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Registered number: 11100986
Pay London Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11100986
2024 2023
Notes
CURRENT ASSETS
Debtors 4 299,037 298,015
Cash at bank and in hand 245,839 303,317
544,876 601,332
Creditors: Amounts Falling Due Within One Year 5 (130,045 ) (115,020 )
NET CURRENT ASSETS (LIABILITIES) 414,831 486,312
TOTAL ASSETS LESS CURRENT LIABILITIES 414,831 486,312
NET ASSETS 414,831 486,312
CAPITAL AND RESERVES
Called up share capital 6 872,649 872,649
Profit and Loss Account (457,818 ) (386,337 )
SHAREHOLDERS' FUNDS 414,831 486,312
Page 1
Page 2
For the year ending 31 December 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 director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Guntars REIDZANS
Director
06/06/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pay London Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11100986 . The registered office is Dragon Suite, St Georges House, 15 Hanover Square, London, W1S 1HS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
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, regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received, taking into account contractually defined terms of payment and excluding taxes or duty. Rebates are also deducted.
Revenue from transaction processing services (revenue received from end users and FX income) is recognised at the time the customer transactions are fulfilled. End user fees are paid by end users and are calculated as a percentage of funds processed and/or as a charge per transaction.


2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into euro at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 25)
1 25
4. Debtors
2024 2023
Due within one year
Trade debtors 153,292 -
Prepayments and accrued income 133,460 140,527
Other debtors - 154,217
VAT 12,285 3,271
299,037 298,015
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5. Creditors: Amounts Falling Due Within One Year
2024 2023
Trade creditors 40,891 48,978
Corporation tax (4,835 ) (4,383 )
Other taxes and social security 217 217
Other creditors 13,303 14,595
Accruals and deferred income 54,287 55,613
Director's loan account 26,182 -
130,045 115,020
6. Share Capital
2024 2023
Allotted, Called up and fully paid 872,649 872,649
7. Audit Information
The auditor's report on the accounts of Pay London Ltd for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Statutory Auditor.
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