Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31172022-04-01falseOnline payment support services23truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08441319 2022-04-01 2023-03-31 08441319 2021-04-01 2022-03-31 08441319 2023-03-31 08441319 2022-03-31 08441319 c:Director1 2022-04-01 2023-03-31 08441319 d:FurnitureFittings 2022-04-01 2023-03-31 08441319 d:FurnitureFittings 2023-03-31 08441319 d:FurnitureFittings 2022-03-31 08441319 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08441319 d:OfficeEquipment 2022-04-01 2023-03-31 08441319 d:OfficeEquipment 2023-03-31 08441319 d:OfficeEquipment 2022-03-31 08441319 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08441319 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08441319 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 08441319 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 08441319 d:Goodwill 2023-03-31 08441319 d:Goodwill 2022-03-31 08441319 d:CurrentFinancialInstruments 2023-03-31 08441319 d:CurrentFinancialInstruments 2022-03-31 08441319 d:Non-currentFinancialInstruments 2023-03-31 08441319 d:Non-currentFinancialInstruments 2022-03-31 08441319 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08441319 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08441319 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08441319 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 08441319 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 08441319 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 08441319 d:ShareCapital 2023-03-31 08441319 d:ShareCapital 2022-03-31 08441319 d:SharePremium 2023-03-31 08441319 d:SharePremium 2022-03-31 08441319 d:RetainedEarningsAccumulatedLosses 2023-03-31 08441319 d:RetainedEarningsAccumulatedLosses 2022-03-31 08441319 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 08441319 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 08441319 c:FRS102 2022-04-01 2023-03-31 08441319 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08441319 c:AbridgedAccounts 2022-04-01 2023-03-31 08441319 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08441319 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2022-04-01 2023-03-31 08441319 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-04-01 2023-03-31 08441319 2 2022-04-01 2023-03-31 08441319 d:ExternallyAcquiredIntangibleAssets 2022-04-01 2023-03-31 08441319 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 08441319 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 08441319









PAY HERE LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023


 
PAY HERE LIMITED
REGISTERED NUMBER:08441319

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
204,560
214,245

Tangible assets
 5 
27,640
20,177

  
232,200
234,422

Current assets
  

Debtors
 6 
281,426
294,636

Cash at bank and in hand
 7 
192,902
413,145

  
474,328
707,781

Creditors: amounts falling due within one year
 8 
(335,752)
(550,114)

Net current assets
  
 
 
138,576
 
 
157,667

Total assets less current liabilities
  
370,776
392,089

Creditors: amounts falling due after more than one year
 9 
-
(31,250)

Net assets
  
370,776
360,839


Capital and reserves
  

Called up share capital 
  
152
152

Share premium account
  
616,437
616,437

Profit and loss account
  
(245,813)
(255,750)

  
370,776
360,839


Page 1


 
PAY HERE LIMITED
REGISTERED NUMBER:08441319
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 November 2023.




David John Evans
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2


 
PAY HERE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company is incorporated in England and Wales and is limited by shares.  The registered office is located at Yew Tree House, Lewes Road, Forest Row, East Sussex, RH18 5AA.  
The company's principal activity during the period was that of online payment support services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 3


 
PAY HERE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4


 
PAY HERE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5


 
PAY HERE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.


3.


Employees

The average monthly number of employees, including directors, during the year was 23 (2022 - 17).

Page 6


 
PAY HERE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Development expenditure
Goodwill
Total

£
£
£



Cost


At 1 April 2022
990,605
75,000
1,065,605


Additions
134,426
-
134,426



At 31 March 2023

1,125,031
75,000
1,200,031



Amortisation


At 1 April 2022
776,360
75,000
851,360


Charge for the year on owned assets
144,111
-
144,111



At 31 March 2023

920,471
75,000
995,471



Net book value



At 31 March 2023
204,560
-
204,560



At 31 March 2022
214,245
-
214,245



Page 7


 
PAY HERE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
1,700
37,267
38,967


Additions
-
16,676
16,676



At 31 March 2023

1,700
53,943
55,643



Depreciation


At 1 April 2022
1,161
17,629
18,790


Charge for the year on owned assets
135
9,078
9,213



At 31 March 2023

1,296
26,707
28,003



Net book value



At 31 March 2023
404
27,236
27,640



At 31 March 2022
539
19,638
20,177


6.


Debtors

2023
2022
£
£


Trade debtors
105,642
106,101

Other debtors
163,067
173,246

Prepayments and accrued income
12,717
15,289

281,426
294,636



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
192,902
413,145

192,902
413,145


Page 8


 
PAY HERE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
31,250
125,000

Trade creditors
96,835
42,833

Corporation tax
2,319
1,264

Other taxation and social security
157,091
261,011

Other creditors
19,296
29,997

Accruals and deferred income
28,961
90,009

335,752
550,114



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
31,250

-
31,250



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
31,250
125,000


31,250
125,000

Amounts falling due 1-2 years

Bank loans
-
31,250


-
31,250



31,250
156,250


Page 9


 
PAY HERE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
192,902
413,145




Financial assets measured at fair value through profit or loss comprise solely of cash.


12.


Pension commitments


13.


Transactions with directors

Included in other debtors due within one year is a loan to the director, Mr D Evans amounting to £54,393 [2022 - £51,267]. 
Interest has been charged at the H.M. Revenue and Customs official rate.


14.


Controlling party

The company was controlled throughout the current and previous period by its director, Mr D Evans, by virtue of the fact he owns the majority of the company’s ordinary issued share capital.

 
Page 10