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REGISTERED NUMBER: 03925386 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2025

for

CFS-ZIPP LIMITED

CFS-ZIPP LIMITED (Registered number: 03925386)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


CFS-ZIPP LIMITED

Company Information
for the Year Ended 31 March 2025







DIRECTORS: Mrs U Venkatesh
Dr S Venkatesh
J Paramanathan
R Kannan





SECRETARY: Mrs U Venkatesh





REGISTERED OFFICE: 790 Uxbridge Road
Hayes
Middlesex
UB4 0RS





REGISTERED NUMBER: 03925386 (England and Wales)





AUDITORS: ACN Accountants
Chartered Certified Accountants &
Statutory Auditors
41 Orsett Road
Grays
Essex
RM17 5DS

CFS-ZIPP LIMITED (Registered number: 03925386)

Strategic Report
for the Year Ended 31 March 2025

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS
The company's principal activity during the period was e-money transactions and payment services. After signing the Voluntary undertaking on November 2023, CFS-Zipp Limited was diligently disbursing all the Client funds to the respective customers. The management is going through the audit and will resume the operation within the next financial year.

Future developments
CFS expects continued revenue growth across its existing market verticals and expansion into new markets and geographies going forward after a period of the successful completion of regulatory Audit.

PRINCIPAL RISKS AND UNCERTAINTIES
Risk management is an integral part of managing the business, and CFS formally maintains and reviews its
risk register on a regular basis. The Audit &Risk Committee of its principal, CFS Zipp Limited, meets
quarterly to ensure the correct procedures and policies are in place to adhere to the rules and regulations
of an Electronic Money Institution.

The company's principal risks and uncertainties are broadly grouped as regulator, financial assets, liquidity
risk and commercial/economic risk.

The company's regulatory risk is its compliance with applicable regulations for its activities. The risk
committee ensures the correct procedures and policies are in place to adhere to the rules and regulations
of an Electronic Money institution.

The Company’s provision of payment services in the EEA is regulated by the Financial Conduct Authority ("FCA"). in particular, the United Kingdom's Payment Services Regulations imposes potential liability on the Company for the conduct of its agents. There is a risk that failure by the Company or its agents to comply
with regulatory requirements could adversely impact CFS Zipp Limited through compensation to customers, settlements, penalties or other sanctions, or requirements to implement changes in the Company or the Company's agents’ business operations.

The Company manages these risks through its internal controls, anti-fraud programmes, an agent
acceptance programme, and on-going training for agents and staff.

The Financial Conduct Authority ("FCA") authorised CFS Zipp Limited as an Electronic Money Institution on 30th November 2007.

The rise in interest rates, the related collapse in private technology company valuations, and the cost-of-living crisis, together with the changes to online spending caused by the end of COVID-19 measures, have all
had an impact on the fintech industry and represent commercial/economic risks.

KEY PERFORMANCE INDICATORS
Turnover decreased by 79% from 2024 as we are not trading due the voluntary undertaking signed by us with FCA on 23.11.2023.

Administrative costs have decreased by 42% in proportion when compared to last year.

ON BEHALF OF THE BOARD:





Dr S Venkatesh - Director


24 June 2025

CFS-ZIPP LIMITED (Registered number: 03925386)

Report of the Directors
for the Year Ended 31 March 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of The principal activity of the company continued to be that of the following:

EMDAgency

CFS-Zipp provides services to companies within the UK and EU who wish to use our E-money License that allows them to transact with individuals and businesses within the UK. The services rendered by
Agents can include, but not limited to merchant solutions, e-wallets, e-vouchers and payment processing.

Compliance Services

CFS-Zipp also provides compliance services for an e-money or payment business. The service deals with all
aspects of compliance ranging from the on-boarding of clients/agents, undertaking relevant checks, applications to the FCA and the training of staff.

Technology Platform

CFS-Zipp provides easy to use technology platform/banking software to allow the quick and efficient delivery
of electronic money.

