2023-01-012023-12-312023-12-31false12814340HEIDI PAY LTD2024-06-20iso4217:GBPxbrli:pure128143402023-01-01128143402023-12-31128143402023-01-012023-12-31128143402022-01-01128143402022-12-31128143402022-01-012022-12-3112814340bus:SmallEntities2023-01-012023-12-3112814340bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3112814340bus:FullAccounts2023-01-012023-12-3112814340bus:PrivateLimitedCompanyLtd2023-01-012023-12-3112814340core:WithinOneYear2023-12-3112814340core:AfterOneYear2023-12-3112814340core:WithinOneYear2022-12-3112814340core:AfterOneYear2022-12-3112814340core:ShareCapital2023-12-3112814340core:SharePremium2023-12-3112814340core:RevaluationReserve2023-12-3112814340core:OtherReservesSubtotal2023-12-3112814340core:RetainedEarningsAccumulatedLosses2023-12-3112814340core:ShareCapital2022-12-3112814340core:SharePremium2022-12-3112814340core:RevaluationReserve2022-12-3112814340core:OtherReservesSubtotal2022-12-3112814340core:RetainedEarningsAccumulatedLosses2022-12-3112814340core:LandBuildings2023-12-3112814340core:PlantMachinery2023-12-3112814340core:Vehicles2023-12-3112814340core:FurnitureFittings2023-12-3112814340core:OfficeEquipment2023-12-3112814340core:NetGoodwill2023-12-3112814340core:IntangibleAssetsOtherThanGoodwill2023-12-3112814340core:ListedExchangeTraded2023-12-3112814340core:UnlistedNon-exchangeTraded2023-12-3112814340core:LandBuildings2022-12-3112814340core:PlantMachinery2022-12-3112814340core:Vehicles2022-12-3112814340core:FurnitureFittings2022-12-3112814340core:OfficeEquipment2022-12-3112814340core:NetGoodwill2022-12-3112814340core:IntangibleAssetsOtherThanGoodwill2022-12-3112814340core:ListedExchangeTraded2022-12-3112814340core:UnlistedNon-exchangeTraded2022-12-3112814340core:LandBuildings2023-01-012023-12-3112814340core:PlantMachinery2023-01-012023-12-3112814340core:Vehicles2023-01-012023-12-3112814340core:FurnitureFittings2023-01-012023-12-3112814340core:OfficeEquipment2023-01-012023-12-3112814340core:NetGoodwill2023-01-012023-12-3112814340core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112814340core:ListedExchangeTraded2023-01-012023-12-3112814340core:UnlistedNon-exchangeTraded2023-01-012023-12-3112814340core:MoreThanFiveYears2023-01-012023-12-3112814340core:Non-currentFinancialInstruments2023-12-3112814340core:Non-currentFinancialInstruments2022-12-3112814340dpl:CostSales2023-01-012023-12-3112814340dpl:DistributionCosts2023-01-012023-12-3112814340core:LandBuildings2023-01-012023-12-3112814340core:PlantMachinery2023-01-012023-12-3112814340core:Vehicles2023-01-012023-12-3112814340core:FurnitureFittings2023-01-012023-12-3112814340core:OfficeEquipment2023-01-012023-12-3112814340dpl:AdministrativeExpenses2023-01-012023-12-3112814340core:NetGoodwill2023-01-012023-12-3112814340core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112814340dpl:GroupUndertakings2023-01-012023-12-3112814340dpl:ParticipatingInterests2023-01-012023-12-3112814340dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3112814340core:ListedExchangeTraded2023-01-012023-12-3112814340dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3112814340core:UnlistedNon-exchangeTraded2023-01-012023-12-3112814340dpl:CostSales2022-01-012022-12-3112814340dpl:DistributionCosts2022-01-012022-12-3112814340core:LandBuildings2022-01-012022-12-3112814340core:PlantMachinery2022-01-012022-12-3112814340core:Vehicles2022-01-012022-12-3112814340core:FurnitureFittings2022-01-012022-12-3112814340core:OfficeEquipment2022-01-012022-12-3112814340dpl:AdministrativeExpenses2022-01-012022-12-3112814340core:NetGoodwill2022-01-012022-12-3112814340core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3112814340dpl:GroupUndertakings2022-01-012022-12-3112814340dpl:ParticipatingInterests2022-01-012022-12-3112814340dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3112814340core:ListedExchangeTraded2022-01-012022-12-3112814340dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3112814340core:UnlistedNon-exchangeTraded2022-01-012022-12-3112814340core:NetGoodwill2023-12-3112814340core:IntangibleAssetsOtherThanGoodwill2023-12-3112814340core:LandBuildings2023-12-3112814340core:PlantMachinery2023-12-3112814340core:Vehicles2023-12-3112814340core:FurnitureFittings2023-12-3112814340core:OfficeEquipment2023-12-3112814340core:AfterOneYear2023-12-3112814340core:WithinOneYear2023-12-3112814340core:ListedExchangeTraded2023-12-3112814340core:UnlistedNon-exchangeTraded2023-12-3112814340core:ShareCapital2023-12-3112814340core:SharePremium2023-12-3112814340core:RevaluationReserve2023-12-3112814340core:OtherReservesSubtotal2023-12-3112814340core:RetainedEarningsAccumulatedLosses2023-12-3112814340core:NetGoodwill2022-12-3112814340core:IntangibleAssetsOtherThanGoodwill2022-12-3112814340core:LandBuildings2022-12-3112814340core:PlantMachinery2022-12-3112814340core:Vehicles2022-12-3112814340core:FurnitureFittings2022-12-3112814340core:OfficeEquipment2022-12-3112814340core:AfterOneYear2022-12-3112814340core:WithinOneYear2022-12-3112814340core:ListedExchange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HEIDI PAY LTD

