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Registration number: 10823930

Payols Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Payols Limited

Contents
for the Year Ended 30 June 2024

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Payols Limited

Company Information
for the Year Ended 30 June 2024

Director

T Bellon

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

10823930 ( England & Wales )

Accountants

Windsor Accountancy Limited
Chartered Certified AccountantsSt Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Payols Limited

(Registration number: 10823930)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,832

3,520

Current assets

 

Debtors

6

1,761,904

1,812,562

Cash at bank and in hand

 

27,581

42,481

 

1,789,485

1,855,043

Creditors: Amounts falling due within one year

7

(2,183)

(5,329)

Net current assets

 

1,787,302

1,849,714

Net assets

 

1,789,134

1,853,234

Capital and reserves

 

Called up share capital

1

1

Other reserves

17,194

69,526

Retained earnings

1,771,939

1,783,707

Shareholders' funds

 

1,789,134

1,853,234

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 February 2025
 

.........................................
T Bellon
Director

 

Payols Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the director on 6 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 and generates taxable income.

 

Payols Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Amounts classified as payable within one year are not amortised.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2023 - 1).

 

Payols Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

5,051

5,051

At 30 June 2024

5,051

5,051

Depreciation

At 1 July 2023

1,531

1,531

Charge for the year

1,688

1,688

At 30 June 2024

3,219

3,219

Carrying amount

At 30 June 2024

1,832

1,832

At 30 June 2023

3,520

3,520

 

Payols Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

25,808

25,808

At 30 June 2024

25,808

25,808

Impairment

Losses made in the period

25,808

25,808

At 30 June 2024

25,808

25,808

Carrying amount

At 30 June 2024

-

-

6

Debtors

Current

2024
£

2023
£

Amounts owed by group undertakings

1,761,395

935,079

Other debtors

509

877,483

 

1,761,904

1,812,562

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,000

2,016

Accruals and deferred income

34

2,000

Other creditors

149

1,313

2,183

5,329

 

Payols Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Foreign currency translation
£

Total
£

Foreign currency translation gains/losses

(52,332)

(52,332)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Foreign currency translation
£

Total
£

Foreign currency translation gains/losses

(40,197)

(40,197)

9

Related party transactions

Transactions with the director

2024

At 1 July 2023
£

Advances to director
£

At 30 June 2024
£

Advances and credits

(1,313)

1,165

(148)

 

2023

At 1 July 2022
£

Advances to director
£

At 30 June 2023
£

Advances and credits

(10,090)

8,777

(1,313)

 

Other transactions with the director

The balance due to the director at the year end was free of interest and deemed repayable on demand.