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Registration number: 05415568

Neil Wilson Payroll & Book-Keeping Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Neil Wilson Payroll & Book-Keeping Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Neil Wilson Payroll & Book-Keeping Services Limited

Company Information

Director

Dr Jane Wilson

Company secretary

Mr Neil Wilson

Registered office

42a Walnut Road
Chelston
Torquay
Devon
TQ2 6HS

Accountants

Neil Wilson Accountancy Limited
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Neil Wilson Payroll & Book-Keeping Services Limited

(Registration number: 05415568)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

33

45

Current assets

 

Stocks

5

120

120

Debtors

6

41,574

56,382

Cash at bank and in hand

 

16,092

16,660

 

57,786

73,162

Creditors: Amounts falling due within one year

7

(37,826)

(41,870)

Net current assets

 

19,960

31,292

Total assets less current liabilities

 

19,993

31,337

Provisions for liabilities

-

(20,000)

Net assets

 

19,993

11,337

Capital and reserves

 

Called up share capital

8

5

5

Retained earnings

19,988

11,332

Shareholders' funds

 

19,993

11,337

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 September 2024
 

.........................................
Dr Jane Wilson
Director

 

Neil Wilson Payroll & Book-Keeping Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
42a Walnut Road
Chelston
Torquay
Devon
TQ2 6HS

These financial statements were authorised for issue by the director on 13 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Neil Wilson Payroll & Book-Keeping Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

Neil Wilson Payroll & Book-Keeping Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 6).

 

Neil Wilson Payroll & Book-Keeping Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

1,115

1,115

At 30 September 2023

1,115

1,115

Depreciation

At 1 October 2022

1,070

1,070

Charge for the year

12

12

At 30 September 2023

1,082

1,082

Carrying amount

At 30 September 2023

33

33

At 30 September 2022

45

45

5

Stocks

2023
£

2022
£

Work in progress

120

120

6

Debtors

Current

2023
£

2022
£

Trade debtors

17,022

8,730

Other debtors

24,552

47,652

 

41,574

56,382

7

Creditors

Creditors: amounts falling due within one year

 

Neil Wilson Payroll & Book-Keeping Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

2023
£

2022
£

Due within one year

Trade creditors

905

905

Taxation and social security

(5,595)

690

Accruals and deferred income

-

1,857

Other creditors

42,516

38,418

37,826

41,870

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Odinary of £1 each

5

5

5

5

         

9

Dividends

   

2023

 

2022

   

£

 

£

Final dividend of £1.00 (2022 - £Nil) per ordinary share

 

-

 

-

Interim dividend of £3.00 (2022 - £Nil) per ordinary share

 

-

 

-

   

-

 

-

         

10

Related party transactions

Transactions with the director

2023

At 1 October 2022
£

Repayments by director
£

At 30 September 2023
£

Dr Jane Wilson

Loan to from director

(19,435)

(11,179)

(30,614)

       
     

 

2022

At 1 October 2021
£

Repayments by director
£

At 30 September 2022
£

Dr Jane Wilson

Loan to from director

(18,537)

(898)

(19,435)

       
     

 

Neil Wilson Payroll & Book-Keeping Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

 

Dividends paid to the director

   

2023
£

 

2022
£

Dr Jane Wilson

       

Interim Dividend

 

-

 

-