Payphase Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 02226380

Payphase Limited

Filleted Unaudited Financial Statements

31 July 2020

Payphase Limited

Statement of Financial Position

31 July 2020

	2020		2019
Note	£	£	£

Current assets

Debtors	4	5,320,510	5,320,510
Cash at bank and in hand		208,298	209,163
		------------	------------
		5,528,808	5,529,673

Creditors: amounts falling due within one year	5	4,747,247		4,747,057
		------------		------------
Net current assets			781,561	782,616
			---------	---------
Total assets less current liabilities			781,561	782,616
			---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	781,559	782,614
	---------	---------
Shareholders funds	781,561	782,616
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 26 October 2021 , and are signed on behalf of the board by:

S Friedman

Director

Company registration number: 02226380

Payphase Limited

Notes to the Financial Statements

Year ended 31 July 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Debtors

	2020	2019
	£	£
Other debtors	5,320,510	5,320,510
	------------	------------

5. Creditors: amounts falling due within one year

	2020	2019
	£	£
Loan creditors	4,714,301	4,714,301
Sundry creditors and accruals	32,946	32,756
	------------	------------
	4,747,247	4,747,057
	------------	------------