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REGISTERED NUMBER: 09623838 (England and Wales)













Financial Statements

for the Period

1 October 2023 to 30 November 2024

for

Payments PML Limited

Payments PML Limited (Registered number: 09623838)






Contents of the Financial Statements
for the Period 1 October 2023 to 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Payments PML Limited

Company Information
for the Period 1 October 2023 to 30 November 2024







DIRECTORS: L J Borthwick
J R Jukes
H R M Clerey



REGISTERED OFFICE: 2nd Floor
41-51 Grey Street
Newcastle Upon Tyne
Tyne And Wear
NE1 6EE



REGISTERED NUMBER: 09623838 (England and Wales)



SENIOR STATUTORY AUDITOR: James Davies BSc Hons CA



AUDITORS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
Darlington
County Durham
DL3 7RT

Payments PML Limited (Registered number: 09623838)

Balance Sheet
30 November 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 5,953

CURRENT ASSETS
Debtors 5 5,395 102,870
Cash at bank and in hand 9,800 14,903
15,195 117,773
CREDITORS
Amounts falling due within one year 6 (225,142 ) (191,567 )
NET CURRENT LIABILITIES (209,947 ) (73,794 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(209,947

)

(67,841

)

CAPITAL AND RESERVES
Called up share capital 7 3 3
Retained earnings (209,950 ) (67,844 )
SHAREHOLDERS' FUNDS (209,947 ) (67,841 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Losses has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:





L J Borthwick - Director


Payments PML Limited (Registered number: 09623838)

Notes to the Financial Statements
for the Period 1 October 2023 to 30 November 2024

1. STATUTORY INFORMATION

Payments PML Limited is a private company, limited by shares , 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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

Going concern
The company ceased trading on 30 November 2024 and as a consequence the directors have prepared the financial statements on a basis other than going concern.

No adjustments were necessary to amounts included in these financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Any related party transactions were on commercial terms.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents commissions receivable from the provision of electronic payment services and sales of associated devices net of VAT. Turnover is attributable to the continuing principal activity of the company and arose wholly within the United Kingdom. Revenue is recognised on delivery of electronic payment services to customers.

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.

Software development is being amortised evenly over its estimated useful life of three years.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and cash balances.

All such instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, in which case the transaction is measured at the present value of the receipts discounted at a market rate of interest. All financial instruments are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, debt financial assets are assessed for impairment, and their carrying value reduced if necessary. Any impairment charge is recognised in the statement of comprehensive income.


Payments PML Limited (Registered number: 09623838)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 30 November 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Losses, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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 period 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 October 2023 8,559
Disposals (8,559 )
At 30 November 2024 -
AMORTISATION
At 1 October 2023 2,606
Amortisation for period 3,329
Eliminated on disposal (5,935 )
At 30 November 2024 -
NET BOOK VALUE
At 30 November 2024 -
At 30 September 2023 5,953

Payments PML Limited (Registered number: 09623838)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 30 November 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 45,525
Other debtors 5,395 3,102
Directors' current accounts - 51,993
Prepayments and accrued income - 2,250
5,395 102,870

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,321
Amounts owed to group undertakings - 169,881
Taxation and social security - 13,933
Other creditors 215,342 2,170
Accruals and deferred income 9,800 4,262
225,142 191,567

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12,549 Ordinary £1.2549 1 1
7,451 Ordinary B £0.7451 1 1
8,570 Ordinary C £0.857 1 1
3 3

8. AUDITOR'S INFORMATION

The report of the auditors was unqualified.

We draw attention to Note 2 to the financial statements which explains that the company ceased trading on 30 November 2024 and therefore, the directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern.

Our opinion is not modified in respect of this matter.

James Davies BSc Hons CA (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP.

Payments PML Limited (Registered number: 09623838)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 30 November 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 November 2024 and the year ended 30 September 2023:

2024 2023
£    £   
H R M Clerey
Balance outstanding at start of period 51,993 51,993
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 51,993

10. ULTIMATE CONTROLLING PARTY

The immediate and ultimate controlling party is Crosso (1470) Limited, The Spark, Draymans Way, Newcastle Helix, Newcastle Upon Tyne, NE4 5DE.