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# IPAYPDQ LIMITED

## Company Registration Number:
NI692268 (Northern Ireland)

## Unaudited abridged accounts for the year ended 31 May 2025

## Period of accounts

## Start date: 01 June 2024

## End date: 31 May 2025

# IPAYPDQ LIMITED

## Contents of the Financial Statements

for the Period Ended 31 May 2025

Balance sheet |
Notes |

# IPAYPDQ LIMITED

## Balance sheet

As at 31 May 2025

| Notes | 2025 | 2024
--- | --- | --- | ---
|  | £ | £
Called up share capital not paid: |  | 10,000 | 10,000
Fixed assets
Intangible assets: |  | 0 | 0
Tangible assets: | 3 | 639,192 | 485,632
Investments: | 4 | 1,500,000 | 2,000,000
Total fixed assets: |  | 2,139,192 | 2,485,632
Current assets
Stocks: |  | 0 | 0
Debtors: | 5 | 7,067,407 | 7,338,000
Cash at bank and in hand: |  | 114,925 | 69,162
Investments: | 6 | 0 | 250,000
Total current assets: |  | 7,182,332 | 7,657,162
Creditors: amounts falling due within one year: |  | 0 | 0
Net current assets (liabilities): |  | 7,182,332 | 7,657,162
Total assets less current liabilities: |  | 9,331,524 | 10,152,794
Creditors: amounts falling due after more than one year: | 7 | (1,540,000) | 0
Provision for liabilities: |  | 0 | 0
Total net assets (liabilities): |  | 7,791,524 | 10,152,794
Capital and reserves
Called up share capital: |  | 10,000 | 10,000
Share premium account: |  | 0 | 0
Revaluation reserve: | 8 | 10,000 | 0
Other reserves: |  | 7,763,730 | 10,140,000
Profit and loss account: |  | 7,794 | 2,794
Shareholders funds: |  | 7,791,524 | 10,152,794

The notes form part of these financial statements

# IPAYPDQ LIMITED

## Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 March 2026
and signed on behalf of the board by:

Name: Yesim MULHOLLAND
Status: Director

The notes form part of these financial statements

# IPAYPDQ LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

# IPAYPDQ LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 2. Employees

| 2025 | 2024
--- | --- | ---
Average number of employees during the period | 84 | 62

# IPAYPDQ LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 3. Tangible Assets

| Total
--- | ---
Cost | £
At 01 June 2024 | 485,632
Additions | 153,560
Disposals | 0
Revaluations | 0
Transfers | 0
At 31 May 2025 | 639,192
Depreciation |
At 01 June 2024 | 0
Charge for year | 0
On disposals | 0
Other adjustments | 0
At 31 May 2025 | 0
Net book value |
At 31 May 2025 | 639,192
At 31 May 2024 | 485,632

Tangible assets comprise office equipment, servers, payment infrastructure equipment and associated technology assets used in the company’s operations.

# IPAYPDQ LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 4. Fixed investments

Fixed asset investments comprise strategic investments in subsidiary undertakings and infrastructure supporting international payment operations.

# IPAYPDQ LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 5. Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Debtors due after more than one year: | 7,067,407 | 0

Debtors comprise trade debtors, group balances and other receivables arising in the normal course of business. All balances are considered recoverable by the directors.

# IPAYPDQ LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 6. Current investments

Fixed asset investments comprise strategic investments in subsidiary undertakings and infrastructure supporting international payment operations. During the year the company maintained and deployed investment in overseas infrastructure, including physical server assets associated with operations in Georgia. Investments are stated at cost less any provision for impairment.

# IPAYPDQ LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 7. Creditors: amounts falling due after more than one year note

The company had no creditors falling due after more than one year at the balance sheet date.

# IPAYPDQ LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 8. Revaluation reserve

| 2025
--- | ---
| £
Balance at 01 June 2024 | 0
Surplus or deficit after revaluation | 10,000
Balance at 31 May 2025 | 10,000

# IPAYPDQ LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 9. Related party transactions

Name of the related party: | Garth MULHOLLAND
Relationship: | Director
Description of the Transaction: | Director funding provided to support working capital requirements during the financial year.
£
Balance at 01 June 2024 |  | 0
Balance at 31 May 2025 |  | 250,000

Name of the related party: | iPayPDQ Georgia
Relationship: | Subsidiary
Description of the Transaction: | Funding provided to support overseas infrastructure and operational development.
£
Balance at 01 June 2024 |  | 0
Balance at 31 May 2025 |  | 1,000,000

Name of the related party: | iPayPDQ Jersey
Relationship: | subsidiary
Description of the Transaction: | Funding provided to support overseas infrastructure and operational development.
£
Balance at 01 June 2024 |  | 0
Balance at 31 May 2025 |  | 150,000

Name of the related party: | iPayPDQ Lebanon
Relationship: | subsidiary
Description of the Transaction: | Funding provided to support overseas infrastructure and operational development.
£
Balance at 01 June 2024 |  | 0
Balance at 31 May 2025 |  | 250,000

Name of the related party: | iPayPDQ Türkiye
Relationship: | subsidiary
Description of the Transaction: | Funding provided to support overseas infrastructure and operational development.
£
Balance at 01 June 2024 |  | 0
Balance at 31 May 2025 |  | 3,000,000

Name of the related party: | iPayPDQ Isle of Man
Relationship: | subsidiary
Description of the Transaction: | Funding provided to support overseas infrastructure and operational development.
£
Balance at 01 June 2024 |  | 0
Balance at 31 May 2025 |  | 500,000

Name of the related party: | iPayPDQ Ireland
Relationship: | subsidiary
Description of the Transaction: | Funding provided to support overseas infrastructure and operational development.
£
Balance at 01 June 2024 |  | 0
Balance at 31 May 2025 |  | 1,000,000

Name of the related party: | iPayPDQ UAE
Relationship: | subsidiary
Description of the Transaction: | Funding provided to support overseas infrastructure and operational development.
£
Balance at 01 June 2024 |  | 0
Balance at 31 May 2025 |  | 2,500,000