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Company Registration No. 08126178 (England and Wales)
PAYINC GROUP LIMITED Final accounts for the year ended 31 December 2022
PAYINC GROUP LIMITED Final accounts Contents
Page
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PAYINC GROUP LIMITED Company Information for the year ended 31 December 2022
Director
JONES AMEGBOR
Company Number
08126178 (England and Wales)
Registered Office
Regus House Victory Way Crossways Business Park Dartford Kent DA2 6QD United Kingdom
Accountants
DKA Accounting Ltd. East Wing, Castle House Dawson Road Milton Keynes Buckinghamshire MK1 1QT
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PAYINC GROUP LIMITED Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Intangible assets
4,938,134 
2,476,614 
Tangible assets
5,036 
4,175 
Investments
190,361 
190,361 
5,133,531 
2,671,150 
Current assets
Cash at bank and in hand
736,567 
417,767 
Creditors: amounts falling due within one year
(522,442)
(151,879)
Net current assets
214,125 
265,888 
Total assets less current liabilities
5,347,656 
2,937,038 
Creditors: amounts falling due after more than one year
(2,755,905)
(408,850)
Net assets
2,591,751 
2,528,188 
Capital and reserves
Called up share capital
1,950,109 
1,950,109 
Share premium
1,159,795 
1,159,795 
Profit and loss account
(518,153)
(581,716)
Shareholders' funds
2,591,751 
2,528,188 
For the year ending 31 December 2022 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 30 September 2023 and were signed on its behalf by
JONES AMEGBOR Director Company Registration No. 08126178
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PAYINC GROUP LIMITED Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
PAYINC GROUP LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08126178. The registered office is Regus House Victory Way, Crossways Business Park, Dartford, Kent, DA2 6QD, United Kingdom.
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
These financial statements for the year ended 31 December 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2021. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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.
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:
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2022
2,476,614 
Additions
2,461,520 
At 31 December 2022
4,938,134 
Amortisation
At 1 January 2022
- 
At 31 December 2022
- 
Net book value
At 31 December 2022
4,938,134 
At 31 December 2021
2,476,614 
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PAYINC GROUP LIMITED Notes to the Accounts for the year ended 31 December 2022
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2022
6,555 
238 
3,937 
10,730 
Additions
- 
794 
67 
861 
At 31 December 2022
6,555 
1,032 
4,004 
11,591 
Depreciation
At 1 January 2022
6,555 
- 
- 
6,555 
At 31 December 2022
6,555 
- 
- 
6,555 
Net book value
At 31 December 2022
- 
1,032 
4,004 
5,036 
At 31 December 2021
- 
238 
3,937 
4,175 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2022
190,361 
Valuation at 31 December 2022
190,361 
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
522,442 
151,879 
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
275,114 
241,879 
Other creditors
2,480,791 
166,971 
2,755,905 
408,850 
9
Average number of employees
During the year the average number of employees was 5 (2021: 5).
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