Penguin Pay Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09781637 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

PENGUIN PAY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I E T St. John

REGISTERED OFFICE:

30 Crown Place

Liverpool Street

London

EC2A 4EB

REGISTERED NUMBER:

09781637 (England and Wales)

ACCOUNTANTS:

Jones Howard Limited

FIXED ASSETS

Tangible assets

4

19,037

-

CURRENT ASSETS

Debtors

5

768,613

145,130

Cash at bank

143,386

599

911,999

145,729

CREDITORS

Amounts falling due within one year

6

844,558

143,534

NET CURRENT ASSETS

67,441

2,195

TOTAL ASSETS LESS CURRENT LIABILITIES

86,478

2,195

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

7

85,478

1,195

SHAREHOLDERS' FUNDS

86,478

2,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 28 September 2018 and were signed by:

I E T St. John - Director

1.	STATUTORY INFORMATION

Penguin Pay Limited is a private company, limited by shares , registered in England and Wales.

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 etc

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 327 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

28,556

At 31 December 2017

28,556

DEPRECIATION

Charge for year

9,519

At 31 December 2017

9,519

NET BOOK VALUE

At 31 December 2017

19,037

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

31,645

39,727

Amounts owed by group undertakings

328,991

-

Other debtors

150,598

-

Directors' current accounts

198,062

105,403

Prepayments and accrued income

59,317

-

768,613

145,130

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

18,338

8,860

Tax

98,547

28,588

Social security and other taxes

109,306

22,850

VAT

600,272

69,020

Other creditors

18,095

14,216

844,558

143,534

7.

RESERVES

Retained

earnings

£

At 1 January 2017

1,195

Profit for the year

425,983

Dividends

(341,700

)

At 31 December 2017

85,478

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended

31 December 2017 and the period ended 31 December 2016:

2017

2016

£

£

I E T St. John

Balance outstanding at start of year

105,403

-

Amounts advanced

198,062

105,403

Amounts repaid

(105,403

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

198,062

105,403

The directors loan account was repaid in full on 28 September 2018.

9.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.