HEIDI PAY LTD


Directors	BOZZO, Matteo
	DE CESARE, Nicola
	PACE, Luigi


Registered Address	124 City Road
	London
	EC1V 2NX


Registered Number	12814340 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	31 Dec 2025		30 Jun 2025
		£	£	£	£
Fixed assets
Intangible assets	3		-		135
Tangible assets	4		12,625		18,578
Investments	5		2,534,045		2,099,270
			2,546,670		2,117,983
Current assets
Debtors		381,247		471,219
Cash at bank and on hand		545,346		1,708,112
		926,593		2,179,331
Creditors amounts falling due within one year	6	(4,993,283)		(5,932,359)
Net current assets (liabilities)			(4,066,690)		(3,753,028)
Total assets less current liabilities			(1,520,020)		(1,635,045)
Creditors amounts falling due after one year	7		(16,488,930)		(14,460,640)
Provisions for liabilities	8		(698,080)		(684,400)
Net assets			(18,707,030)		(16,780,085)
Capital and reserves
Called up share capital			275,100		275,100
Profit and loss account			(18,982,130)		(17,055,185)
Shareholders' funds			(18,707,030)		(16,780,085)

The company was entitled to exemption from audit for this reporting period 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.
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 and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 30 March 2026, and are signed on its behalf by:

BOZZO, Matteo
Director
Registered Company No. 12814340

HEIDI PAY LTD

Notes to the Financial Statements
for the period ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	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).

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	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.

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.

	Intangible assets
	The company classifies its primary intangible asset as a computer software platform designed for loan generation and management within the Buy Now Pay Later market. This software, being internally developed, is recognised as an intangible asset when it meets the criteria set out in FRS 102, Section 18. The software platform, tailored for loan generation and management in the Buy Now Pay Later sector, is measured initially at its cost. This cost encapsulates all directly attributable expenditures incurred during its creation and preparation to ensure it's operationally ready. Amortisation is provided for over 10 years. At each reporting date, an assessmentis made as to whether there are any indications that an asset may be impaired. These indications can be from external or internal sources of information.

Intangible assets

The company classifies its primary intangible asset as a computer software platform designed for loan generation and management within the Buy Now Pay Later market.

This software, being internally developed, is recognised as an intangible asset when it meets the criteria set out in FRS 102, Section 18.

The software platform, tailored for loan generation and management in the Buy Now Pay Later sector, is measured initially at its cost. This cost encapsulates all directly attributable expenditures incurred during its creation and preparation to ensure it's operationally ready.

Amortisation is provided for over 10 years.

At each reporting date, an assessmentis made as to whether there are any indications that an asset may be impaired. These indications can be from external or internal sources of information.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Fixtures and fittings	5
	Office Equipment	5

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.

2.	Average number of employees


		2025		2025
	Average number of employees during the year	19		20

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 July 25	1,288,948	1,288,948
At 31 December 25	1,288,948	1,288,948
Amortisation and impairment
At 01 July 25	1,288,813	1,288,813
Charge for year	135	135
At 31 December 25	1,288,948	1,288,948
Net book value
At 31 December 25	-	-
At 30 June 25	135	135

4.	Tangible fixed assets

	Fixtures & fittings	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 July 25	3,173	57,655	60,828
At 31 December 25	3,173	57,655	60,828
Depreciation and impairment
At 01 July 25	2,753	39,497	42,250
Charge for year	229	5,724	5,953
At 31 December 25	2,982	45,221	48,203
Net book value
At 31 December 25	191	12,434	12,625
At 30 June 25	420	18,158	18,578

5.	Fixed asset investments
	The following was the principal subsidiary undertaking of the Company: Name of Company - Holipay SRL Country of Incorporation - Italy Class of Shares - Ordinary % holding - 100 Principal Activity - Management Consultancy

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 July 25	2,099,270	2,099,270
Additions	434,775	434,775
At 31 December 25	2,534,045	2,534,045
Net book value
At 31 December 25	2,534,045	2,534,045
At 30 June 25	2,099,270	2,099,270

	Notes
	¹Investments in group undertakings and participating interests

6.	Creditors: amounts due within one year

	2025	2025
	£	£
Trade creditors / trade payables	1,748,551	1,540,994
Taxation and social security	1,028,377	1,273,073
Other creditors	8,731	4,286
Accrued liabilities and deferred income	2,207,624	3,114,006
Total	4,993,283	5,932,359


	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.

7.	Creditors: amounts due after one year

	2025	2025
	£	£
Bank borrowings and overdrafts	7,503,490	-
Amounts owed to related parties	8,985,440	14,460,640
Total	16,488,930	14,460,640

8.	Provisions for liabilities

	2025	2025
	£	£
Other provisions	698,080	684,400
Total	698,080	684,400