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Company Registration No. 08583711 (England and Wales)
PAYZEN Limited Unaudited accounts for the year ended 31 December 2024
PAYZEN Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
PAYZEN Limited Company Information for the year ended 31 December 2024
Director
Adekanmi Adedire
Company Number
08583711 (England and Wales)
Registered Office
72 Sunny Bank London SE25 4TG
- 3 -
PAYZEN Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
1,181,479 
1,252,782 
Current assets
Cash at bank and in hand
184,708 
73,250 
Creditors: amounts falling due within one year
5
(86,760)
(131,939)
Net current assets/(liabilities)
97,948 
(58,689)
Net assets
1,279,427 
1,194,093 
Capital and reserves
Called up share capital
1,592,299 
1,592,299 
Profit and loss account
(312,872)
(398,206)
Shareholders' funds
1,279,427 
1,194,093 
For the year ending 31 December 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 February 2024 and were signed on its behalf by
Adekanmi Adedire Director Company Registration No. 08583711
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PAYZEN Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
PAYZEN Limited is a private company, limited by shares, registered in England and Wales, registration number 08583711. The registered office is 72 Sunny Bank, London, SE25 4TG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 December 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2023. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 January 2024
66,000 
1,678,188 
1,744,188 
At 31 December 2024
66,000 
1,678,188 
1,744,188 
Amortisation
At 1 January 2024
49,500 
441,906 
491,406 
Charge for the year
16,500 
54,803 
71,303 
At 31 December 2024
66,000 
496,709 
562,709 
Net book value
At 31 December 2024
- 
1,181,479 
1,181,479 
At 31 December 2023
16,500 
1,236,282 
1,252,782 
- 5 -
PAYZEN Limited Notes to the Accounts for the year ended 31 December 2024
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
19,821 
- 
Other creditors
- 
50,000 
Loans from directors
66,189 
81,189 
Accruals
750 
750 
86,760 
131,939 
6
Average number of employees
During the year the average number of employees was 10 (2023: 6).
- 6 -