MIFFIPAY LTD

Company Registration Number:
15135694 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 13 September 2023

End date: 30 September 2024

MIFFIPAY LTD

Contents of the Financial Statements

for the Period Ended 30 September 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

MIFFIPAY LTD

Directors' report period ended 30 September 2024

The directors present their report with the financial statements of the company for the period ended 30 September 2024

Principal activities of the company

Dear Shareholders, this first year of activity has come to an end. You will therefore find in this report the Miffipay Ltd 30 September 2024, Financials. Those Financials have obviously no reference to previous years, and they have a simplified structure. This structure is essentially due to the fact that the Founder of the Company and the inventor of the various products and patents, contributed them to the Company and paid all costs related to its management up to the date of this balance sheet. After the initial phase where all the shares were held by the Founder himself, the majority (51%) of Miffipay Ltd was sold, at the double of the asset value to a Holding Company, namely The Tithe Value PLC in exchange for shares in the latter. In addition, a director and a technical employee received 5% of the company's shareholder equity. This first year saw a strong development in technology and innovation and the first product, the VISA debit card, ‘Spending 4 Change’, designed by MIffipay Ltd, on an Orenda Finance technology and having as issuer Monavate is already on the market and its available for download in all stores and for all European residents. It is a card specifically dedicated to the third sector, i.e. Associations and Foundations, as it allows a 1% donation to these Associations and Foundations, as a Cash Back on what the users spend. Technical improvements are currently being made on the “Spending 4 Change” product, mainly on the App, which, while it currently has only basic functions will soon, i.e. by December, have new functions, such as bill payment, P2P payments and exchanges, and full integration with Visa Direct. All these changes will have to be completed before the official launch of ‘Spending 4 Change’. A second product, ‘$piccioli’, is already in the MVP phase and in testing. It is a payment App dedicated to users who wish to receive as a donation, or for small services rendered, or in support of specific projects, small amounts usually given in coins. Now whose payment will be largely simplified, accounted for and managed by our ‘$piccioli’ App. ‘$piccioli’, which is scheduled to be launched around Christmas 2024, will be available worldwide without residence restrictions. A strong specialisation of Miffipay, to become a niche payment partner, especially for the third sector, i.e. donations, is thus emerging. In this direction is also Miffipay's new Debit Card for long-distance adoptions, ‘3 for good’. Miffipay also has the licence to sell in Italy a payment product for Public Administrations developed by Orenda, i.e. a Payment Technology for Payment Institutions (attached) Specific innovation also continued with the conception and filing of patents for new, unique and proprietary products. A patent was recently filed in the UK, which will be the subject of and used in a specific new product, for the use of videos with different content in payment procedures. Two other patents, one for customising the layout of payment systems and one for a messaging system related to the use of our specific App, are in the process of being filed. The income from all these products, already on the market or in the process of being launched, will bring turnover as early as the year 2025 and will allow us to be in breakeven within 24 months of the creation of the company. All of the above and all of the work that has been done has allowed Miffipay Ltd to be, after only one year, an operational company, with products on the market, without any debt and with commercial and operational agreements to make the issuance of proprietary and third-party payment products simple and fast, and to be a scalable project, and this without any major need for financial resources. Domenico Palladino Director



Directors

The director shown below has held office during the period of
4 June 2024 to 30 September 2024

Domenico Palladino


Secretary The Tithe Value PLC (former ROR Holdings PLC)

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
6 October 2024

And signed on behalf of the board by:
Name: The Tithe Value PLC (former ROR Holdings PLC)
Status: Secretary

MIFFIPAY LTD

Profit And Loss Account

for the Period Ended 30 September 2024

13 months to 30 September 2024


£
Turnover: 0
Cost of sales: 0
Gross profit(or loss): 0
Distribution costs: ( 15,000 )
Administrative expenses: ( 3,000 )
Other operating income: 0
Operating profit(or loss): (18,000)
Interest receivable and similar income: 0
Interest payable and similar charges: 0
Profit(or loss) before tax: (18,000)
Tax: 0
Profit(or loss) for the financial year: (18,000)

MIFFIPAY LTD

Balance sheet

As at 30 September 2024

Notes 13 months to 30 September 2024


£
Called up share capital not paid: 0
Fixed assets
Intangible assets: 3 746,000
Tangible assets: 4 4,000
Investments: 5 250,000
Total fixed assets: 1,000,000
Current assets
Stocks:   0
Debtors:   0
Cash at bank and in hand: 0
Investments:   0
Total current assets: 0
Prepayments and accrued income: 0
Creditors: amounts falling due within one year:   0
Net current assets (liabilities): 0
Total assets less current liabilities: 1,000,000
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): 1,000,000
Capital and reserves
Called up share capital: 1,000,000
Share premium account: 0
Other reserves: 0
Profit and loss account: 0
Total Shareholders' funds: 1,000,000

The notes form part of these financial statements

MIFFIPAY LTD

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 6 October 2024
and signed on behalf of the board by:

Name: Domenico Palladino
Status: Director

The notes form part of these financial statements

MIFFIPAY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

MIFFIPAY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    13 months to 30 September 2024
    Average number of employees during the period 0

MIFFIPAY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
Additions 746,000 746,000
Disposals
Revaluations
Transfers
At 30 September 2024 746,000 746,000
Amortisation
Charge for year
On disposals
Other adjustments
At 30 September 2024
Net book value
At 30 September 2024 746,000 746,000

MIFFIPAY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 4,000 4,000
Disposals
Revaluations
Transfers
At 30 September 2024 4,000 4,000
Depreciation
Charge for year
On disposals
Other adjustments
At 30 September 2024
Net book value
At 30 September 2024 4,000 4,000

MIFFIPAY LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Fixed assets investments note

Computers