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Registered number: 08441319
Pay Here Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 08441319
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 351,068 260,364
Tangible Assets 5 23,027 26,911
374,095 287,275
CURRENT ASSETS
Debtors 6 137,364 191,122
Cash at bank and in hand 185,399 168,801
322,763 359,923
Creditors: Amounts Falling Due Within One Year 7 (354,096 ) (275,170 )
NET CURRENT ASSETS (LIABILITIES) (31,333 ) 84,753
TOTAL ASSETS LESS CURRENT LIABILITIES 342,762 372,028
Creditors: Amounts Falling Due After More Than One Year 8 (151,042 ) -
NET ASSETS 191,720 372,028
CAPITAL AND RESERVES
Called up share capital 10 154 152
Share premium account 616,437 616,437
Profit and Loss Account (424,871 ) (244,561 )
SHAREHOLDERS' FUNDS 191,720 372,028
Page 1
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For the year ending 31 March 2025 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 directors acknowledge their 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 D J Evans
Director
5 August 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pay Here Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08441319 . The registered office is Yew Tree House, Lewes Road, Forest Row, East Sussex, RH18 5AA.
The company's principal activity continues to be that of the provision of online administration software.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to the profit and loss account on a straight line basis over their expected useful economic lives, which has been estimated at 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
Office Equipment 25% reducing balance
2.5. 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.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 39 (2024: 30)
39 30
4. Intangible Assets
Goodwill Software Development Total
£ £ £
Cost
As at 1 April 2024 75,000 1,317,643 1,392,643
Additions - 219,130 219,130
As at 31 March 2025 75,000 1,536,773 1,611,773
Amortisation
As at 1 April 2024 75,000 1,057,279 1,132,279
Provided during the period - 128,426 128,426
As at 31 March 2025 75,000 1,185,705 1,260,705
Net Book Value
As at 31 March 2025 - 351,068 351,068
As at 1 April 2024 - 260,364 260,364
5. Tangible Assets
Fixtures & Fittings Office Equipment Total
£ £ £
Cost
As at 1 April 2024 1,700 62,185 63,885
Additions - 3,792 3,792
As at 31 March 2025 1,700 65,977 67,677
Depreciation
As at 1 April 2024 1,397 35,577 36,974
Provided during the period 76 7,600 7,676
As at 31 March 2025 1,473 43,177 44,650
Net Book Value
As at 31 March 2025 227 22,800 23,027
As at 1 April 2024 303 26,608 26,911
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6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 10,393 7,384
Other debtors 126,971 183,738
137,364 191,122
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 98,984 59,309
Bank loans and overdrafts 62,500 -
Other creditors 39,347 54,247
Taxation and social security 153,265 161,614
354,096 275,170
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 151,042 -
9. Loans
An analysis of the maturity of loans is given below:
2025 2024
£ £
Amounts falling due within one year or on demand:
Bank loans 62,500 -
2025 2024
£ £
Amounts falling due between one and five years:
Bank loans 151,042 -
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 154 152
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11. Directors Advances, Credits and Guarantees
Included in other debtors due within one year are loans to the directors, Mr D Evans amounting to £65,941 (2024 - £60,766), Mr S Leefe amounting to £1 (2024 - £NIL), and Mr R Mason amounting to £1 (2024 - £NIL).
Interest has been charged at the H.M. Revenue and Customs official rate.
12. Controlling Parties
The company's controlling party is Mr D Evans by virtue of their interest in the share capital of the company.
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