Silverfin false 31/03/2023 01/04/2022 31/03/2023 M Ahmed 15/03/2021 A W Carey 02/03/2021 T Courtley 01/06/2021 M Grady 15/03/2021 T M Hamilton 02/03/2021 N P Kimber 15/03/2021 N L Paterno 02/03/2021 A J Warren 15/03/2021 21 November 2023 The principal activity of the Company during the financial period was that of payroll providers. 13239717 2023-03-31 13239717 bus:Director1 2023-03-31 13239717 bus:Director2 2023-03-31 13239717 bus:Director3 2023-03-31 13239717 bus:Director4 2023-03-31 13239717 bus:Director5 2023-03-31 13239717 bus:Director6 2023-03-31 13239717 bus:Director7 2023-03-31 13239717 bus:Director8 2023-03-31 13239717 core:CurrentFinancialInstruments 2023-03-31 13239717 core:CurrentFinancialInstruments 2022-03-31 13239717 2022-03-31 13239717 core:ShareCapital 2023-03-31 13239717 core:ShareCapital 2022-03-31 13239717 core:RetainedEarningsAccumulatedLosses 2023-03-31 13239717 core:RetainedEarningsAccumulatedLosses 2022-03-31 13239717 core:ImmediateParent core:CurrentFinancialInstruments 2023-03-31 13239717 core:ImmediateParent core:CurrentFinancialInstruments 2022-03-31 13239717 2022-04-01 2023-03-31 13239717 bus:FullAccounts 2022-04-01 2023-03-31 13239717 bus:SmallEntities 2022-04-01 2023-03-31 13239717 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13239717 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13239717 bus:Director1 2022-04-01 2023-03-31 13239717 bus:Director2 2022-04-01 2023-03-31 13239717 bus:Director3 2022-04-01 2023-03-31 13239717 bus:Director4 2022-04-01 2023-03-31 13239717 bus:Director5 2022-04-01 2023-03-31 13239717 bus:Director6 2022-04-01 2023-03-31 13239717 bus:Director7 2022-04-01 2023-03-31 13239717 bus:Director8 2022-04-01 2023-03-31 13239717 2021-03-02 2022-03-31 iso4217:GBP xbrli:pure

Company No: 13239717 (England and Wales)

MCBRIDES PAYROLL BUREAU SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

MCBRIDES PAYROLL BUREAU SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

MCBRIDES PAYROLL BUREAU SERVICES LIMITED

BALANCE SHEET

As at 31 March 2023
MCBRIDES PAYROLL BUREAU SERVICES LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
31.03.2023 31.03.2022
£ £
Current assets
Debtors 4 63,231 57,088
Cash at bank and in hand 46,617 36,507
109,848 93,595
Creditors: amounts falling due within one year 5 ( 33,885) ( 48,429)
Net current assets 75,963 45,166
Total assets less current liabilities 75,963 45,166
Net assets 75,963 45,166
Capital and reserves
Called-up share capital 100 100
Profit and loss account 75,863 45,066
Total shareholder's funds 75,963 45,166

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of McBrides Payroll Bureau Services Limited (registered number: 13239717) were approved and authorised for issue by the Director on 21 November 2023. They were signed on its behalf by:

N L Paterno
Director
MCBRIDES PAYROLL BUREAU SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
MCBRIDES PAYROLL BUREAU SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

McBrides Payroll Bureau Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nexus House, 2 Cray Road, Sidcup, DA14 5DA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The comparative reporting period covers 1 year and 29 days to cover the first period since incorporation on 2 March 2021.

Turnover

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

Other income is accounted for on a receivable basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the debtors are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Specifically judgements and estimates are required in determining the recoverability of debtors.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

Year ended
31.03.2023
Period from
02.03.2021 to
31.03.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 8

4. Debtors

31.03.2023 31.03.2022
£ £
Trade debtors 866 2,348
Other debtors 62,365 54,740
63,231 57,088

5. Creditors: amounts falling due within one year

31.03.2023 31.03.2022
£ £
Trade creditors 23,677 1,790
Amounts owed to Parent undertakings 0 24,399
Taxation and social security 10,207 11,688
Other creditors 1 10,552
33,885 48,429

6. Related party transactions

The company has taken advantage of the exemption in FRS102 1AC.35 "Related Party Disclosures" from disclosing transactions with other members of the group.