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REGISTERED NUMBER: 06929039 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Incendia Payment Solutions Limited

Incendia Payment Solutions Limited (Registered number: 06929039)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Incendia Payment Solutions Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: I Williams
J Smith





SECRETARY: I Williams





REGISTERED OFFICE: Castle Chambers
Suite 8, 3rd Floor
43 Castle Street
Liverpool
Merseyside
L2 9SH





REGISTERED NUMBER: 06929039 (England and Wales)






Incendia Payment Solutions Limited (Registered number: 06929039)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - -
Investments 6 1 1
1 1

CURRENT ASSETS
Debtors 7 198,654 71,269
Cash at bank 811 8,374
199,465 79,643
CREDITORS
Amounts falling due within one year 8 549,862 615,451
NET CURRENT LIABILITIES (350,397 ) (535,808 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(350,396

)

(535,807

)

CAPITAL AND RESERVES
Called up share capital 400,000 400,000
Retained earnings (750,396 ) (935,807 )
SHAREHOLDERS' FUNDS (350,396 ) (535,807 )

Incendia Payment Solutions Limited (Registered number: 06929039)

Statement of Financial Position - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





I Williams - Director


Incendia Payment Solutions Limited (Registered number: 06929039)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Incendia Payment Solutions Limited 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.

Development costs are being amortised evenly over their estimated useful life of seven 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 - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Going concern
The financial statements to 31 December 2023 show a shareholder's deficit of £750,396 (2022: £935,807).

The directors have considered the future profitability of the company and its ability to continue as a going concern and have prepared profit and cash flow forecasts into the future.
Based on projections the directors are satisfied that, for the foreseeable future, the company can meet its projected working capital requirement.
Consequently the financial statements have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 8 ) .

Incendia Payment Solutions Limited (Registered number: 06929039)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 115,000
AMORTISATION
At 1 January 2023
and 31 December 2023 115,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 8,849
DEPRECIATION
At 1 January 2023
and 31 December 2023 8,849
NET BOOK VALUE
At 31 December 2023 -

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

Incendia Payment Solutions Limited (Registered number: 06929039)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 561 21,069
Amounts owed by participating interests 28,920 50,200
Other debtors 169,173 -
198,654 71,269

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 42,142 6,833
Amounts owed to group undertakings 125,093 154,955
Amounts owed to participating interests 100,717 133,057
Taxation and social security 21,061 56,896
Other creditors 260,849 263,710
549,862 615,451

9. RELATED PARTY DISCLOSURES

The company is 100% owned by Incendia Group Limited, a company in which I Williams has a material interest in.

An amount of £125,093 (2022: £154,955) is due to Incendia Group Limited at the year end.

An amount of £37,500 (2022: due to £150,833) is due from the directors at the year end.

The company owns 100% of the issued share capital of Incendia Professional Services Limited, a company in which Ian Williams is director.

There were amounts due to the subsidiary at the period end of £100,717 (2022: £133,029).

An amount of £28,920 (2022: £50,200) is due to the company from Incendia Card Solutions Limited, a company owed by Incendia Group Limited