Is United Payment Systems Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 14364087

		31 December 2024		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		1,248,836		-

			1,248,836		-
CURRENT ASSETS
Debtors	5	1,426,493		-
Cash at bank and in hand		103,516		168,066

		1,530,009		168,066
Creditors: Amounts Falling Due Within One Year	6	(234,659 )		(26,279 )

NET CURRENT ASSETS (LIABILITIES)			1,295,350		141,787

TOTAL ASSETS LESS CURRENT LIABILITIES			2,544,186		141,787

NET ASSETS			2,544,186		141,787

CAPITAL AND RESERVES
Called up share capital	7		10,990,000		500,000
Profit and Loss Account			(8,445,814 )		(358,213 )

SHAREHOLDERS' FUNDS			2,544,186		141,787

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Halim MEMIS Director	Mr Doruk YURTKURAN Director
24/09/2025

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

Is United Payment Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14364087 . The registered office is 124 City Road, London, EC1V 2NX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.4. Consolidation Exemption

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

2.5. Investment Impairment

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

4. Investments

	Subsidiaries	Other	Total
	£	£	£
Cost
As at 1 January 2024	-	-	-
Additions	7,934,540	229,867	8,164,407

As at 31 December 2024	7,934,540	229,867	8,164,407

Provision
As at 1 January 2024	-	-	-
Impairment losses	6,915,571	-	6,915,571

As at 31 December 2024	6,915,571	-	6,915,571

Net Book Value
As at 31 December 2024	1,018,969	229,867	1,248,836

As at 1 January 2024	-	-	-

The Company has invested in Maxi Digital acquiring 100% of the shareholding. Accordingly, Maxi Digital is a wholly owned subsidiary of the Company.

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Is United Payment Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Debtors

	31 December 2024	31 December 2023
	£	£
Due within one year
Prepayments and accrued income	85,516	-
Due after more than one year
Other debtors	1,340,977	-

	1,426,493	-

6. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 December 2023
	£	£
Trade creditors	27,795	-
Other taxes and social security	-	20,579
Accruals and deferred income	6,840	5,700
Directors' loan accounts	24	-
Amounts owed to group undertakings	200,000	-

	234,659	26,279

7. Share Capital

	31 December 2024	31 December 2023
	£	£
Allotted, Called up and fully paid	10,990,000	500,000

8. Ultimate Parent Undertaking and Controlling Party

The company is a wholly owned by Birlesik Odeme Hizmetleri ve Elektronik Para A.S. (50%) and Odesis Finansal Teknoloji Girisimleri A.S. (50%)

The ultimate Beneficial Owner of Birlesik Odeme Hizmetleri ve Elektronik Para A.S. are Oyak Asset Management Third Venture Capital Investment Fund (99%) and Ilker Sozdinler (1%

The ultimate Beneficial Owner of Odesis Finansal Teknoloji Girisimleri A.S. is Trakya Yatırım Holding A.S.

100%. The ultimate Beneficial Owner of Trakya Yatırım Holding A.S. is Turkiye Is Bankasi A.S (100%)

9. Audit Information

The auditor's report on the accounts of Is United Payment Systems Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Paul Mattei (Senior Statutory Auditor) for and on behalf of Leaman Mattei Limited , Statutory Auditor.

Leaman Mattei Limited

Suite 1

First floor

1 Duchess Street

London

W1W 6AN

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