Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31falsetrue2023-06-01falseNo description of principal activity33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09353775 2023-06-01 2024-05-31 09353775 2022-06-01 2023-05-31 09353775 2024-05-31 09353775 2023-05-31 09353775 2022-06-01 09353775 c:Director1 2023-06-01 2024-05-31 09353775 d:ComputerEquipment 2023-06-01 2024-05-31 09353775 d:ComputerEquipment 2024-05-31 09353775 d:ComputerEquipment 2023-05-31 09353775 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09353775 d:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 09353775 d:OtherPropertyPlantEquipment 2024-05-31 09353775 d:OtherPropertyPlantEquipment 2023-05-31 09353775 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09353775 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09353775 d:ComputerSoftware 2024-05-31 09353775 d:ComputerSoftware 2023-05-31 09353775 d:OtherResidualIntangibleAssets 2023-06-01 2024-05-31 09353775 d:CurrentFinancialInstruments 2024-05-31 09353775 d:CurrentFinancialInstruments 2023-05-31 09353775 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 09353775 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 09353775 d:ShareCapital 2023-06-01 2024-05-31 09353775 d:ShareCapital 2024-05-31 09353775 d:ShareCapital 2022-06-01 2023-05-31 09353775 d:ShareCapital 2023-05-31 09353775 d:ShareCapital 2022-06-01 09353775 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 09353775 d:RetainedEarningsAccumulatedLosses 2024-05-31 09353775 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 09353775 d:RetainedEarningsAccumulatedLosses 2023-05-31 09353775 d:RetainedEarningsAccumulatedLosses 2022-06-01 09353775 c:FRS102 2023-06-01 2024-05-31 09353775 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09353775 c:FullAccounts 2023-06-01 2024-05-31 09353775 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09353775 d:ComputerSoftware d:OwnedIntangibleAssets 2023-06-01 2024-05-31 09353775 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 09353775










PAYDESK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
PAYDESK LIMITED
REGISTERED NUMBER:09353775

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
461
964

Tangible assets
 5 
3,329
6,279

  
3,790
7,243

Current assets
  

Debtors: amounts falling due within one year
 6 
663,962
531,457

Cash at bank and in hand
 7 
514,465
634,915

  
1,178,427
1,166,372

Creditors: amounts falling due within one year
 8 
(748,009)
(886,379)

Net current assets
  
 
 
430,418
 
 
279,993

Total assets less current liabilities
  
434,208
287,236

  

Net assets
  
434,208
287,236


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
434,008
287,036

  
434,208
287,236


Page 1

 
PAYDESK LIMITED
REGISTERED NUMBER:09353775
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




H Beresford-Peirse
Director

Date: 19 November 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
PAYDESK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 June 2022
200
159,965
160,165


Comprehensive income for the year

Profit for the year
-
216,071
216,071
Total comprehensive income for the year
-
216,071
216,071


Contributions by and distributions to owners

Dividends: Equity capital
-
(89,000)
(89,000)


Total transactions with owners
-
(89,000)
(89,000)



At 1 June 2023
200
287,036
287,236


Comprehensive income for the year

Profit for the year
-
146,972
146,972
Total comprehensive income for the year
-
146,972
146,972


Total transactions with owners
-
-
-


At 31 May 2024
200
434,008
434,208


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
PAYDESK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Paydesk Limited is a private company limited by share capital, registered in England and Wales, registration number 09353775. The address of the registered office is 14th Floor, 33 Cavendish Square, London, United Kingdom, W1G 0PW. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have reviewed expected trading and have concluded that it is appropiate to prepare the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
PAYDESK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Other computer software development
-
5
years

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33.33%
straight line
Software development
-
33.33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable 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.

Page 5

 
PAYDESK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Creditors

Short-term 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.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Intangible assets




Computer software

£



Cost


At 1 June 2023
23,517



At 31 May 2024

23,517



Amortisation


At 1 June 2023
22,553


Charge for the year on owned assets
503



At 31 May 2024

23,056



Net book value



At 31 May 2024
461



At 31 May 2023
964


Page 6

 
PAYDESK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
 
           4.Intangible assets (continued)



5.


Tangible fixed assets





Computer equipment
Software development
Total

£
£
£



Cost or valuation


At 1 June 2023
10,160
33,078
43,238


Additions
458
-
458



At 31 May 2024

10,618
33,078
43,696



Depreciation


At 1 June 2023
4,181
32,778
36,959


Charge for the year on owned assets
3,108
300
3,408



At 31 May 2024

7,289
33,078
40,367



Net book value



At 31 May 2024
3,329
-
3,329



At 31 May 2023
5,979
300
6,279


6.


Debtors

2024
2023
£
£


Trade debtors
566,874
465,852

Amounts owed by associates
83,369
59,004

Other debtors
13,592
6,468

Prepayments and accrued income
127
133

663,962
531,457


Page 7

 
PAYDESK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
514,465
634,915



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
26,988

Trade creditors
553,887
543,576

Amounts owed to associates
13,333
12,933

Corporation tax
50,122
53,516

Other taxation and social security
16,152
11,354

Other creditors
1,509
130,662

Accruals and deferred income
113,006
107,350

748,009
886,379



9.


Transactions with directors

Included in other creditors is an amount of £140 (2023: £71,215) owed to the directors of the company. The balance is unsecured and interest free.

 
Page 8