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REGISTERED NUMBER: 12431685 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

Paymentz Ltd

Paymentz Ltd (Registered number: 12431685)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Paymentz Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: D Sadovenko
G M Stein



REGISTERED OFFICE: 2-4 Eastern Road
Imperial Offices
Romford
Essex
RM1 3PJ



REGISTERED NUMBER: 12431685 (England and Wales)



SENIOR STATUTORY AUDITOR: Mary E Ryan



AUDITORS: Ark Accountancy Limited
Chartered Certified Accountant &
Statutory Auditor
31 Cheam Road
Epsom
Surrey
KT17 1QX

Paymentz Ltd (Registered number: 12431685)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,681 7,705
Tangible assets 5 538 1,212
14,219 8,917

CURRENT ASSETS
Debtors 6 156,632 -
Cash at bank 148,828 199,192
305,460 199,192
CREDITORS
Amounts falling due within one year 7 298,271 202,733
NET CURRENT ASSETS/(LIABILITIES) 7,189 (3,541 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,408

5,376

CAPITAL AND RESERVES
Called up share capital 150,000 150,000
Retained earnings (128,592 ) (144,624 )
21,408 5,376

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





G M Stein - Director


Paymentz Ltd (Registered number: 12431685)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Paymentz Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income 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 that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by 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 it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

Paymentz Ltd (Registered number: 12431685)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023 9,631
Additions 8,748
At 31 January 2024 18,379
AMORTISATION
At 1 February 2023 1,926
Charge for year 2,772
At 31 January 2024 4,698
NET BOOK VALUE
At 31 January 2024 13,681
At 31 January 2023 7,705

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 2,020
DEPRECIATION
At 1 February 2023 808
Charge for year 674
At 31 January 2024 1,482
NET BOOK VALUE
At 31 January 2024 538
At 31 January 2023 1,212

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 154,195 -
Other debtors 2,437 -
156,632 -

Paymentz Ltd (Registered number: 12431685)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 52,853 11,365
Taxation and social security (75 ) -
Other creditors 245,493 191,368
298,271 202,733

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mary E Ryan (Senior Statutory Auditor)
for and on behalf of Ark Accountancy Limited

9. RELATED PARTY DISCLOSURES

£472 (2023 £3,207) was paid to one director for expenses incurred and £9000 (2023 nil) for remuneration. The company made sales of nil (2023 £30377) to one director.