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Registered number: 14155294









PAYLOGIC LIMITED







UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
PAYLOGIC LIMITED
 
 
COMPANY INFORMATION


Director
A. Slimani (appointed 7 June 2022)




Registered number
14155294



Registered office
1 Charterhouse Mews

London

EC1M 6BB





 
PAYLOGIC LIMITED
 

CONTENTS



Page
1
Profit and Loss Account
2
Balance Sheet
3
Notes to the Financial Statements
4 - 5


 
PAYLOGIC LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2023

Directors' responsibilities statement
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with
applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the
directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Under company law the
directors must not approve the financial statements unless they are satisfied that they give a true and fair view of
the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
-  select suitable accounting policies and then apply them consistently;
-  make judgments and accounting estimates that are reasonable and prudent;
-  prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
   Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain
the Company's transactions and disclose with reasonable accuracy at any time the financial position of the
Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.

This report was approved by the board and signed on its behalf.
 





A. Slimani
Director

Date: 29 July 2024

Page 1

 
PAYLOGIC LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2023

31 December 2023
30 June 2023
Note
£
£

  

Administrative expenses
  
(26,881)
(23,593)

Operating loss
  
(26,881)
(23,593)

Loss for the financial period
  
(26,881)
(23,593)

The notes on pages 4 to 5 form part of these financial statements.

Page 2

 
PAYLOGIC LIMITED
REGISTERED NUMBER: 14155294

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December
30 June
2023
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
4,104
2,312

Cash at bank and in hand
 5 
1,922
1,639

  
6,026
3,951

Creditors: amounts falling due within one year
 6 
(54,138)
(25,182)

Net current liabilities
  
 
 
(48,112)
 
 
(21,231)

Total assets less current liabilities
  
(48,112)
(21,231)

  

Net liabilities
  
(48,112)
(21,231)


Capital and reserves
  

Called up share capital 
 7 
2,362
2,362

Other reserves
  
(23,593)
-

Profit and loss account
  
(26,881)
(23,593)

  
(48,112)
(21,231)


The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the 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 29 July 2024.



A. Slimani
Director

The notes on pages 4 to 5 form part of these financial statements.

Page 3

 
PAYLOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Paylogic Limited is a private company, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The accounting reference date was changed from 30 June to 31 December. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

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.

 
2.4

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.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


Debtors

31 December
30 June
2023
2023
£
£
Page 4

 
PAYLOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.Debtors (continued)



Other debtors
4,104
2,312

4,104
2,312



5.


Cash and cash equivalents

31 December 
30 June 
2023
2023
£
£

Cash at bank and in hand
1,922
1,639

1,922
1,639



6.


Creditors: Amounts falling due within one year

31 December
30 June
2023
2023
£

Trade creditors
22,212
8,974

Current account - Paylogic S.A.
31,926
16,208

54,138
25,182



7.


Share capital

31 December
30 June
2023
2023
£
£
Allotted, called up and fully paid



3,000 (2023 - 3,000) Ordinary shares of $1.00 each
2,362
2,362


 
Page 5