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Registered number: 14155294









PAYLOGIC LIMITED







UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PAYLOGIC LIMITED
 
 
COMPANY INFORMATION


Director
A. Slimani (appointed 7 June 2022)




Registered number
14155294



Registered office
1 Charterhouse Mews

London

EC1M 6BB





 
PAYLOGIC LIMITED
 

CONTENTS



Page
1
Profit and Loss Account
2
Balance Sheet
3
Statement of Changes in Equity
4
Notes to the Financial Statements
5 - 7


 
PAYLOGIC LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Directors' responsibilities statement
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with
applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the
directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Under company law the
directors must not approve the financial statements unless they are satisfied that they give a true and fair view of
the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
-  select suitable accounting policies and then apply them consistently;
-  make judgments and accounting estimates that are reasonable and prudent;
-  prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
   Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain
the Company's transactions and disclose with reasonable accuracy at any time the financial position of the
Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.

This report was approved by the board and signed on its behalf.
 





A. Slimani
Director

Date: 13 May 2025

Page 1

 
PAYLOGIC LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024

31 December 2024
31 December  2023
Note
£
£

  

Turnover
  
22.198
-

Gross profit
  
22.198
-

Administrative expenses
  
(15.766)
(26.881)

Operating profit/(loss)
  
6.432
(26.881)

Profit/(loss) for the financial year
  
6.432
(26.881)

The notes on pages 5 to 7 form part of these financial statements.

Page 2

 
PAYLOGIC LIMITED
REGISTERED NUMBER: 14155294

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
-
4.104

Cash at bank and in hand
 5 
2.226
1.922

  
2.226
6.026

Creditors: amounts falling due within one year
 6 
(9.618)
(54.138)

Net current liabilities
  
 
 
(7.392)
 
 
(48.112)

Total assets less current liabilities
  
(7.392)
(48.112)

  

Net liabilities
  
(7.392)
(48.112)


Capital and reserves
  

Called up share capital 
 7 
2.362
2.362

Share premium account
  
34.288
-

Profit and loss account
  
(44.042)
(50.474)

  
(7.392)
(48.112)


The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the 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 on 13 May 2025.



A. Slimani
Director

The notes on pages 5 to 7 form part of these financial statements.

Page 3

 

 
PAYLOGIC LIMITED


 

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



Called up share capital
Share premium account
Profit and loss account
Total equity


£
£
£
£



At 1 July 2023
2.362
-
(23.593)
(21.231)



Comprehensive income for the period


Loss for the period
-
-
(26.881)
(26.881)





At 1 January 2024
2.362
-
(50.474)
(48.112)



Comprehensive income for the year


Profit for the year
-
-
6.432
6.432


Shares premium issued during the year
-
34.288
-
34.288



At 31 December 2024
2.362
34.288
(44.042)
(7.392)



The notes on pages 5 to 7 form part of these financial statements.

Page 4

 
PAYLOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Paylogic Limited is a private company, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 5

 
PAYLOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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.

 
2.5

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.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


Debtors

2024
2023
£
£


Other debtors
-
4.104

-
4.104



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2.226
1.922

2.226
1.922


Page 6

 
PAYLOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£

Trade creditors
6.985
22.212

Current account - Paylogic S.A.
2.633
31.926

9.618
54.138



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3.000 (2023 - 3.000) Ordinary shares of $1,00 each
2.362
2.362


 
Page 7