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REGISTERED NUMBER: 11347482 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Finsei Ltd

Previously known as
Altpay Ltd

Finsei Ltd (Registered number: 11347482)
previously known as Altpay Ltd






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Finsei Ltd
previously known as Altpay Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A Dozorcevs
A Munawar





REGISTERED OFFICE: Office 3.8
3 Lloyds Avenue
London
EC3N 3DS





REGISTERED NUMBER: 11347482 (England and Wales)





AUDITORS: MGA Accountants LLP
3rd Floor, Sovereign House
1 Albert Place
London
N3 1QB

Finsei Ltd (Registered number: 11347482)
previously known as Altpay Ltd

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes €    €    €    €   
FIXED ASSETS
Tangible assets 4 19,537 23,324

CURRENT ASSETS
Debtors 5 589,641 467,000
Cash at bank and in hand 455,121 177,846
1,044,762 644,846
CREDITORS
Amounts falling due within one year 6 94,812 66,019
NET CURRENT ASSETS 949,950 578,827
TOTAL ASSETS LESS CURRENT
LIABILITIES

969,487

602,151

CAPITAL AND RESERVES
Called up share capital 350,643 350,643
Retained earnings 618,844 251,508
969,487 602,151

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 May 2025 and were signed on its behalf by:





A Dozorcevs - Director


Finsei Ltd (Registered number: 11347482)
previously known as Altpay Ltd

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Finsei Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Finsei Ltd (Registered number: 11347482)
previously known as Altpay Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
€   
COST
At 1 June 2023 43,726
Additions 6,198
At 31 May 2024 49,924
DEPRECIATION
At 1 June 2023 20,402
Charge for year 9,985
At 31 May 2024 30,387
NET BOOK VALUE
At 31 May 2024 19,537
At 31 May 2023 23,324

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
€    €   
Other debtors 589,641 467,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
€    €   
Taxation and social security 36,992 1,153
Other creditors 57,820 64,866
94,812 66,019

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mital Gandhi (Senior Statutory Auditor)
for and on behalf of MGA Accountants LLP

8. RELATED PARTY DISCLOSURES

As at the period end an amount of Euro 6,939 (2023 - Euro 3,603) was owed to the director, Mr. Artjoms Dozorcevs. This amount is included within creditors due within one year.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Dozorcevs.