Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30truefalse2023-04-01Payroll77truefalse 08896393 2023-04-01 2023-11-30 08896393 2022-04-01 2023-03-31 08896393 2023-11-30 08896393 2023-03-31 08896393 c:Director2 2023-04-01 2023-11-30 08896393 d:CurrentFinancialInstruments 2023-11-30 08896393 d:CurrentFinancialInstruments 2023-03-31 08896393 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 08896393 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08896393 d:ShareCapital 2023-11-30 08896393 d:ShareCapital 2023-03-31 08896393 d:RetainedEarningsAccumulatedLosses 2023-11-30 08896393 d:RetainedEarningsAccumulatedLosses 2023-03-31 08896393 c:FRS102 2023-04-01 2023-11-30 08896393 c:Audited 2023-04-01 2023-11-30 08896393 c:FullAccounts 2023-04-01 2023-11-30 08896393 c:PrivateLimitedCompanyLtd 2023-04-01 2023-11-30 08896393 c:SmallCompaniesRegimeForAccounts 2023-04-01 2023-11-30 08896393 2 2023-04-01 2023-11-30 08896393 e:PoundSterling 2023-04-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 08896393










PAYASSIST LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 NOVEMBER 2023

 
PAYASSIST LIMITED
REGISTERED NUMBER: 08896393

BALANCE SHEET
AS AT 30 NOVEMBER 2023

30 November
31 March
2023
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
95,992
662,131

Cash at bank and in hand
 5 
654,122
61,689

  
750,114
723,820

Creditors: amounts falling due within one year
 6 
(86,178)
(125,652)

Net current assets
  
 
 
663,936
 
 
598,168

Total assets less current liabilities
  
663,936
598,168

  

Net assets
  
663,936
598,168


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
663,836
598,068

  
663,936
598,168


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D  Pumfrey
Director

Date: 27 August 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
PAYASSIST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

1.


General information

PayAssist Limited is a private company, limited by share capital, incorporated in England and Wales, registration number 08896393. The address of the registered office is 52 New Town, Uckfield, East Sussex, United Kingdom, TN22 5DE.
The company has amended its financial reporting date to align with the change in ownership on 6 December 2023. The comparative figures relate to the year ended 31 March 2023. Therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable
The principal activity of the company is the provision of payroll services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised in respect of services supplied, exclusive of Value Added Tax and trade discounts. Where the company has incomplete contracts at the year end, income and expenditure for these contracts are recognised so that it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the value of the work performed. Revenue not billed to clients is included in debtors and payments in excess of the relevant amount of revenue are included in creditors.

 
2.3

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.5

Creditors

Short term creditors are measured at the transaction price.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable.

Page 2

 
PAYASSIST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

  
2.10

Client accounts

he company holds client monies in general and designated bank accounts. The monies held in these bank accounts and the balances due to clients are netted off and excluded from these financial statements. The total amounts of client monies held by the company as at 30 November 2023 was £946,558 (31 March 2023 - £791,807).


3.


Employees



The average monthly number of employees, including directors, during the period was 7 (2023 - 7).

Page 3

 
PAYASSIST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

4.


Debtors

30 November
31 March
2023
2023
£
£


Trade debtors
22,192
76,329

Amounts owed by group undertakings
-
525,000

Other debtors
69,698
53,861

Prepayments and accrued income
4,102
6,941

95,992
662,131



5.


Cash and cash equivalents

30 November
31 March
2023
2023
£
£

Cash at bank and in hand
654,122
61,689



6.


Creditors: Amounts falling due within one year

30 November
31 March
2023
2023
£
£

Trade creditors
4,404
3,987

Amounts owed to group undertakings
5,867
63,106

Corporation tax
46,988
25,065

Other taxation and social security
26,111
32,169

Accruals and deferred income
2,808
1,325

86,178
125,652



7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,971 (31 March 2023 - £5,075) and the amount outstanding at the year end included in creditors is £768 (31 March 2023 - £709) .

Page 4

 
PAYASSIST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

8.


Ultimate parent undertaking and controlling party

The smallest group to prepare consolidated financial statements is that headed by Simmons Gainsford LLP whose registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

9.


Auditors' information

The auditors' report on the financial statements for the period ended 30 November 2023 was unqualified.

The audit report was signed on 27 August 2024 by Samantha Whiting (Senior statutory auditor) on behalf of GMP Audit Limited.

 
Page 5