Company Registration No. 12921042 (England and Wales)
PAYAABLE LTD
Unaudited accounts
for the year ended 31 December 2023
PAYAABLE LTD
Unaudited accounts
Contents
PAYAABLE LTD
Company Information
for the year ended 31 December 2023
Directors
Henry Michael Arnold
Joseph Gabriel Lines
Olga Shikhantsova
Company Number
12921042 (England and Wales)
Registered Office
128 City Road
London
EC1V 2NX
Accountants
Sleek Accounting Ltd
107 Kirkgate
Leeds
West Yorkshire
LS1 6DP
PAYAABLE LTD
Statement of financial position
as at 31 December 2023
Tangible assets
1,982
4,683
Cash at bank and in hand
474,277
1,926
Creditors: amounts falling due within one year
(511,960)
(279,083)
Net current (liabilities)/assets
(4,953)
56,208
Net (liabilities)/assets
(2,442)
61,420
Called up share capital
3
3
Share premium
1,901,553
800,000
Profit and loss account
(1,903,998)
(738,583)
Shareholders' funds
(2,442)
61,420
For the year ending 31 December 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by
Joseph Gabriel Lines
Director
Company Registration No. 12921042
PAYAABLE LTD
Notes to the Accounts
for the year ended 31 December 2023
PAYAABLE LTD is a private company, limited by shares, registered in England and Wales, registration number 12921042. The registered office is 128 City Road, London, EC1V 2NX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Expenditure on research and development is written off in the year in which it is incurred.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
PAYAABLE LTD
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Other
5
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Accrued income and prepayments
14,362
152,292
PAYAABLE LTD
Notes to the Accounts
for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
46,992
47,438
Amounts owed to group undertakings and other participating interests
206,114
-
Taxes and social security
25,562
28,378
Loans from directors
18,750
25,977
Allotted, called up and fully paid:
3,348,630 Ordinary shares of £0.000001 each
3.34
2.57
Shares issued during the period:
777,201 Ordinary shares of £0.000001 each
0.77
9
Average number of employees
During the year the average number of employees was 5 (2022: 4).