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Company Registration No. 12921042 (England and Wales)
PAYAABLE LTD Unaudited accounts for the year ended 31 December 2023
PAYAABLE LTD Unaudited accounts Contents
Page
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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
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PAYAABLE LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
529 
529 
Tangible assets
1,982 
4,683 
2,511 
5,212 
Current assets
Debtors
32,730 
333,365 
Cash at bank and in hand
474,277 
1,926 
507,007 
335,291 
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 
Capital and reserves
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
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PAYAABLE LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
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.
Foreign exchange
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.
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PAYAABLE LTD Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
529 
At 31 December 2023
529 
Amortisation
At 1 January 2023
- 
At 31 December 2023
- 
Net book value
At 31 December 2023
529 
At 31 December 2022
529 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2023
8,188 
At 31 December 2023
8,188 
Depreciation
At 1 January 2023
3,505 
Charge for the year
2,701 
At 31 December 2023
6,206 
Net book value
At 31 December 2023
1,982 
At 31 December 2022
4,683 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
15,271 
8,061 
Trade debtors
3,097 
- 
Accrued income and prepayments
14,362 
152,292 
Other debtors
- 
173,012 
32,730 
333,365 
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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 
Other creditors
2,562 
- 
Loans from directors
18,750 
25,977 
Accruals
211,980 
177,290 
511,960 
279,083 
8
Share capital
2023 
2022 
£ 
£ 
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).
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