PAY CHECK LIMITED - Filleted accounts

Registered number

03095870

PAY CHECK LIMITED

Filleted Accounts

31 March 2025

PAY CHECK LIMITED
Registered number:		03095870
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		-			21,382
Tangible assets	4		127,936			205,896
			127,936			227,278

Current assets
Debtors	5	2,943,549			2,101,556
Cash at bank and in hand		5,679,670			5,668,640
		8,623,219			7,770,196

Creditors: amounts falling due within one year	6	(5,773,377)			(5,354,336)

Net current assets			2,849,842			2,415,860

Total assets less current liabilities			2,977,778			2,643,138

Creditors: amounts falling due after more than one year	7		(12,887)			(54,537)

Provisions for liabilities			(32,207)			(32,207)


Net assets			2,932,684			2,556,394

Capital and reserves
Called up share capital			30,600			30,600
Profit and loss account			2,902,084			2,525,794

Shareholder's funds			2,932,684			2,556,394

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



B V Ramamoorthy
Director
Approved by the board on 18 November 2025

PAY CHECK LIMITED
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The financial statements have been prepared in compliance with Section 1A of FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

	Revenue recognition
	Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and value added tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

	Goodwill
	Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

	Amortisation
	Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows :

	Goodwill	In equal instalments over its estimated economic life of 10
		years

	If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

	Tangible assets
	Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulative depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.


	Depreciation
	Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery		over 4 - 5 years
	Fixtures and fittings		over 4 - 5 years
	Equipment		over 4 - 5 years

	Impairment of fixed assets
	A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated when such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is , from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

	Taxation
	The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount of tax expected to pay or recover using the tax rates and laws that have been enacted or substantially enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

	Provisions
	Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.



	Financial instruments
	A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversal of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


2	Employees				2025		2024
Number						Number

	Average number of persons employed by the company				41		41


3	Intangible fixed assets						£
	Goodwill:

	Cost
	At 1 April 2024						358,383
	At 31 March 2025						358,383

	Amortisation
	At 1 April 2024						337,001
	Provided during the year						21,382
	At 31 March 2025						358,383

	Net book value
	At 31 March 2025						-
	At 31 March 2024						21,382

	Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.


4	Tangible fixed assets
			Plant and machinery		Fixtures, fittings & equipment		Total
£				£		£
	Cost
	At 1 April 2024		76,598		999,512		1,076,110
	Additions		-		31,832		31,832
	Other movements		-		(49,998)		(49,998)
	At 31 March 2025		76,598		981,346		1,057,944

	Depreciation
	At 1 April 2024		76,598		793,616		870,214
	Charge for the year		-		59,794		59,794
	At 31 March 2025		76,598		853,410		930,008

	Net book value
	At 31 March 2025		-		127,936		127,936
	At 31 March 2024		-		205,896		205,896


5	Debtors				2025		2024
£						£

	Trade debtors				276,657		297,413
	Amounts owed by group undertakings and undertakings in which the company has a participating interest				2,578,124		1,740,000
	Other debtors				88,768		64,143
					2,943,549		2,101,556


6	Creditors: amounts falling due within one year				2025		2024
£						£

	Trade creditors				185,726		171,452
	Taxation and social security costs				280,381		223,890
	Other creditors				5,307,270		4,958,994
					5,773,377		5,354,336


7	Creditors: amounts falling due after one year				2025		2024
£						£

	Other creditors				12,887		54,537






8	Controlling party

	In the opinion of the directors, the ultimate holding company is Briley HR Holdings Limited, incorporated in Gibraltar.


9	Other information

	PAY CHECK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	First Floor
	Battersea Studios 2
	82 Silverthorne Road
	London
	SW8 3HE