1 January 2023 false No description of principal activity Taxfiler 2024.5 12895809business:PrivateLimitedCompanyLtd2023-01-012023-12-31 128958092022-12-31 128958092023-01-012023-12-31 12895809business:AuditExempt-NoAccountantsReport2023-01-012023-12-31 12895809business:FilletedAccounts2023-01-012023-12-31 128958092023-12-31 12895809business:Director12023-01-012023-12-31 12895809business:Director22023-01-012023-12-31 12895809business:RegisteredOffice2023-01-012023-12-31 128958092022-12-31 12895809core:WithinOneYear2023-12-31 12895809core:WithinOneYear2022-12-31 12895809core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 12895809core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 12895809core:SharePremiumcore:PreviouslyStatedAmount2023-12-31 12895809core:SharePremiumcore:PreviouslyStatedAmount2022-12-31 12895809core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 12895809core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 12895809core:PreviouslyStatedAmount2023-12-31 12895809core:PreviouslyStatedAmount2022-12-31 12895809business:SmallEntities2023-01-012023-12-31 12895809countries:EnglandWales2023-01-012023-12-31 12895809core:FurnitureFittings2023-01-012023-12-31 12895809core:ComputerEquipment2023-01-012023-12-31 12895809core:IntangibleAssetsOtherThanGoodwill2022-12-31 12895809core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-31 12895809core:IntangibleAssetsOtherThanGoodwill2023-12-31 12895809core:FurnitureFittings2022-12-31 12895809core:ComputerEquipment2022-12-31 12895809core:FurnitureFittings2023-12-31 12895809core:ComputerEquipment2023-12-31 12895809core:AfterOneYear2023-12-31 12895809core:AfterOneYear2022-12-31 128958092022-01-012022-12-31 iso4217:GBP xbrli:pure
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
Page
- 2 -
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
- 3 -
Cheddar Payments Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,460 
1,710 
Tangible assets
2,066 
1,623 
3,526 
3,333 
Current assets
Debtors
963,169 
888,087 
Cash at bank and in hand
121,033 
127,212 
1,084,202 
1,015,299 
Creditors: amounts falling due within one year
(425,345)
(548,404)
Net current assets
658,857 
466,895 
Net assets
662,383 
470,228 
Capital and reserves
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
- 4 -
Cheddar Payments Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
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
- 5 -
Cheddar Payments Limited Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
2,850 
Additions
400 
At 31 December 2023
3,250 
Amortisation
At 1 January 2023
1,140 
Charge for the year
650 
At 31 December 2023
1,790 
Net book value
At 31 December 2023
1,460 
At 31 December 2022
1,710 
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 
Additions
743 
1,041 
1,784 
At 31 December 2023
2,992 
2,671 
5,663 
Depreciation
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 
Net book value
At 31 December 2023
1,069 
997 
2,066 
At 31 December 2022
1,080 
543 
1,623 
6
Debtors
2023 
2022 
£ 
£ 
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 
- 6 -
Cheddar Payments Limited Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
10,715 
(27,789)
Trade creditors
11,977 
518 
Amounts owed to group undertakings and other participating interests
204,693 
- 
Taxes and social security
197,960 
(9,563)
Accruals
- 
585,238 
425,345 
548,404 
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).
- 7 -