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Registered number: 07825300 SEGREGATED PAYMENTS LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
SEGREGATED PAYMENTS LIMITED REGISTERED NUMBER: 07825300 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | $ |  | $
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 4 | 288,984 |  | 206,213 |
Cash at bank and in hand | 5 | 1,666,107 |  | 1,646,720 |
|  | 1,955,091 |  | 1,852,933 |
Creditors: amounts falling due within one year | 6 | (1,299,269) |  | (1,325,486) |
Net current assets |  |  | 655,822 |  | 527,447
Total assets less current liabilities |  |  | 655,822 |  | 527,447
Net assets |  |  | 655,822 |  | 527,447
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 204,989 |  | 204,989
Profit and loss account |  |  | 450,833 |  | 322,458
|  |  | 655,822 |  | 527,447
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
C M Beardsley
Director
Date: 21 April 2026
The notes on pages 2 to 6 form part of these financial statements. Page 1
SEGREGATED PAYMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Segregated Payments Limited is a private company limited by shares, and incorporated in England and Wales. The registered office is Room 21, Great North Business Centre, 82 Great North Road, Hatfield, England, AL9 5BL. The principal activity of the Company was the provision of payment services. The financial statements are prepared in US Dollars ('USD'), rounded to the nearest $1. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
At the time of approving the financial statements, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Directors of the Company have also considered the Company's existing reserves and the letter of support received from the parent company, Toccata Inc., confirming both the intention to continue to support the Company and ability to do so for at least 12 months from the date of approval of these financial statements. The Directors are therefore satisfied that the Company should continue to adopt the going concern basis of accounting in preparing these financial statements.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 2
SEGREGATED PAYMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.5 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.6 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.8 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.10 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Page 3
SEGREGATED PAYMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. Impairment of financial assets Financial assets are assessed for indicators of impairment at each reporting date. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Page 4
SEGREGATED PAYMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2024 - 4).
4. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | $ | $
| Amount due from processors | 254,388 | 192,560
| Other debtors | 29,096 | 12,555
| Prepayments and accrued income | 5,500 | 1,098
|  | 288,984 | 206,213
5. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | $ | $
| Cash at bank and in hand | 1,666,107 | 1,646,720
|  | 1,666,107 | 1,646,720
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | $ | $
| Amounts owed to group undertakings | 342,415 | 508,162
| Outstanding settlements | 864,860 | 647,812
| Corporation tax | 64,049 | 35,226
| Other taxation and social security | - | 82,761
| Other creditors | - | 23,583
| Accruals and deferred income | 27,945 | 27,942
|  | 1,299,269 | 1,325,486
Page 5
SEGREGATED PAYMENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to $73,912 (2024 - $35,152). Contributions totalling $nil (2024 - $nil) were payable to the fund at the balance sheet date and are included in creditors.
8. | Related party transactions
| The Company has taken advantage of the exemptions available from disclosing transactions with the ultimate parent company or any wholly owned subsidiary of the group. During the year, the Company was charged $75,914 (2024 - $79,560) for directors' and consultancy fees.
9. | Controlling party
The immediate parent company is Toccata Inc., a company registered in the USA. The ultimate controlling party is C M Beardsley, a director, due to her control of the majority of the shares in the ultimate parent company. The accounts of the Company are included in the consolidated financial statements of Toccata Inc., copies of which can be obtained from Toccata Inc. 220 Hillsboro Technology Dr, Suite 130, Deerfield Beach, FL 33441.
10. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 21 April 2026 by Alexander Chrysaphiades FCA (Senior Statutory Auditor) on behalf of Adler Shine LLP.
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