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Report of the Director and |
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Financial Statements for the Year Ended 31st January 2017 |
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Association Payment and |
Credit Clearing Services |
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REGISTERED NUMBER:
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Report of the Director and |
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Financial Statements for the Year Ended 31st January 2017 |
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for |
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Association Payment and |
Credit Clearing Services |
Association Payment and |
Credit Clearing Services (Registered number: 07116314) |
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Contents of the Financial Statements |
for the Year Ended 31st January 2017 |
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Company Information | 1 |
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Report of the Director | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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Association Payment and |
Credit Clearing Services |
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Company Information |
for the Year Ended 31st January 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Association House |
St David's Bridge |
Cranbrook |
Kent |
TN17 3HL |
Association Payment and |
Credit Clearing Services (Registered number: 07116314) |
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Report of the Director |
for the Year Ended 31st January 2017 |
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The directors present their report and accounts for the year ended 31/01/2014 |
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PRINCIPAL ACTIVITY |
The principle activity of the company in the year under review was to facilitate, promote and |
support credit clearing amongst Association Members. |
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DIRECTOR |
report. |
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POLITICAL DONATIONS AND EXPENDITURE |
During the year, the company made no donations exceeding £2000. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act |
2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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Association Payment and |
Credit Clearing Services (Registered number: 07116314) |
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Income Statement |
for the Year Ended 31st January 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
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TURNOVER |
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Distribution costs |
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Administrative expenses |
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9,705,907 | 2,644,111 |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
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Tax on profit |
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PROFIT FOR THE FINANCIAL YEAR |
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Association Payment and |
Credit Clearing Services (Registered number: 07116314) |
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Balance Sheet |
31st January 2017 |
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2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 3 |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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RESERVES | - | - |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and
387 of the Companies Act 2006 and |
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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. |
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The financial statements were approved by the director on
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Association Payment and |
Credit Clearing Services (Registered number: 07116314) |
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Notes to the Financial Statements |
for the Year Ended 31st January 2017 |
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1. | STATUTORY INFORMATION |
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Association Payment and Credit Clearing Services is a
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, registered in England and Wales. The company's registered number and |
registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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3. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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