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Company Registration No. 11827452 (England and Wales)
Paynter Ltd Unaudited accounts for the year ended 29 February 2024
Paynter Ltd Unaudited accounts Contents
Page
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Paynter Ltd Company Information for the year ended 29 February 2024
Directors
Rebecca Elizabeth Okell Huw LLywelyn Thomas
Company Number
11827452 (England and Wales)
Registered Office
Studio 108 Netil House 1 Westgate Street London E8 3RL England
Accountants
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY
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Paynter Ltd Accountants' report
Accountants' report to the board of directors of Paynter Ltd on the preparation of the unaudited statutory accounts for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Paynter Ltd for the year ended 29 February 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Paynter Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Paynter Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paynter Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Paynter Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Paynter Ltd. You consider that Paynter Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Paynter Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY 19 November 2024
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Paynter Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,939 
281 
Tangible assets
7,232 
3,708 
9,171 
3,989 
Current assets
Debtors
653,386 
18,277 
Cash at bank and in hand
716,991 
337,995 
1,370,377 
356,272 
Creditors: amounts falling due within one year
(915,654)
(324,782)
Net current assets
454,723 
31,490 
Net assets
463,894 
35,479 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
463,892 
35,477 
Shareholders' funds
463,894 
35,479 
For the year ending 29 February 2024 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 19 November 2024 and were signed on its behalf by
Rebecca Elizabeth Okell Director Company Registration No. 11827452
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Paynter Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Paynter Ltd is a private company, limited by shares, registered in England and Wales, registration number 11827452. The registered office is Studio 108 Netil House, 1 Westgate Street, London, E8 3RL, England.
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
These financial statements for the year ended 29 February 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2022
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.
Turnover
Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to third party customers during the year. The goods and services are derived from the principal activities of the company.
Interest Income
Interest income is recognised in profit or loss using the effective interest method.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Current taxation
The tax expense for the year comprises current. 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 reporting date in the countries where the company operates.
Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a 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 statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
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Paynter Ltd Notes to the Accounts for the year ended 29 February 2024
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation. Amortisation has been provided using the straight line method at the following rates in order to write off the assets over their estimated useful lives: - Website 25%
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided using the straight line method at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20%
Computer equipment
50%
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivables 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.
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.
Creditors
Short term trade 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.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 March 2023
1,500 
Additions
2,000 
At 29 February 2024
3,500 
Amortisation
At 1 March 2023
1,219 
Charge for the year
342 
At 29 February 2024
1,561 
Net book value
At 29 February 2024
1,939 
At 28 February 2023
281 
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Paynter Ltd Notes to the Accounts for the year ended 29 February 2024
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
9,209 
- 
9,209 
Additions
2,828 
3,582 
6,410 
At 29 February 2024
12,037 
3,582 
15,619 
Depreciation
At 1 March 2023
5,501 
- 
5,501 
Charge for the year
2,209 
677 
2,886 
At 29 February 2024
7,710 
677 
8,387 
Net book value
At 29 February 2024
4,327 
2,905 
7,232 
At 28 February 2023
3,708 
- 
3,708 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
441,294 
10,724 
Other debtors
212,092 
7,553 
653,386 
18,277 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
20 
VAT
37,074 
23,723 
Trade creditors
18,760 
8,893 
Taxes and social security
193,277 
16,620 
Other creditors
127 
69,993 
Loans from directors
17,624 
14,816 
Accruals
648,792 
190,717 
915,654 
324,782 
8
Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the reporting date and are included in creditors.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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