Registration number: 13599789

The Payments Practice Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

The Payments Practice Limited

Company Information

Director

Mr A Quirke

Registered office

Fawley House 2 Regatta Place Marlow Road Bourne End Buckinghamshire SL8 5TD

Accountants

Sterling Grove Accountants Limited Chartered Certified AccountantsFawley House 2 Regatta Place Marlow Road Bourne End Buckinghamshire SL8 5TD

The Payments Practice Limited

(Registration number: 13599789)
Balance Sheet as at 28 February 2025

	Note	2025 £	2023 £
Fixed assets
Tangible assets	4	-	5,478
Current assets
Debtors	5	11,010	76,873
Cash at bank and in hand		4,013	5,108
		15,023	81,981
Creditors: Amounts falling due within one year	6	(49,079)	(27,363)
Net current (liabilities)/assets		(34,056)	54,618
Net (liabilities)/assets		(34,056)	60,096
Capital and reserves
Called up share capital		3	3
Retained earnings		(34,059)	60,093
Shareholders' (deficit)/funds		(34,056)	60,096

For the financial period ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 September 2025
 

......................................... Mr A Quirke Director

The Payments Practice Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House 2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
United Kingdom

These financial statements were authorised for issue by the director on 22 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company made a loss in the financial year, however the director has arranged adequate funding to finance the company's continuing activities and to enable it to pay its debts as and when they fall due for payment, and accordingly they consider that the company is a going concern and thus the financial statements have been prepared on this basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

The Payments Practice Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 28 February 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture and fixtures	20% straight line
Office equipment	33.33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

The Payments Practice Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 28 February 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 3).

The Payments Practice Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 28 February 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 October 2023	9,548	9,548
Additions	340	340
Disposals	(9,888)	(9,888)
At 28 February 2025	-	-
Depreciation
At 1 October 2023	4,070	4,070
Charge for the period	3,955	3,955
Eliminated on disposal	(8,025)	(8,025)
At 28 February 2025	-	-
Carrying amount
At 28 February 2025	-	-
At 30 September 2023	5,478	5,478

5

Debtors

Current	Note	2025 £	2023 £
Amounts owed by related parties	7	-	69,669
Prepayments		-	315
Other debtors		11,010	6,889
		11,010	76,873

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2023 £
Due within one year
Trade creditors	1,742	5,018
Taxation and social security	-	19,213
Accruals and deferred income	869	3,132
Other creditors	46,468	-
	49,079	27,363

The Payments Practice Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 28 February 2025

7	Related party transactions

Transactions with the director

2025	At 1 October 2023 £	Repayments by director £	At 28 February 2025 £
Mr A Quirke
Advance	34,887	(34,887)	-

2023	At 1 October 2022 £	Advances to director £	Repayments by director £	At 30 September 2023 £
Mr A Quirke
Advance	75,566	103,151	(143,830)	34,887

Loans to related parties

2025	Other related parties £	Total £
At start of period	34,782	34,782
Advanced	11,000	11,000
Repaid	(46,497)	(46,497)
Interest transactions	715	715
At end of period	-	-

2023	Other related parties £	Total £
At start of period	77,548	77,548
Advanced	74,350	74,350
Repaid	(118,297)	(118,297)
Interest transactions	1,181	1,181
At end of period	34,782	34,782

Terms of loans to related parties

Loan is unsecured, repayable on demand and interest is charged at 2.25%.