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REGISTERED NUMBER: 14150004 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2025

for

PAYNEST LTD

| PAYNEST LTD (REGISTERED NUMBER: 14150004) |

Contents of the Financial Statements

for the year ended 30 June 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| PAYNEST LTD |

Company Information

for the year ended 30 June 2025

| Directors: | M Gkontas

| N Pereira

| A Suberville

| Registered office: | 3rd Floor

| 86-90 Paul Street

| London

| EC2A 4NE

| Registered number: | 14150004 (England and Wales)

| Accountants: | Cooper Parry Advisory Limited

| Broadwalk House, 5th Floor

| 5 Appold Street

| Broadgate

| London

| EC2A 2AG

| PAYNEST LTD (REGISTERED NUMBER: 14150004) |

Balance Sheet

30 June 2025

2025 | 2024 |

| Notes | £ | £

Current assets

Debtors | 4 | 1,832 |  | 5,053 |  |

Cash at bank | 3,830 |  | 4,971 |  |

5,662 |  | 10,024 |  |

Creditors

Amounts falling due within one year | 5 | 288,743 |  | 132,672 |  |

Net current liabilities | (283,081 | ) | (122,648 | ) |

Total assets less current liabilities | (283,081 | ) | (122,648 | ) |

Capital and reserves

Called up share capital | 6 | 663 |  | 663 |  |

Other reserves | 492,971 |  | 492,971 |  |

Retained earnings | (776,715 | ) | (616,282 | ) |

Shareholders' funds | (283,081 | ) | (122,648 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2026 and were signed on its behalf by:

N Pereira - Director

| PAYNEST LTD (REGISTERED NUMBER: 14150004) |

Notes to the Financial Statements

for the year ended 30 June 2025

1. | Statutory information

| Paynest Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

| Going concern

| The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however the directors believe that the company has sufficient financial resources with the continued support of its parent company to be able to meet its obligations, if and when, they become due, and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.

| Preparation of consolidated financial statements

| The financial statements contain information about Paynest Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover from the rendering of services is recognised by reference to the stage of completion of the transaction providing that; the amount of revenue associated with the transaction can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company, the stage of completion of the transaction can be measured reliably and the costs incurred or to be incurred in respect of completing the transaction can be measured reliably.

| Financial instruments

| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

| Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

| PAYNEST LTD (REGISTERED NUMBER: 14150004) |

Notes to the Financial Statements - continued

for the year ended 30 June 2025

2. | Accounting policies - continued

| 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 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to the income statement on a straight line basis over

| the period of the lease.

3. | Employees and directors

| The average number of employees during the year was 2 (2024 - 2 ) .

4. | Debtors: amounts falling due within one year |

2025 | 2024 |

| £ | £

| Other debtors | 1,832 |  | 5,053 |  |

5. | Creditors: amounts falling due within one year |

2025 | 2024 |

| £ | £

| Bank loans and overdrafts | 65 |  | - |  |

| Trade creditors | 306 |  | 5,117 |  |

| Amounts owed to group undertakings | 287,866 |  | 127,049 |  |

| Other creditors | 506 |  | 506 |  |

288,743 |  | 132,672 |  |

6. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

value: |  | £ | £

| 37,000 | Ordinary | 0.01 | 370 |  | 500 |  |

| 29,300 | Pre-seed | 0.01 | 293 |  | 163 |  |

663 |  | 663 |  |