Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-11-01falseConsultancy22truetrue 08237342 2022-11-01 2023-10-31 08237342 2021-11-01 2022-10-31 08237342 2023-10-31 08237342 2022-10-31 08237342 c:Director1 2022-11-01 2023-10-31 08237342 d:FurnitureFittings 2022-11-01 2023-10-31 08237342 d:FurnitureFittings 2023-10-31 08237342 d:FurnitureFittings 2022-10-31 08237342 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 08237342 d:CurrentFinancialInstruments 2023-10-31 08237342 d:CurrentFinancialInstruments 2022-10-31 08237342 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 08237342 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 08237342 d:ShareCapital 2023-10-31 08237342 d:ShareCapital 2022-10-31 08237342 d:RetainedEarningsAccumulatedLosses 2023-10-31 08237342 d:RetainedEarningsAccumulatedLosses 2022-10-31 08237342 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-10-31 08237342 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-10-31 08237342 c:FRS102 2022-11-01 2023-10-31 08237342 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08237342 c:FullAccounts 2022-11-01 2023-10-31 08237342 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08237342 2 2022-11-01 2023-10-31 08237342 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 08237342









INTPAY LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
INTPAY LTD
REGISTERED NUMBER: 08237342

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
613
766

  
613
766

Current assets
  

Debtors: amounts falling due within one year
 5 
33,691
-

Cash at bank and in hand
 6 
231,072
387,154

  
264,763
387,154

Creditors: amounts falling due within one year
 7 
(19,392)
(61,235)

Net current assets
  
 
 
245,371
 
 
325,919

Total assets less current liabilities
  
245,984
326,685

  

Net assets
  
245,984
326,685


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
245,884
326,585

  
245,984
326,685


Page 1

 
INTPAY LTD
REGISTERED NUMBER: 08237342
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider 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 directors acknowledge their 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 statement of income and retained earnings 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 22 October 2024.




................................................
Kevin Parker
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
INTPAY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales. The principal activity of the Company throughout the year was that of consultancy. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

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.

Page 3

 
INTPAY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
INTPAY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 5

 
INTPAY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 November 2022
2,941



At 31 October 2023

2,941



Depreciation


At 1 November 2022
2,175


Charge for the year on owned assets
153



At 31 October 2023

2,328



Net book value



At 31 October 2023
613



At 31 October 2022
766

Page 6

 
INTPAY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
14,242
-

Other debtors
19,449
-

33,691
-


Included within other debtors, due within one year is a loan to Marion Pain, the director, amounting to £9,000 (2022 - £nil)




6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
231,072
387,154

231,072
387,154



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
14,565
30,153

Other taxation and social security
2,957
19,223

Other creditors
-
10,074

Accruals and deferred income
1,870
1,785

19,392
61,235


Included in other creditors, is a director's loan balance of £nil (2022 - £10,074) in relation to Kevin Parker, the director.

Page 7

 
INTPAY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
231,072
387,154




Financial assets measured at fair value through profit or loss comprise of cash in bank and in hand.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £nil (2022 - £74,000). Contributions totaling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date.


10.


Controlling party

The Company is controlled by the director, Kevin Parker, by virtue of his shareholding, as described in the directors' report.

 
Page 8