REGISTERED NUMBER: 08217352 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TRANSACT PAYMENTS SERVICES LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Directors:

G W D'Arcy

A C Carpenter

A M Travis-Matthams

Secretary:

Birketts Secretaries Limited

Registered office:

C/O Birketts Llp

One London Wall

Barbican

London

England

EC2Y 5EA

Registered number:

08217352 (England and Wales)

Accountants:

Vistra Trust Company Limited

First Floor, Templeback

10 Temple back

Bristol

BS1 6FL

FIXED ASSETS

Intangible assets

4

4,376

7,140

Tangible assets

5

624

111

5,000

7,251

CURRENT ASSETS

Debtors

6

56,777

34,999

Cash at bank

223,749

120,904

280,526

155,903

CREDITORS

Amounts falling due within one year

7

(109,919

)

(36,831

)

NET CURRENT ASSETS

170,607

119,072

TOTAL ASSETS LESS CURRENT LIABILITIES

175,607

126,323

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

175,606

126,322

SHAREHOLDERS' FUNDS

175,607

126,323

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 25 September 2025 and were signed on its behalf by:

A C Carpenter - Director

1.	STATUTORY INFORMATION

Transact Payments Services 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.

The company's functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents amounts charged to the inter-group companies under agreements for marketing and other services provided, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

Intangible assets

Software acquired separately from a business is recognised at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Software Licenses: 3 years straight line basis.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each assets over its estimated useful life.

Plant and machinery: 3 - 6 years straight line basis.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 that have been enacted or substantively enacted by the balance sheet date.

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.

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 5 (2023 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

Cost

At 1 January 2024

and 31 December 2024

7,140

Amortisation

Charge for year

2,764

At 31 December 2024

2,764

Net book value

At 31 December 2024

4,376

At 31 December 2023

7,140

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 January 2024

121

Additions

664

At 31 December 2024

785

Depreciation

At 1 January 2024

10

Charge for year

151

At 31 December 2024

161

Net book value

At 31 December 2024

624

At 31 December 2023

111

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Amounts owed by group undertakings

48,604

28,569

Other debtors

8,173

6,430

56,777

34,999

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade creditors

2,749

462

Amounts owed to group undertakings

23,865

803

Taxation and social security

52,400

12,891

Other creditors

30,905

22,675

109,919

36,831

8.	POST BALANCE SHEET EVENTS

In July 2025, the company was acquired by Marqeta, Inc. following the merger of Neptune International Limited into TransactPay Holdings, Inc., a Delaware Corporation and wholly owned subsidiary of Marqeta, Inc.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Marqeta, Inc., a Delaware corporation headquartered in Oakland, CA USA. Marqeta, Inc. is a technology company listed on the Nasdaq exchange.