Company Registration No. 12895809 (England and Wales)
Cheddar Payments Limited
Unaudited accounts
for the year ended 31 December 2023
Cheddar Payments Limited
Unaudited accounts
Contents
Cheddar Payments Limited
Company Information
for the year ended 31 December 2023
Directors
LUKE ANTHONY LADYMAN
TARIQ MOHAMED ZAID
Company Number
12895809 (England and Wales)
Registered Office
71-75 SHELTON STREET
LONDON
GREATER LONDON
WC2H 9JQ
UNITED KINGDOM
Cheddar Payments Limited
Statement of financial position
as at 31 December 2023
Intangible assets
1,460
1,710
Tangible assets
2,066
1,623
Cash at bank and in hand
121,033
127,212
Creditors: amounts falling due within one year
(425,345)
(548,404)
Net current assets
658,857
466,895
Net assets
662,383
470,228
Called up share capital
3,758
2,158
Share premium
3,046,231
1,801,920
Profit and loss account
(2,387,606)
(1,333,850)
Shareholders' funds
662,383
470,228
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 30 June 2024 and were signed on its behalf by
LUKE ANTHONY LADYMAN
Director
Company Registration No. 12895809
Cheddar Payments Limited
Notes to the Accounts
for the year ended 31 December 2023
Cheddar Payments Limited is a private company, limited by shares, registered in England and Wales, registration number 12895809. The registered office is 71-75 SHELTON STREET, LONDON, GREATER LONDON, WC2H 9JQ, UNITED KINGDOM.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Licenses are stated at cost less accumulated amortisation and accumulated impairment losses. Licenses are amortised over their useful life of five years, on a straight line basis, with a full year of amortisation in the year of acquisition.
Where factors, such as changes in market price indicate that residual value or useful life have changed, the residual value, useful life or amortisation rate are amended prospectively to reflect the new circumstances.
The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired.
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:
Fixtures & fittings
3 years
Computer equipment
3 years
Cheddar Payments Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Other
Intangibles are amortised over the useful economic life at 20% of cost per year.
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2023
2,249
1,630
3,879
At 31 December 2023
2,992
2,671
5,663
At 1 January 2023
1,169
1,087
2,256
Charge for the year
754
587
1,341
At 31 December 2023
1,923
1,674
3,597
At 31 December 2023
1,069
997
2,066
At 31 December 2022
1,080
543
1,623
Amounts falling due within one year
Trade debtors
96,272
1,484
Amounts falling due after more than one year
Amounts due from group undertakings etc.
866,897
886,603
Cheddar Payments Limited
Notes to the Accounts
for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
11,977
518
Amounts owed to group undertakings and other participating interests
204,693
-
Taxes and social security
197,960
(9,563)
8
Transactions with related parties
The company owes £585,238 to Cheddar Payments BV, which is a non-trading parent company under common control of the directors.
Amounts relate to the recharge of software development expenses during the year.
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).