REGISTERED NUMBER: 01312812

Unaudited Financial Statements for the Year Ended 31 May 2018

for

ABCO Payroll Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

R Wilkinson

A C Fleet

SECRETARY:

S Wilkinson

REGISTERED OFFICE:

12 Millcroft

Bishop's Stortford

Hertfordshire

CM23 2BP

REGISTERED NUMBER:

01312812

ACCOUNTANTS:

JTF

Chartered Certified Accountants

Electra House

1A Gilberd Road

Colchester

Essex

CO2 7LR

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of ABCO Payroll Limited for the year ended 31 May 2018 which comprise the Income Statement,

Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of ABCO Payroll Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of ABCO Payroll Limited and state those matters that we have agreed to state to the Board of Directors of ABCO Payroll Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that ABCO Payroll Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ABCO Payroll Limited. You consider that ABCO Payroll Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of ABCO Payroll Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

JTF

Chartered Certified Accountants

Electra House

1A Gilberd Road

Colchester

Essex

CO2 7LR

15 October 2018

FIXED ASSETS

Tangible assets

4

2,694

2,998

CURRENT ASSETS

Debtors

5

42,252

45,981

Cash at bank and in hand

29,056

8,223

71,308

54,204

CREDITORS

Amounts falling due within one year

6

23,105

29,344

NET CURRENT ASSETS

48,203

24,860

TOTAL ASSETS LESS CURRENT LIABILITIES

50,897

27,858

PROVISIONS FOR LIABILITIES

536

600

NET ASSETS

50,361

27,258

CAPITAL AND RESERVES

Called up share capital

8

101

101

Retained earnings

50,260

27,157

SHAREHOLDERS' FUNDS

50,361

27,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 October 2018 and were signed on its behalf by:

R Wilkinson - Director

1.	STATUTORY INFORMATION

ABCO Payroll Limited is a private company, limited by shares , registered in Not specified/Other. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% - 40% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 June 2017

16,347

10,158

26,505

Additions

1,089

125

1,214

Disposals

(5,797

)

(7,463

)

(13,260

)

At 31 May 2018

11,639

2,820

14,459

DEPRECIATION

At 1 June 2017

13,994

9,513

23,507

Charge for year

1,267

93

1,360

Eliminated on disposal

(5,772

)

(7,330

)

(13,102

)

At 31 May 2018

9,489

2,276

11,765

NET BOOK VALUE

At 31 May 2018

2,150

544

2,694

At 31 May 2017

2,353

645

2,998

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade debtors

26,180

30,126

Other debtors

16,072

15,855

42,252

45,981

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Bank loans and overdrafts

-

12,745

Trade creditors

1,580

282

Taxation and social security

19,416

14,222

Other creditors

2,109

2,095

23,105

29,344

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.5.18

31.5.17

£

£

Within one year

1,261

1,261

Between one and five years

468

1,404

1,729

2,665

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.18

31.5.17

value:

£

£

100

Ordinary A

1

100

100

1

Ordinary B shares

£1

1

1

101

101

The Ordinary A shares have full rights with regard to voting, dividends and participation in a distribution

including in the event of a winding up.

The ordinary B shares have no rights with regard to voting and participation in a distribution including in the

event of a winding up.

Dividends may be paid to one class of share to the exclusion of any other class of share currently in issue. In the

event of a dividend being declared across all classes of shares, the company may, by ordinary resolution,

differentiate between the classes of share as to the amount or percentage of dividend payable to each class of

share.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £11,650 (2017 - £9,815) were paid to the directors .