Registered number
12447226
MAI PAYROLL LTD
Filleted Accounts
28 February 2023
MAI PAYROLL LTD
Registered number: 12447226
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 5,076 14,665
Cash at bank and in hand 37,157 22,097
42,233 36,762
Creditors: amounts falling due within one year 4 (2,250) (4,261)
Net current assets 39,983 32,501
Net assets 39,983 32,501
Capital and reserves
Called up share capital 100 100
Profit and loss account 39,883 32,401
Shareholders' funds 39,983 32,501
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 members have 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.
Zubair Ibrahim
Director
Approved by the board on 10 April 2023
MAI PAYROLL LTD
Notes to the Accounts
for the year ended 28 February 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. Turnover includes revenue earned from the rendering of services.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors 4,796 4,665
Other debtors 280 10,000
5,076 14,665
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,755 2,968
Other creditors 495 1,293
2,250 4,261
5 Other information
MAI PAYROLL LTD is a private company limited by shares and incorporated in England. Its registered office is:
7 St Andrews Street
Blackburn
Lancashire
BB1 8AE
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