ACCOUNTS - Final Accounts Preparation


06576159 ETP CARD PROCESSING LTD 2015-05-01 2016-04-30 false true 2016-04-30 06576159 2015-05-01 2016-04-30 06576159 2016-04-30 06576159 2015-04-30 06576159 c:MotorVehicles 2015-05-01 2016-04-30 06576159 d:OrdinaryShareClass1 2016-04-30 06576159 d:OrdinaryShareClass1 2015-04-30 06576159 d:OrdinaryShareClass1 2015-05-01 2016-04-30 06576159 d:Director1 2015-05-01 2016-04-30 06576159 c:ComputerEquipment 2015-05-01 2016-04-30 06576159 c:OfficeEquipment 2015-05-01 2016-04-30 06576159 c:OtherTangibleFixedAssets 2015-05-01 2016-04-30 06576159 c:NetGoodwill 2015-05-01 2016-04-30 xbrli:shares iso4217:GBP

Registered number: 06576159









ETP CARD PROCESSING LTD


UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

 
ETP CARD PROCESSING LTD
REGISTERED NUMBER: 06576159

ABBREVIATED BALANCE SHEET
AS AT 30 APRIL 2016

2016
2015
Note
£
£
£
£
 
FIXED ASSETS





 
Intangible assets
 
2
150,000

200,000
 
Tangible assets
 
3
73,769
64,225
 
Investments
 
4
10

10








223,779

264,235
 
CURRENT ASSETS





 
Stocks
1,000
6,085

 
Debtors
1,245,402
910,365

 
Cash at bank and in hand
335,912
186,775







 
1,582,314
1,103,225
 
CREDITORS: amounts falling due within one year
(1,591,579)
(1,353,029)
 
NET CURRENT LIABILITIES

(9,265)

(249,804)
 
TOTAL ASSETS LESS CURRENT LIABILITIES
214,514
14,431
 
CREDITORS: amounts falling due after more than one year
-

(165,143)

NET ASSETS/(LIABILITIES)



 214,514


 (150,712)
  
CAPITAL AND RESERVES

 
Called up share capital
5
52,999
52,999
 
Profit and loss account
161,515
(203,711)
 
SHAREHOLDERS' FUNDS/(DEFICIT)
 

 214,514

 (150,712)


The Directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Act. 

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the Company as at 30 April 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.


Page 1

 
ETP CARD PROCESSING LTD
 

ABBREVIATED BALANCE SHEET (continued)
AS AT 30 APRIL 2016

The abbreviated accounts, which 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, were approved and authorised for issue by the board and were signed on its behalf on 31 January 2017.





C Billing
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
ETP CARD PROCESSING LTD
 

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.3
Intangible fixed assets and amortisation

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and Loss Account over its estimated economic life.

1.4
Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation.  Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor vehicles
-
25% Reducing balance
Office equipment
-
33.3% Straight line
Display equipment
-
20% Straight line
Website
-
25% Straight line

1.5
Investments

Investments held as fixed assets are shown at cost less provision for impairment.

1.6
Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.7
Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.

Page 3

 
ETP CARD PROCESSING LTD
 

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016

1.ACCOUNTING POLICIES (continued)

1.8
Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Profit and Loss Account.


2.INTANGIBLE FIXED ASSETS



£


Cost



At 1 May 2015 and 30 April 2016

250,000

Amortisation


At 1 May 2015
50,000

Charge for the year
50,000


At 30 April 2016

100,000




Net book value


At 30 April 2016
 150,000


At 30 April 2015

 200,000


3.TANGIBLE FIXED ASSETS



£


Cost 


At 1 May 2015
218,441

Additions
43,238

Disposals
(3,235)


At 30 April 2016

258,444



Depreciation


At 1 May 2015
154,216

Charge for the year
31,520

On disposals
(1,061)


At 30 April 2016

184,675




Net book value


At 30 April 2016
 73,769


At 30 April 2015

 64,225

Page 4

 
ETP CARD PROCESSING LTD
 

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016

4.FIXED ASSET INVESTMENTS



£


Cost or valuation



At 1 May 2015 and 30 April 2016

10




Net book value


At 30 April 2016
 10


At 30 April 2015

 10


5.SHARE CAPITAL
        2016
        2015
        £

        £

Allotted, called up and fully paid



52,999 Ordinary shares of £1 shares of £1 each
 52,999
 52,999

Page 5