Registered Number
12814340
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

HEIDI PAY LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

BOZZO, Matteo
STEAD, Alistair

Registered Address

124 City Road
London
EC1V 2NX

Registered Number

12814340 (England and Wales)
HEIDI PAY LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets33,294,2101,762,214
Tangible assets431,56728,379
3,325,7771,790,593
Current assets
Debtors803,311167,102
Cash at bank and on hand92,583534,744
895,894701,846
Creditors amounts falling due within one year5(432,112)(161,976)
Net current assets (liabilities)463,782539,870
Total assets less current liabilities3,789,5592,330,463
Creditors amounts falling due after one year6(7,507,175)(4,538,202)
Net assets(3,717,616)(2,207,739)
Capital and reserves
Called up share capital275,100275,100
Profit and loss account(3,992,716)(2,482,839)
Shareholders' funds(3,717,616)(2,207,739)
The financial statements were approved and authorised for issue by the Board of Directors on 20 June 2024, and are signed on its behalf by:
BOZZO, Matteo
Director
Registered Company No. 12814340
HEIDI PAY LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
The company classifies its primary intangible asset as a computer software platform designed for loan generation and management within the Buy Now Pay Later market. This software, being internally developed, is recognised as an intangible asset when it meets the criteria set out in FRS 102, Section 18. The software platform, tailored for loan generation and management in the Buy Now Pay Later sector, is measured initially at its cost. This cost encapsulates all directly attributable expenditures incurred during its creation and preparation to ensure it's operationally ready. Amortisation is provided for over 10 years. At each reporting date, an assessmentis made as to whether there are any indications that an asset may be impaired. These indications can be from external or internal sources of information.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment5
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20232022
Average number of employees during the year2112
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 231,958,5841,958,584
Additions1,848,5681,848,568
At 31 December 233,807,1523,807,152
Amortisation and impairment
At 01 January 23196,370196,370
Charge for year316,572316,572
At 31 December 23512,942512,942
Net book value
At 31 December 233,294,2103,294,210
At 31 December 221,762,2141,762,214
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 January 232,96635,68338,649
Additions20714,74014,947
At 31 December 233,17350,42353,596
Depreciation and impairment
At 01 January 231,1899,08110,270
Charge for year61411,14511,759
At 31 December 231,80320,22622,029
Net book value
At 31 December 231,37030,19731,567
At 31 December 221,77726,60228,379
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables152,13723,741
Taxation and social security258,042135,667
Other creditors5,1892,568
Accrued liabilities and deferred income16,744-
Total432,112161,976
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2023

2022

££
Amounts owed to related parties7,507,1754,538,202
Total7,507,1754,538,202
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
BOZZO, Matteo08770877
08770877