| Paymenow Holdings Limited |
| Registered number: |
15454421 |
| Balance Sheet |
| as at 30 June 2025 |
|
| Notes |
|
|
2025 |
|
| £ |
|
| Fixed assets |
| Investments |
3 |
|
|
10,849,863 |
|
| Current assets |
| Cash at bank and in hand |
|
|
62,136 |
|
| Creditors: amounts falling due within one year |
4 |
|
(10,993,729) |
|
| Net current liabilities |
|
|
|
(10,931,593) |
|
|
|
| Net liabilities |
|
|
|
(81,730) |
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,001 |
| Profit and loss account |
|
|
|
(82,731) |
|
| Shareholders' funds |
|
|
|
(81,730) |
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| G N Lief |
| Director |
| Approved by the board on 10 October 2025 |
|
| Paymenow Holdings Limited |
| Notes to the Accounts |
| for the period from 30 January 2024 to 30 June 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Consolidation:
The company and its subsidiary comprise a small group. The company has therefore taken advantage of the option provided by Section 398 of the Companies Act 2006 not to prepare group accounts. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
|
| 2 |
Employees |
2025 |
|
| Number |
|
|
|
Average number of persons employed by the company |
0 |
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
Additions |
10,849,863 |
|
|
At 30 June 2025 |
10,849,863 |
|
|
|
|
|
|
|
|
|
The investment represents the cost paid for 6,492 ordinary shares in Paymenow Group Proprietary Limited, a company registered in the Republic of South Africa. A total amount of 252,000,000 Rand was paid on 21 August 2024 to acquire 100% of this company. The sterling equivalent of this amount is £10,849,863.
The net assets of this company at 30 June 2025 were R50,381,786. Equivalent to £2,099,241 at an exchange rate of 24 Rand to £1.
The profit of the company for the year ended 30 June 2025 was R38,842,679 before tax and R28,000,758 after tax. |
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2025 |
|
| £ |
|
|
|
Trade creditors |
11,188 |
|
Other creditors |
10,982,541 |
|
|
|
|
|
|
10,993,729 |
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Related party transactions |
|
|
The following shareholder loans were advanced to the company which are all interest free and repayable, in the UK sterling amounts advanced, by 30 June 2031. They are disclosed in creditors due within one year because they can be repaid at anytime.
Paymenow Manco 2, a private company incorporated in South Africa £1,696,813.
LC Abelheim Ltd as Trustee of the BGH Trust registered in Mauritius £658,012.
EWA Global Limited, a private company incorporated in the Isle of Man £8,624,116. |
|
|
| 6 |
Controlling party |
|
|
There is no single controlling party. |
|
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| 7 |
Other information |
|
|
Paymenow Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Regent House |
|
Theobald Street |
|
Borehamwood |
|
Herts. |
|
WD6 4RS |