Registered number
10863591
CHECKFER LTD
Unaudited Filleted Accounts
31 December 2023
CHECKFER LTD
Company Information
Directors
Mr R Carter
Mr R Batsford
Mr S Mook (Resigned on 16 June 2023)
Accountants
Key Business Consultants LLP
13 Whitchurch Lane
Edgware
HA8 6JZ
Bankers
Barclays Bank UK PLC
Registered office
20-22 Wenlock Road
London
N1 7GU
Registered number
10863591
CHECKFER LTD
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of CHECKFER LTD for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CHECKFER LTD for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Key Business Consultants LLP
Chartered Accountants
13 Whitchurch Lane
Edgware
HA8 6JZ
8 February 2024
CHECKFER LTD
Registered number: 10863591
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 23,054 34,115
Tangible assets 4 60,818 75,371
Investments 5 150,001 150,001
233,873 259,487
Current assets
Stocks 10,210 20,420
Debtors 6 333,523 29,250
Cash at bank and in hand 205,818 928,783
549,551 978,453
Creditors: amounts falling due within one year 7 (2,006,305) (1,952,008)
Net current liabilities (1,456,754) (973,555)
Total assets less current liabilities (1,222,881) (714,068)
Creditors: amounts falling due after more than one year 8 (33,728) (35,092)
Net liabilities (1,256,609) (749,160)
Capital and reserves
Called up share capital 3,005,008 3,005,009
Share premium 7,500,985 7,428,023
Profit and loss account (11,762,602) (11,182,192)
Shareholders' funds (1,256,609) (749,160)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Carter
Director
Approved by the board on 8 February 2024
CHECKFER LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).These accounts have been prepared under the going concern basis due to the shareholders' continued financial support.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office and computer equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
1 Accounting policies (cont.)
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 41
3 Intangible fixed assets £
Trademarks:
Cost
At 1 January 2023 55,418
At 31 December 2023 55,418
Amortisation
At 1 January 2023 21,303
Provided during the year 11,061
At 31 December 2023 32,364
Net book value
At 31 December 2023 23,054
At 31 December 2022 34,115
Trademarks are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 120,210
Additions 8,578
Disposals (7,885)
At 31 December 2023 120,903
Depreciation
At 1 January 2023 44,839
Charge for the year 19,151
On disposals (3,905)
At 31 December 2023 60,085
Net book value
At 31 December 2023 60,818
At 31 December 2022 75,371
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 150,001
At 31 December 2023 150,001
6 Debtors 2023 2022
£ £
Trade debtors 175,968 3,693
Other debtors 157,555 25,557
333,523 29,250
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3 8,773
Trade creditors 4,857 13,255
Taxation and social security costs 561,320 521,374
Other creditors 1,440,125 1,408,606
2,006,305 1,952,008
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 33,728 35,092
9 Related party transactions
At the year end, the company owed the directors Mr R Batsford £199,678 (2022: £5,983) and Mr R Carter £2,546 (2022: owed to £2,496) in interest free, repayable on demand loans.

At the year end, the company owed the following companies related by common control, Lopay Ltd £386,348 (2023: £553,634), Paydog Ltd £32,178 (2022: £32,742) and Payment Loyalty Ltd owes the company £4,112 (2022: £4,112) in interest free, repayable on demand loans.
10 Controlling party
Throughout the year, the ultimate control remained with Mr R Carter and Mr R Batsford through their collective combined shareholding.
11 Other information
CHECKFER LTD is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
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