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Company Registration No. 12289765 (England and Wales)
PAY IO LTD
Financial Statements
for the Period from 01 November 2022 to 31 October 2023

PAY IO LTD

Financial Statements for the period ending 31 October 2023

PAY IO LTD

Financial Statements for the period ending 31 October 2023

Notes to the Accounts

1. Statutory Information
PAY IO LTD is a private company, limited by shares, registered in England and Wales, registration number 12289765.
2. Accounting Policies
Basis of preparing the Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities.
Presentation Currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

PAY IO LTD

Financial Statements for the period ending 31 October 2023

Notes to the Accounts

Current Tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the IncomeStatement, except to the extent that it relates to items recognised in other comprehensiveincome or directly in equity.Current or deferred taxation assets and liabilities are not discounted.Current tax is recognised at the amount of tax payable using the tax rates and laws thathave been enacted or substantively enacted by the balance sheet date.
Tangible Fixed Asset Policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.25% on cost.

PAY IO LTD

Financial Statements for the period ending 31 October 2023

Notes to the Accounts

Deferred Tax
Deferred tax is recognised in respect of all timing differences that have originated but notreversed at the balance sheet date.Timing differences arise from the inclusion of income and expenses in tax assessments inperiods different from those in which they are recognised in financial statements. Deferredtax is measured using tax rates and laws that have been enacted or substantively enactedby the year end and that are expected to apply to the reversal of the timing difference.Unrelieved tax losses and other deferred tax assets are recognised only to the extent that itis probable that they will be recovered against the reversal of deferred tax liabilities or otherfuture taxable profits.

PAY IO LTD

Financial Statements for the period ending 31 October 2023

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2023 9
2022 4
4. Principal Activity
Other information technology service activities

PAY IO LTD

Financial Statements for the period ending 31 October 2023

Notes to the Accounts

5. Fixed Assets
Computer Equipment Total
Cost or valuation £ £
At 01/11/2022 6,765 6,765
Additions 9,687 9,687
At 31/10/2023 16,452 16,452
Depreciation
At 01/11/2022 476 476
Charge for the year 3,174 3,174
At 31/10/2023 3,650 3,650
Net Book Value
At 31/10/2023 12,802 12,802
At 31/10/2022 6,289 6,289

PAY IO LTD

Financial Statements for the period ending 31 October 2023

Notes to the Accounts

6. Creditors: amount falling due within one year
2023 2022
£ £
Bank Loans and other overdrafts 69,553 -
Trade Creditors 15,636 -
Corporation Tax 11,217 -
Other Creditors 34,710 -
131,116 -

PAY IO LTD

Financial Statements for the period ending 31 October 2023

Notes to the Accounts

7. Creditors: amount falling due after one year
2023 2022
£ £
Bank Loans and overdrafts 47,242 797,592
Other creditors falling due after more than one year 1,039,466 -
1,086,708 797,592