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REGISTERED NUMBER: 09224915 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

THE CARD AND PAYMENTS AWARDS LTD

THE CARD AND PAYMENTS AWARDS LTD (REGISTERED NUMBER: 09224915)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


THE CARD AND PAYMENTS AWARDS LTD

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: M P Harty
A P Davis





REGISTERED OFFICE: Langley House
Park Road
London
N2 8EY





REGISTERED NUMBER: 09224915 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

THE CARD AND PAYMENTS AWARDS LTD (REGISTERED NUMBER: 09224915)

STATEMENT OF FINANCIAL POSITION
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 234,579 227,795
234,579 227,795

CURRENT ASSETS
Debtors 6 288,727 294,447
Cash at bank 604,111 514,004
892,838 808,451
CREDITORS
Amounts falling due within one year 7 108,893 124,518
NET CURRENT ASSETS 783,945 683,933
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,018,524

911,728

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,018,424 911,628
1,018,524 911,728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:



M P Harty - Director


THE CARD AND PAYMENTS AWARDS LTD (REGISTERED NUMBER: 09224915)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

The Card and Payments Awards 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 and represents amounts receivable for services rendered, excluding discounts, rebates, value added tax and other sales taxes. Revenue from the sale of services are recognised when the significant risks and rewards of ownership of the service have transferred to the buyer, which is after the event takes place.

Goodwill
Goodwill has been fully amortised over 5 years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset ClassDepreciation method rate
Freehold propertyover 50 years
Freehold Landnot depreciated
Computer equipmentstraight line basis over 3 years
Fixture and fittingsStraight line basis over 4 years

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.


THE CARD AND PAYMENTS AWARDS LTD (REGISTERED NUMBER: 09224915)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

THE CARD AND PAYMENTS AWARDS LTD (REGISTERED NUMBER: 09224915)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 40,000
AMORTISATION
At 1 March 2023
and 29 February 2024 40,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 246,172 8,734 254,906
Additions - 14,444 14,444
At 29 February 2024 246,172 23,178 269,350
DEPRECIATION
At 1 March 2023 19,561 7,550 27,111
Charge for year 3,282 4,378 7,660
At 29 February 2024 22,843 11,928 34,771
NET BOOK VALUE
At 29 February 2024 223,329 11,250 234,579
At 28 February 2023 226,611 1,184 227,795

Included in cost of land and buildings is freehold land of £ 82,057 (2023 - £ 82,057 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 5,900 11,204
Amounts owed by group undertakings 261,914 -
Other debtors 20,913 283,243
288,727 294,447

THE CARD AND PAYMENTS AWARDS LTD (REGISTERED NUMBER: 09224915)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 6,531 17,913
Taxation and social security 40,043 85,903
Other creditors 62,319 20,702
108,893 124,518

8. RELATED PARTY DISCLOSURES

At the date of these financial statements the company was owed £23,708 (2023: £23.703) by Besecure Ltd and £238,206 (2023: 238,206) by Narvacrest Ltd. These amounts have been provided on an interest free basis and are repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The company is 80% owned by parent company, Besecure Ltd, and company incorporated in Ireland.