1 February 2023 false Taxfiler 2024.5 07130045business:PrivateLimitedCompanyLtd2023-02-012024-01-31 071300452023-01-31 071300452023-02-012024-01-31 07130045business:AuditExemptWithAccountantsReport2023-02-012024-01-31 07130045business:FilletedAccounts2023-02-012024-01-31 071300452024-01-31 07130045business:Director12023-02-012024-01-31 07130045business:RegisteredOffice2023-02-012024-01-31 071300452023-01-31 07130045core:WithinOneYear2024-01-31 07130045core:WithinOneYear2023-01-31 07130045core:AfterOneYear2024-01-31 07130045core:AfterOneYear2023-01-31 07130045core:ShareCapitalcore:PreviouslyStatedAmount2024-01-31 07130045core:ShareCapitalcore:PreviouslyStatedAmount2023-01-31 07130045core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-01-31 07130045core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-01-31 07130045core:PreviouslyStatedAmount2024-01-31 07130045core:PreviouslyStatedAmount2023-01-31 07130045business:SmallEntities2023-02-012024-01-31 07130045countries:EnglandWales2023-02-012024-01-31 07130045core:MotorVehicles2023-01-31 07130045core:FurnitureFittings2023-01-31 07130045core:MotorVehicles2023-02-012024-01-31 07130045core:FurnitureFittings2023-02-012024-01-31 07130045core:MotorVehicles2024-01-31 07130045core:FurnitureFittings2024-01-31 071300452022-02-012023-01-31 iso4217:GBP xbrli:pure
Company Registration No. 07130045 (England and Wales)
Payroll Sorted Limited Unaudited accounts for the year ended 31 January 2024
Payroll Sorted Limited Unaudited accounts Contents
Page
- 2 -
Payroll Sorted Limited Company Information for the year ended 31 January 2024
Director
Mr B Tyler
Company Number
07130045 (England and Wales)
Registered Office
Unit 34 Lubards Farm Hullbridge Road Rayleigh Essex SS6 9QG
Accountants
Platts Unit 5 Swaker Yard 2B Theobald Street Herts WD6 4SE
- 3 -
Payroll Sorted Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
34,521 
25,104 
Current assets
Debtors
12,099 
12,134 
Cash at bank and in hand
108,662 
112,733 
120,761 
124,867 
Creditors: amounts falling due within one year
(110,341)
(90,828)
Net current assets
10,420 
34,039 
Total assets less current liabilities
44,941 
59,143 
Creditors: amounts falling due after more than one year
(44,205)
(36,574)
Net assets
736 
22,569 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
735 
22,568 
Shareholders' funds
736 
22,569 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 September 2024 and were signed on its behalf by
Mr B Tyler Director Company Registration No. 07130045
- 4 -
Payroll Sorted Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Payroll Sorted Limited is a private company, limited by shares, registered in England and Wales, registration number 07130045. The registered office is Unit 34 Lubards Farm, Hullbridge Road, Rayleigh, Essex, SS6 9QG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 5 -
Payroll Sorted Limited Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
2,300 
69,349 
71,649 
Additions
15,836 
2,210 
18,046 
At 31 January 2024
18,136 
71,559 
89,695 
Depreciation
At 1 February 2023
1,697 
44,848 
46,545 
Charge for the year
3,288 
5,341 
8,629 
At 31 January 2024
4,985 
50,189 
55,174 
Net book value
At 31 January 2024
13,151 
21,370 
34,521 
At 31 January 2023
603 
24,501 
25,104 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,890 
6,987 
Accrued income and prepayments
- 
397 
Other debtors
8,209 
4,750 
12,099 
12,134 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,000 
5,000 
VAT
54,121 
47,382 
Obligations under finance leases and hire purchase contracts
4,595 
- 
Trade creditors
6,333 
400 
Taxes and social security
31,190 
28,086 
Other creditors
9,102 
9,960 
110,341 
90,828 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
31,342 
36,574 
Obligations under finance leases and hire purchase contracts
12,863 
- 
44,205 
36,574 
8
Average number of employees
During the year the average number of employees was 32 (2023: 29).
- 6 -