Results and dividends
The result for the year is set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Mrs U Venkatesh
Dr S Venkatesh

Other changes in directors holding office are as follows:

J Paramanathan - appointed 30 July 2024
R Kannan - appointed 31 July 2024

CHARITABLE DONATIONS
Charitable donation was given to the following organisation during the year to help the youth in education, heathy recreation and empowerment:

Charity Amount (£ )
Mitraseva 1,102


CFS-ZIPP LIMITED (Registered number: 03925386)

Report of the Directors
for the Year Ended 31 March 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Dr S Venkatesh - Director


24 June 2025

Report of the Independent Auditors to the Members of
CFS-ZIPP LIMITED

Opinion
We have audited the financial statements of CFS-ZIPP LIMITED (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
CFS-ZIPP LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
CFS-ZIPP LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Capability of the audit in detecting irregularities, including fraud

Based on our understanding of the company and industry, and through discussion with the directors and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, management bias in accounting estimates and judgemental areas of the financial statements such revenue and margin recognition on long-term contracts. Audit procedures performed by the engagement team included:

- Discussions with management and assessment of known or suspected instances of non-compliance
with laws and regulations and fraud; and

- Assessment of identified fraud risk factors; and

- identifying key contracts and confirming that all required procurement and tendering procedures have
been followed; and

- Performing analytical procedures to identify any unusual or unexpected relationships, including related
party transactions, that may indicate risks of material misstatement due to fraud; and

- Confirmation of related parties with management, and review of transactions throughout the period to
identify any previously undisclosed transactions with related parties outside the normal course of
business; and

- Reading minutes of meetings of those charged with governance, reviewing internal audit reports and
reviewing correspondence with relevant tax and regulatory authorities; and

- Review of significant and unusual transactions and evaluation of the underlying financial rationale
supporting the transactions; and

- Identifying and testing journal entries, in particular any manual entries made at the year end for
financial statement preparation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud
or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that
is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an opinion of the
effectiveness of the Company's internal control.

Report of the Independent Auditors to the Members of
CFS-ZIPP LIMITED


- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we
conclude that a material uncertainty exists, we are required to draw attention in our Auditors' report to
the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors'
report. However, future events or conditions may cause the Company to cease to continue as a going
concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events in a
manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Anwar F Chowdhury FCCA (Senior Statutory Auditor)
for and on behalf of ACN Accountants
Chartered Certified Accountants &
Statutory Auditors
41 Orsett Road
Grays
Essex
RM17 5DS

24 June 2025

CFS-ZIPP LIMITED (Registered number: 03925386)

Income Statement
for the Year Ended 31 March 2025

31.3.25 31.3.24
Notes £    £   

TURNOVER 544,891 2,633,407

Cost of sales 126,624 1,284,774
GROSS PROFIT 418,267 1,348,633

Administrative expenses 921,189 1,583,714
OPERATING LOSS 4 (502,922 ) (235,081 )

Interest receivable and similar income 14 19
LOSS BEFORE TAXATION (502,908 ) (235,062 )

Tax on loss 5 - (4,731 )
LOSS FOR THE FINANCIAL YEAR (502,908 ) (230,331 )

CFS-ZIPP LIMITED (Registered number: 03925386)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £   
CURRENT ASSETS
Debtors 6 3,295,747 3,674,054
Investments 7 169,790 175,489
Cash at bank 278,240 366,661
3,743,777 4,216,204
CREDITORS
Amounts falling due within one year 8 45,723 15,242
NET CURRENT ASSETS 3,698,054 4,200,962
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,698,054

4,200,962

CAPITAL AND RESERVES
Called up share capital 9 6,000,000 6,000,000
Retained earnings (2,301,946 ) (1,799,038 )
SHAREHOLDERS' FUNDS 3,698,054 4,200,962

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:





Dr S Venkatesh - Director


CFS-ZIPP LIMITED (Registered number: 03925386)

Statement of Changes in Equity
for the Year Ended 31 March 2025

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2023 6,000,000 (1,568,707 ) 4,431,293

Changes in equity
Total comprehensive income - (230,331 ) (230,331 )
Balance at 31 March 2024 6,000,000 (1,799,038 ) 4,200,962

Changes in equity
Total comprehensive income - (502,908 ) (502,908 )
Balance at 31 March 2025 6,000,000 (2,301,946 ) 3,698,054

CFS-ZIPP LIMITED (Registered number: 03925386)

Cash Flow Statement
for the Year Ended 31 March 2025

31.3.25 31.3.24
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (94,134 ) (316,465 )
Tax paid - (18,796 )
Net cash from operating activities (94,134 ) (335,261 )

Cash flows from investing activities
Purchase of intangible fixed assets - (38,127 )
Purchase of investments 5,699 2,415
Sale of intangible fixed assets - 404,516
Interest received 14 19
Net cash from investing activities 5,713 368,823

(Decrease)/increase in cash and cash equivalents (88,421 ) 33,562
Cash and cash equivalents at
beginning of year

2

366,661

333,099

Cash and cash equivalents at end of
year

2

278,240

366,661

CFS-ZIPP LIMITED (Registered number: 03925386)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2025

1. RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.25 31.3.24
£    £   
Loss before taxation (502,908 ) (235,062 )
Depreciation charges - 137,474
Finance income (14 ) (19 )
(502,922 ) (97,607 )
Decrease in trade and other debtors 378,307 780,107
Increase/(decrease) in trade and other creditors 30,481 (998,965 )
Cash generated from operations (94,134 ) (316,465 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025
31.3.25 1.4.24
£    £   
Cash and cash equivalents 278,240 366,661
Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 366,661 333,099


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24 Cash flow At 31.3.25
£    £    £   
Net cash
Cash at bank 366,661 (88,421 ) 278,240
366,661 (88,421 ) 278,240

Liquid resources
Current asset investments 175,489 (5,699 ) 169,790
175,489 (5,699 ) 169,790
Total 542,150 (94,120 ) 448,030

CFS-ZIPP LIMITED (Registered number: 03925386)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

CFS-ZIPP LIMITED 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

CFS-ZIPP LIMITED (Registered number: 03925386)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the
company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The company has made a voluntary undertaking and has agreed with the Financial Conduct Authority, that it will not engage in the activities listed below without their prior written consent;

Take receipt of any new funds connected to the services it is currently registered to provide under
FRN 900027 as an Authorised Electronic Money Institution (as that term is defined under the
Electronic Money Regulations 2011 (the “EMRs”)), which includes new funds connected to the
issuance of electronic money (as defined in regulation 2(1) of the EMRs) or payment services (as defined in regulation 2(1) of the Payment Services Regulations 2017 (the “PSRs”).

Onboard any new agents or customers (where 'onboarding' means entering into a new business relationship with a legal or natural person under which payment sen/ices (as defined in regulation
2(1) of the PSRs).

Despite of the Company not receiving income in respect of the above income streams, the directors
are certain that income generated from other service line is sufficient for the company to continue trading at least 12 months from the approval of the accounts.

The company has obtained confirmation of financial support, should it require, from its parent company, St George's BK Ltd.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

31.3.25 31.3.24
£    £   
Directors' remuneration - -

4. OPERATING LOSS

The operating loss is stated after charging:

31.3.25 31.3.24
£    £   
Depreciation - owned assets - 69,885
Computer software amortisation - 67,589

5. TAXATION

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
31.3.25 31.3.24
£    £   
Deferred tax - (4,731 )
Tax on loss - (4,731 )

CFS-ZIPP LIMITED (Registered number: 03925386)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 120,450 106,386
Amounts owed by group undertakings 886,042 1,011,613
Other debtors 2,259,382 2,535,654
Prepayments and accrued income 29,873 20,401
3,295,747 3,674,054

7. CURRENT ASSET INVESTMENTS
31.3.25 31.3.24
£    £   
Unlisted investments 169,790 175,489

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade creditors 27,535 10,145
Social security and other taxes 13,188 -
Accrued expenses 5,000 5,097
45,723 15,242

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.25 31.3.24
value: £    £   
6,000,000 Ordinary £1 6,000,000 6,000,000

CFS-ZIPP LIMITED (Registered number: 03925386)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

10. RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with related parties:

Name of related party Nature of relationship
Entities with control, joint control or
significant influence over the company


Parent
Other related parties Entity controlled by Key management personnel 1
Other related parties Entity controlled by Key management personnel 2
Other related parties Entity controlled by Key management personnel 3




Description of
Transaction

Income


Expenses
2025 2024 2025 2024
£ £ £ £
Entities with control,
joint control or
significant influence
over the company


Management
Charge



-



-






480,000



810,000
Other related
parties

Expenses


132,000
Other related
parties

Expenses


11,938
Other related
parties

Income/Expense

100,000

1,113,586


1,108,611

Balance with Related Parties




Amount Owed by
related parties


Amount Owed
by related
parties
2025 2024 2025 2024
£ £ £ £
Entities with control, joint
control or significant influence
over the company




11,269


825,302




-


-
Other related parties 515,018 - 56,866

Other related parties


13,540


-

6,358
Other related parties 86,310 86,310
Other related parties 259,905 163,225

11. ULTIMATE CONTROLLING PARTY

The parent company is St George's BK Ltd, which holds 100% share capital in the company.

The ultimate controlling party is Dr S Venkatesh.

12. CLIENT MONEY

Money held on behalf of Client as at 31st March 2025 amounted to GBP 5,548 (2024 : 3,759,281), EUR 2,385,118 (2024 : 8,519,226).