Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activitytruefalse2023-01-01true00The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08439416 2022-12-31 08439416 2023-01-01 2023-12-31 08439416 2022-01-01 2022-12-31 08439416 2023-12-31 08439416 c:Director1 2023-01-01 2023-12-31 08439416 d:CurrentFinancialInstruments 2023-12-31 08439416 d:CurrentFinancialInstruments 2022-12-31 08439416 c:FRS102 2023-01-01 2023-12-31 08439416 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08439416 c:FullAccounts 2023-01-01 2023-12-31 08439416 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08439416 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 08439416









KOGOPAY (UK) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
KOGOPAY (UK) LIMITED
REGISTERED NUMBER: 08439416

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
£
£


Current assets
320,649
161,174

Creditors: amounts falling due within one year
(408,234)
(119,146)

Net current (liabilities)/assets
 
 
(87,585)
 
 
42,028

Total assets less current liabilities
(87,585)
42,028


Net (liabilities)/assets
(87,585)
42,028



Capital and reserves
(87,585)
42,028


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 September 2024.

Narisa Chauvidul-Aw
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
KOGOPAY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

KogoPay (UK) Limited is a private company, limited by shares, registered in England and Wales. The company's registered office address is Zrs- Building 3, Oakleigh Road South, London, N11 1NP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Notwithstanding net current liabilities of £87,585 as at 31st December 2023 and a loss for the year of £129,613, the financial statements have been prepared on a going concern basis.
 
The director believes the company will have sufficient funds for a period of at least 12 months from the date of approval of these financial statements, through funding from its parent company, Smile Money Ltd, to meet its liabilities as they fall due for that period.
 
Smile Money Ltd have indicated its intention to continue to make funds available as needed. As with any company placing reliance on other group entities for financial support, the director acknowledges that there is no certainty that this support will continue and will continue to monitor this position. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
KOGOPAY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The Company has no employees other than the director, who did not receive any remuneration (2022 - £NIL).

The average monthly number of employees, including directors, during the year was 0 (2022 - 0).

Page 3

 
KOGOPAY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
276,364
161,176

276,364
161,176



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
35
13,454

Amounts owed to group undertakings
311,073
-

Other creditors
97,126
79,107

Accruals and deferred income
-
26,585

408,234
119,146



6.


Controlling party

The company is a wholly owned subsidiary of Smile Money Ltd.

 
Page 4