REGISTERED NUMBER: 05776010 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST FEBRUARY 2024 TO 31ST DECEMBER 2024

FOR

PAYONOMY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N S Chaffe

J A E Smith

M P Birke

J Gasteen

REGISTERED OFFICE:

2 The Links

Herne Bay

Kent

CT6 7GQ

REGISTERED NUMBER:

05776010 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

2 The Links

HERNE BAY

Kent

CT6 7GQ

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

926

2,340

Investments

7

-

500

926

2,840

CURRENT ASSETS

Debtors

8

355,952

313,283

Cash at bank

572,906

675,205

928,858

988,488

CREDITORS

Amounts falling due within one year

9

1,404,670

1,078,185

NET CURRENT LIABILITIES

(475,812

)

(89,697

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(474,886

)

(86,857

)

CREDITORS

Amounts falling due after more than one year

10

-

27,520

NET LIABILITIES

(474,886

)

(114,377

)

CAPITAL AND RESERVES

Called up share capital

1,250

1,000

Share premium

20,986

-

Retained earnings

(497,122

)

(115,377

)

SHAREHOLDERS' FUNDS

(474,886

)

(114,377

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st August 2025 and were signed on its behalf by:

M P Birke - Director

1.	STATUTORY INFORMATION

Payonomy 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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.

Turnover

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

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 a straight line basis

Fixtures and fittings

-

20% on reducing balance

Taxation

Taxation for the period 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.

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.

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 trading result of the company for the financial period was considered positive. New business growth was strong in the year. Due to the nature of the licenses being issued, the revenue is deferred across the licence term, which is typically 12 months. Whilst the operating position of the company appears insolvent, current liabilities includes a large value of deferred income, for which there is no obligation to repay, as the licence fees are non-refundable once issued. When considered, looking at the net liability as stated and knowledge of this position with deferred income, current assets are more than sufficient to meet current liabilities as they fall due. For this reason, the Directors believe the going concern basis of accounting is appropriate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2024 - 9 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st February 2024

33,334

Disposals

(33,334

)

At 31st December 2024

-

AMORTISATION

At 1st February 2024

33,334

Eliminated on disposal

(33,334

)

At 31st December 2024

-

NET BOOK VALUE

At 31st December 2024

-

At 31st January 2024

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1st February 2024

30,588

344

30,932

Additions

1,099

-

1,099

Disposals

-

(344

)

(344

)

At 31st December 2024

31,687

-

31,687

DEPRECIATION

At 1st February 2024

28,340

252

28,592

Charge for period

2,421

92

2,513

Eliminated on disposal

-

(344

)

(344

)

At 31st December 2024

30,761

-

30,761

NET BOOK VALUE

At 31st December 2024

926

-

926

At 31st January 2024

2,248

92

2,340

7.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st February 2024

500

Disposals

(500

)

At 31st December 2024

-

NET BOOK VALUE

At 31st December 2024

-

At 31st January 2024

500

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Trade debtors

253,852

264,340

Other debtors

102,100

48,943

355,952

313,283

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Bank loans and overdrafts (see note 11)

-

10,017

Other loans (see note 11)

-

50,000

Trade creditors

9,460

47,812

Amounts owed to group undertakings

231,683

-

Social security and other taxes

21,454

24,813

VAT

41,845

46,839

Other creditors

6,433

4,678

Accruals

109,824

82,966

Deferred income

983,971

811,060

1,404,670

1,078,185

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2024

£

£

Bank loans (see note 11)

-

27,520

11.

LOANS

An analysis of the maturity of loans is given below:

2024

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

-

10,017

Other loans

-

50,000

-

60,017

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

10,187

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

17,333