| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| BUYAPOWA LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| BUYAPOWA LIMITED |
| BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 June 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| BUYAPOWA LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30 June 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 24 Wellington Business Park |
| Dukes Ride |
| Crowthorne |
| Berkshire |
| RG45 6LS |
| BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
| BALANCE SHEET |
| 30 June 2024 |
| 30/6/24 | 30/6/23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 9 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
| BALANCE SHEET - continued |
| 30 June 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 June 2024 |
| 1. | STATUTORY INFORMATION |
| Buyapowa Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents revenue earned under a variety of contracts to provide services. |
| Revenue is recognised on a monthly basis over the life of a contract. To the extent that revenue is not earned within an accounting period it is recorded in the balance sheet within creditors as deferred income and released to the profit and loss account in the period to which it relates. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery - 33% on cost |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. |
| Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Research and development |
| Expenditure on research and development is capitalised as an intangible asset. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Going concern |
| The company meets its day to day working capital requirements through obtaining short and medium term funding. |
| The nature of the company's business is such that there can be considerable unpredictable variation in the timing of cash inflows. The directors have considered projected cash flow information for a period more than one year from the date of their approval of these financial statements. On the basis of this cash flow information and with reference to the present short and medium term funding already obtained the directors consider that the company will require no additional facilities to meet its day to day obligations. |
| The financial statements do not include any adjustments that would result from a lack of working capital. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 July 2023 |
| Additions |
| At 30 June 2024 |
| AMORTISATION |
| At 1 July 2023 |
| Charge for year |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 July 2023 |
| Additions |
| At 30 June 2024 |
| DEPRECIATION |
| At 1 July 2023 |
| Charge for year |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 July 2023 |
| and 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/6/24 | 30/6/23 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/6/24 | 30/6/23 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Other creditors includes £385,054 relating to secured loans which are described in note 11. |
| BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2024 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30/6/24 | 30/6/23 |
| £ | £ |
| Other creditors |
| Other creditors in note 10 and note 11 includes secured loans totalling £1,756,971 and unsecured loans totalling £550,000. These are detailed below: |
| SaaS Capital loan facility holds a fixed and floating charge over the assets of the company. The loan is denominated in US Dollars and a total of four drawdowns have been issued during the year. |
| Drawdown 1 was issued in December 2021 providing $550,000 at a fixed rate of interest of 13.75% over a 43 month term. |
| Drawdown 2 was issued in May 2022 providing $325,000 at a fixed rate of interest of 13.75% over a 43 month term. |
| Drawdown 3 was issued in August 2022 providing $150,000 at a fixed rate of interest of 15.93% over a 43 month term. |
| Drawdown 4 was issued on 13 December 2022 providing $400,000 at a fixed rate of interest of 16.89% over a 43 month term. |
| Drawdown 5 was issued on 23 March 2023 providing $450,000 at a fixed rate of interest of 16.77% over a 43 month term. |
| Drawdown 6 was issued in August 2023 providing $275,000 at a fixed interest rate of 17.49% over a 40 month term. |
| Drawdown 7 was issued in January 2024 providing $200,000 at a fixed interest rate of 14% over a 36 month term. |
| Drawdown 8 was issued in April 2024 providing $500,000 at a fixed interest rate of 15.19% over a 43 month term. |
| Drawdown 9 was issued in May 2024 providing $125,000 at a fixed interest rate of 15.19% over a 43 month term. |
| All 9 drawdowns were consolidated in August 2024 with a balance of $2,134,128.61 at a fixed interest rate of 14.24% over a 39 month term. |
| The SaaS capital loan is analysed at 30 June 2024 as to £364,216 due in less than one year and £1,371,917 due in more than one year. |
| A CBILS loan of £500,000 was issued in June 2021 from the Greater London Investment Fund. The loan is secured by a fixed and floating charge over the assets of the company. The Loan has a fixed interest rate of 9% and a term of 36 months. |
| The CBILS loan is analysed as to £20,838 due in less than one year. |
| The unsecured loans amounting to £550,000 are subordinated to the secured loans and are therefore due in more than one year.Interest is due at a fixed rate of 10% per annum. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30/6/24 | 30/6/23 |
| value: | £ | £ |
| Ordinary | 0.1p | 13,995 | 13,995 |
| Deferred | 0.1p | 1,000 | 1,000 |
| 14,995 | 14,995 |
| BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2024 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023: |
| 30/6/24 | 30/6/23 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 12. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of the exemptions available and therefore no related party transactions undertaken on normal commercial terms are disclosed. |