Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 4 | ||||||
Current assets | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
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Provisions for liabilities | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
A Minastakanyan | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
The company recognises revenue when it satisfies its obligation under a contract by transferring services to its customer. |
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Tangible fixed assets | ||||||||
Plant and machinery | 25% reducing balance | |||||||
Fixtures, fittings, tools and equipment | 25% reducing balance | |||||||
Investments | ||||||||
Cash at bank and in hand | ||||||||
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. | ||||||||
Financial instruments | ||||||||
"The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets | ||||||||
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. | ||||||||
Classification of financial liabilities | ||||||||
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities including trade and other payables that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Provisions | ||||||||
Foreign currency translation | ||||||||
Pensions | ||||||||
2 | Audit information | |||||||
Senior statutory auditor: | ||||||||
Firm: | ||||||||
Date of audit report: | ||||||||
3 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
4 | Tangible fixed assets | |||||||
Plant and machinery etc | Fixtures & fittings | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 March 2023 | ||||||||
At 29 February 2024 | ||||||||
Depreciation | ||||||||
At 1 March 2023 | ||||||||
Charge for the year | - | |||||||
At 29 February 2024 | ||||||||
Net book value | ||||||||
At 29 February 2024 | - | |||||||
At 28 February 2023 | - | |||||||
5 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Other debtors | ||||||||
6 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Trade creditors | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
7 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
£ | £ | |||||||
Other creditors | ||||||||
8 | Other financial commitments | 2024 | 2023 | |||||
£ | £ | |||||||
Total future minimum payments under non-cancellable operating leases | - | |||||||
9 | Related party transactions | |||||||
10 | Other information | |||||||
Paymaster24 Ltd is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
7 Portugal Place | ||||||||
Cambridge | ||||||||
England | ||||||||
CB5 8AF |