CASHDASH UK LIMITED

Company Registration Number:
10207686 (England and Wales)

Unaudited abridged accounts for the year ended 27 December 2022

Period of accounts

Start date: 01 January 2022

End date: 27 December 2022

CASHDASH UK LIMITED

Contents of the Financial Statements

for the Period Ended 27 December 2022

Balance sheet
Notes

CASHDASH UK LIMITED

Balance sheet

As at 27 December 2022


Notes

2022

2021


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 14,849 11,324
Investments: 4 1 0
Total fixed assets: 14,850 11,324
Current assets
Stocks: 0 0
Debtors: 5 29,749,380 19,159,009
Cash at bank and in hand: 17,189,504 10,688,532
Investments:   0 0
Total current assets: 46,938,884 29,847,541
Creditors: amounts falling due within one year: 6 (46,376,209) (29,453,558)
Net current assets (liabilities): 562,675 393,983
Total assets less current liabilities: 577,525 405,307
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Total net assets (liabilities): 577,525 405,307
Capital and reserves
Called up share capital: 350,010 350,010
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 227,515 55,297
Shareholders funds: 577,525 405,307

The notes form part of these financial statements

CASHDASH UK LIMITED

Balance sheet statements

For the year ending 27 December 2022 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 March 2024
and signed on behalf of the board by:

Name: M Naor
Status: Director

The notes form part of these financial statements

CASHDASH UK LIMITED

Notes to the Financial Statements

for the Period Ended 27 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for services provided in thenormal course of business, and is shown net of VAT and other sales related taxes. The fair value ofconsideration takes into account trade discounts, settlement discounts and volume rebates.Turnover relates to commission received on payment processing services and is shown net of VAT.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net ofdepreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over theiruseful lives on the following bases:Fixtures and fittings 7% straight lineComputers 33% straight lineThe gain or loss arising on the disposal of an asset is determined as the difference between the sale proceedsand the carrying value of the asset, and is credited or charged to profit or loss.

Other accounting policies

Fixed asset investmentsInterests in subsidiaries, associates and jointly controlled entities are initially measured at cost andsubsequently measured at cost less any accumulated impairment losses. The investments are assessed forimpairment at each reporting date and any impairment losses or reversals of impairment losses arerecognised immediately in profit or loss.A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operatingpolicies of the entity so as to obtain benefits from its activities.An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a longterminterest and where the company has significant influence. The company considers that it has significantinfluence where it has the power to participate in the financial and operating decisions of the associate.Entities in which the company has a long term interest and shares control under a contractual arrangementare classified as jointly controlled entities.Impairment of fixed assetsAt each reporting period end date, the company reviews the carrying amounts of its tangible assets todetermine whether there is any indication that those assets have suffered an impairment loss. If any suchindication exists, the recoverable amount of the asset is estimated in order to determine the extent of theimpairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.Cash and cash equivalentsCash and cash equivalents are basic financial assets and include cash in hand, deposits held at call withbanks, other short-term liquid investments with original maturities of three months or less, and bankoverdrafts. Bank overdrafts are shown within borrowings in current liabilities.Financial instrumentsThe company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.Financial instruments are recognised in the company's balance sheet when the company becomes party tothe contractual provisions of the instrument.Financial assets and liabilities are offset, with the net amounts presented in the financial statements, whenthere is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a netbasis or to realise the asset and settle the liability simultaneously.Equity instrumentsEquity instruments issued by the company are recorded at the proceeds received, net of transaction costs.Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretionof the company.Employee benefitsThe costs of short-term employee benefits are recognised as a liability and an expense, unless those costsare required to be recognised as part of the cost of stock or fixed assets.The cost of any unused holiday entitlement is recognised in the period in which the employee's services arereceived.Termination benefits are recognised immediately as an expense when the company is demonstrablycommitted to terminate the employment of an employee or to provide termination benefits.LeasesRental income from operating leases is recognised on a straight line basis over the term of the relevant lease.Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amountof the leased asset and recognised on a straight line basis over the lease term.

CASHDASH UK LIMITED

Notes to the Financial Statements

for the Period Ended 27 December 2022

2. Employees

2022 2021
Average number of employees during the period 13 9

CASHDASH UK LIMITED

Notes to the Financial Statements

for the Period Ended 27 December 2022

3. Tangible Assets

Total
Cost £
At 01 January 2022 15,891
Additions 10,601
Disposals 0
Revaluations 0
Transfers 0
At 27 December 2022 26,492
Depreciation
At 01 January 2022 4,567
Charge for year 7,076
On disposals 0
Other adjustments 0
At 27 December 2022 11,643
Net book value
At 27 December 2022 14,849
At 31 December 2021 11,324

CASHDASH UK LIMITED

Notes to the Financial Statements

for the Period Ended 27 December 2022

4. Fixed investments

Shares in group undertakings and participating interests: £1 (2021: £0).

CASHDASH UK LIMITED

Notes to the Financial Statements

for the Period Ended 27 December 2022

5. Debtors

2022 2021
££
Debtors due after more than one year: 0 0

CASHDASH UK LIMITED

Notes to the Financial Statements

for the Period Ended 27 December 2022

6. Creditors: amounts falling due within one year note

Trade creditors £ 1,128,650 (2021: £124,666)Other creditors £45,247,559 (2022: £29,328,892)

CASHDASH UK LIMITED

Notes to the Financial Statements

for the Period Ended 27 December 2022

7. Related party transactions

There were no related party transactions conducted outside the normal course of business.