Registration number: 12581855

Plend Limited

Contents

Company Information	1
Directors' Report	2
Abridged Balance Sheet	3 to 4
Notes to the Unaudited Abridged Financial Statements	5 to 9

Plend Limited

Company Information

Directors

J A J R Pursaill L J Lang

Registered office

Aldgate Tower 6th Floor 2 Leman Street London E1 8FA

Plend Limited

Directors' Report for the Year Ended 31 March 2025

The directors present their report and the abridged financial statements for the year ended 31 March 2025.

Directors of the company

The directors who held office during the year were as follows:

R A Pasco (ceased 22 July 2024)

J A J R Pursaill

L J Lang

Principal activity

The principal activity of the company is the facilitation of consumer loans.

Small companies provision statement

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

Approved and authorised by the Board on 22 December 2025 and signed on its behalf by:
 

......................................... J A J R Pursaill Director

Plend Limited

(Registration number: 12581855)
Abridged Balance Sheet as at 31 March 2025

	Note	2025 £	Restated 2024 £
Non-current assets
Tangible assets	5	3,554	6,511
Loans and other receivables		1,816,848	2,064,540
		1,820,402	2,071,051
Current assets
Debtors		11,340	-
Cash at bank and in hand		207,239	110,150
		218,579	110,150
Prepayments and accrued income		4,554	116,809
Creditors: Amounts falling due within one year		(77,795)	(259,741)
Net current assets/(liabilities)		145,338	(32,782)
Total assets less current liabilities		1,965,740	2,038,269
Creditors: Amounts falling due after more than one year		(3,431,264)	(3,381,012)
Accruals and deferred income		(32,973)	(79,153)
Net liabilities		(1,498,497)	(1,421,896)
Capital and reserves
Called up share capital		14,534	14,534
Share premium reserve		695,971	695,971
Profit and loss account		(2,209,002)	(2,132,401)
Total equity		(1,498,497)	(1,421,896)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Plend Limited

(Registration number: 12581855)
Abridged Balance Sheet as at 31 March 2025

All of the company’s members have consented to the preparation of an Abridged Balance Sheet and have elected to take the option not to file the Profit and Loss Account in accordance with Section 444 of the Companies Act 2006

Approved and authorised by the Board on 22 December 2025 and signed on its behalf by:
 

.........................................

J A J R Pursaill

Director

Plend Limited

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

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Aldgate Tower
6th Floor
2 Leman Street
London
E1 8FA
United Kingdom

These financial statements were authorised for issue by the Board on 22 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

These financial statements have been prepared on a going concern basis. The directors have prepared cash flow forecasts and have considered all available information about the future for at least twelve months from the date of approval of these financial statements and, on the basis that the Company is expected to generate sufficient cash flows to meet its obligations as they fall due for at least twelve months from the date of approval of these financial statements, they consider it appropriate to adopt the going concern basis of accounting. The directors have received confirmation of continuing financial support from the company’s parent company and lenders however these forecasts are dependent upon the parent company raising further investment and achieving forecasted rates of lending. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.

Plend Limited

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	3 years straight line
Computer equipment	4 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Plend Limited

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Prior period restatement

During the year, management identified that expenses totalling £78,964 had been incorrectly included in the profit and loss account in the financial years FY22 and FY23, with the corresponding entry recognised within intercompany creditors.
These errors have been corrected by way of a prior period adjustment, and the comparative figures have been restated accordingly. As a result of the correction, net assets at the start of the comparative period have increased by £78,964, and an increase in retained earnings of £78,964.

Tax losses carried forward - prior period restatement
A prior period restatement has been made to correct the brought forward trading losses. This adjustment has resulted in a reduction of the brought forward trading losses by £78,964. The trading losses previously reported as £2,730,165 have been restated to £2,651,201.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors and key management personnel) during the year, was 0 (2024 - 14).

4	Loss before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	2,958	2,545

Plend Limited

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

5	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	2,474	8,248	10,722
At 31 March 2025	2,474	8,248	10,722
Depreciation
At 1 April 2024	921	3,290	4,211
Charge for the year	771	2,186	2,957
At 31 March 2025	1,692	5,476	7,168
Carrying amount
At 31 March 2025	782	2,772	3,554
At 31 March 2024	1,553	4,958	6,511

6	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2024 - £Nil).

7	Related party transactions

Summary of transactions with parent

Included with administrative expenses is £120,000 (2024: £102,000) which relates to software recharges raised from the parent, Plend Technology Group Ltd. Of this balance, nil (2024: £102,000) is included within the trade payables balance and £120,000 has been transferred to the intercompany loan balance. The loan is not interest bearing.

Summary of transactions with all entities with joint control or significant interest

Expenditure with and payables to related parties

2025	Parent £
Rendering of services	120,000

2024	Parent £
Rendering of services	102,000

Plend Limited

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

Loans from related parties

2025	Parent £	Total £
At start of period	2,421,957	2,421,957
Advanced	237,311	237,311
Repaid	(235,035)	(235,035)
At end of period	2,424,233	2,424,233

2024	Parent £	Total £
At start of period	290,557	290,557
Advanced	2,518,812	2,518,812
Repaid	(387,412)	(387,412)
At end of period	2,421,957	2,421,957

Terms of loans from related parties

The loan is interest-free and has no fixed repayment date.The company has no current intention or ability to demand repayment and accordingly the loan is considered repayable only by mutual consent at an unspecified future date.