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Registered Number: 05972151
England and Wales

 

 

 

PAYTRIX PAYMENTS LIMITED


(formerly Globalpayr Limited) Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 10 February 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 19    547 
Tangible fixed assets 4   1,076 
19    1,623 
Current assets      
Debtors 5 122,884    157,165 
Cash at bank and in hand (11,274)   92,087 
111,610    249,252 
Creditors: amount falling due within one year 6 (15,688)   (64,959)
Net current assets 95,922    184,293 
 
Total assets less current liabilities 95,941    185,916 
Creditors: amount falling due after more than one year 7 (44,380)   (46,884)
Provisions for liabilities 8   (143)
Net assets 51,561    138,889 
 

Capital and reserves
     
Called up share capital 9 22,483    22,483 
Share premium account 10 116,077    116,077 
Profit and loss account (86,999)   329 
Shareholder's funds 51,561    138,889 
 


For the period ended 10 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 September 2023 and were signed on its behalf by:


-------------------------------
Aran Brown
Director
-------------------------------
Edward Harrison
Director
1
General Information
Paytrix Payments Limited is a private company, limited by shares, registered in England and Wales, registration number 05972151, registration address 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of  trade discounts.
Revenue Recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that the future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 4 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33.3% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the period was 2 (2022 : 5).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 July 2022 50,892    50,892 
Additions  
Disposals  
At 10 February 2023 50,892    50,892 
Amortisation
At 01 July 2022 50,345    50,345 
Charge for period 528    528 
On disposals  
At 10 February 2023 50,873    50,873 
Net book values
At 10 February 2023 19    19 
At 30 June 2022 547    547 


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 July 2022 1,258    1,258 
Additions  
Disposals (1,258)   (1,258)
At 10 February 2023  
Depreciation
At 01 July 2022 182    182 
Charge for period  
On disposals (182)   (182)
At 10 February 2023  
Net book values
Closing balance as at 10 February 2023  
Opening balance as at 01 July 2022 1,076    1,076 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Accrued Income   39,619 
Other Debtors 100,623    27,926 
Corporation Tax 20,185   
Directors' Current Accounts 2,076    89,620 
122,884    157,165 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 3,698    2,866 
Corporation Tax   38,603 
PAYE & Social Security 11,990    13,490 
Other Creditors   10,000 
15,688    64,959 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 44,380    46,884 
44,380    46,884 

8.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions   143 
  143 

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
22,481 Class A shares of £1.00 each 22,481    22,481 
2 Class A shares of £1.00 each  
22,483    22,483 

10.

Share premium account

2023
£
  2022
£
Equity Share Premium b/fwd 116,077    116,077 
116,077    116,077 

11.

Director’s loan

Amounts owed by the director

At the balance sheet date the amount owed by the director to the company was £2,076 (2022 £89,620). Interest was charged at a rate of 2.5% on the balance.
2