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COMPANY REGISTRATION NUMBER: 02226380
Payphase Limited
Filleted Unaudited Financial Statements
31 July 2023
Payphase Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
5,319,790
5,319,790
Cash at bank and in hand
207,368
207,464
------------
------------
5,527,158
5,527,254
Creditors: amounts falling due within one year
5
4,748,533
4,747,675
------------
------------
Net current assets
778,625
779,579
---------
---------
Total assets less current liabilities
778,625
779,579
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
778,623
779,577
---------
---------
Shareholders funds
778,625
779,579
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
S Friedman
Director
Company registration number: 02226380
Payphase Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Debtors
2023
2022
£
£
Other debtors
5,319,790
5,319,790
------------
------------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Loan creditors
4,714,301
4,714,301
Sundry creditors and accruals
34,232
33,374
------------
------------
4,748,533
4,747,675
------------
------------