389
464,792 389,951
Creditors: amounts falling due within one year 6 (98,076) (89,497)
Net current assets 366,716 300,454
Total assets less current liabilities 433,380 445,705
Creditors: amounts falling due after more than one year 7 (26,667) (73,222)
Provisions for liabilities (9,592) (4,930)
Net assets 397,121 367,553
Capital and reserves
Called up share capital 2 2
Profit and loss account 397,119 367,551
Shareholder's funds 397,121 367,553
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
ER Liverani
Director
Approved by the board on 9 October 2023
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold land and buildings 2% straight line basis
Plant and Machinery 10% straight line basis
Fixtures, fittings, tools and equipment At rates between 20% reducing balance and
25% straight line basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 106,600
At 31 March 2023 106,600
Amortisation
At 1 April 2022 85,280
Provided during the year 5,330
At 31 March 2023 90,610
Net book value
At 31 March 2023 15,990
At 31 March 2022 21,320
Goodwill is being written off in equal annual instalments over its estimated economic life.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 109,305 150,726 260,031
Additions - 38,187 38,187
Disposals (109,305) (51,682) (160,987)
At 31 March 2023 - 137,231 137,231
Depreciation
At 1 April 2022 10,199 125,901 136,100
Charge for the year - 12,287 12,287
On disposals (10,199) (51,631) (61,830)
At 31 March 2023 - 86,557 86,557
Net book value
At 31 March 2023 - 50,674 50,674
At 31 March 2022 99,106 24,825 123,931
5 Debtors 2023 2022
£ £
Trade debtors 129,872 110,936
Other debtors 24,893 16,626
154,765 127,562
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 14,950
Trade creditors 12,914 3,316
Taxation and social security costs 21,024 27,526
Other creditors 54,138 43,705
98,076 89,497
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 26,667 73,222
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years - 15,063
Secured bank loans - 41,505
9 Other information
DCS Payroll Agency (NE) Limited is a private company limited by shares and incorporated in England. Its registered office is:
181 Hylton Road
Sunderland
Tyne & Wear
SR4 7YE
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