Billhop UK Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Billhop UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13838704 . The registered office is Unit 04/102, 8 Devonshire Square, London, EC2M 4YJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

Though the Company has negative equity despite making a profit in 2025, the Directors have a reasonable expectation that the Company will continue to have access to adequate resources to continue in operational existence for the foreseeable future. The Directors have considered a letter of support from its immediate parent company stating that they will support the Company should it not be in a position to meet any repayment obligations. Thus, the Directors continue to adopt the going concern basis in preparing the annual financial statements.

2.3. Significant judgements and estimations

The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets reflect the value of the customer list purchased from Billhop AB for £103,208 at the end of 2024. The customer list has been capitalised as an intangible fixed asset, as it is identifiable, separable, and expected to generate future economic benefits. It will be amortised to profit and loss account over its estimated economic life of 3 years.

2.6. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans from banks and related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

2.7. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Billhop UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Debtors

Basic financial assets, including other debtors, are intially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

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

2.10. 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.

2.11. Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

2.12. 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. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 4 (2024: 5)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2025	103,208

As at 31 December 2025	103,208

Amortisation
As at 1 January 2025	-
Provided during the period	34,403

As at 31 December 2025	34,403

Net Book Value
As at 31 December 2025	68,805

As at 1 January 2025	103,208

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Billhop UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	6,560	2,967
Prepayments and accrued income	361,317	5,397
Other debtors	1,299,902	805,142
Net wages	-	94

	1,667,779	813,600

At 31 December 2025, the company had made payments totalling £nil (2024: £771,338) on behalf of clients in advance of receiving the corresponding funds into the client account. These amounts are included within other debtors and have been reimbursed by clients shortly after the accouting period end.

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	641,214	162,359
Other taxes and social security	14,457	8,838
Other creditors	1,310,756	8,693
Accruals	9,384	3,426
Amounts owed to group undertakings	282,606	482,606

	2,258,417	665,922

At 31 December 2025, the company had received funds totalling £1,310,756 (2024: £nil) from clients in advance. These amounts are included within other creditors and have been paid across on behalf of clients shortly after the accouting period end.

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2,128,208	2,128,208

8. Dividends

No dividends were proposed or paid during the current year or prior period.

9. Related Party Transactions

The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of Section 33. 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” not to disclose transactions with entities that are wholly owned members of the group.

10. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Billhop AB , incorporated in Sweden. Copies of the group accounts may be obtained from the secretary, Kungsgatan 8, Stockholm, 11143 . The ultimate controlling party is Billhop AB who controls 100% of the shares of Billhop UK Limited .

11. Off-Balance Sheet Arrangements

The company holds client monies in a separate client account. These funds are held on behalf of clients and are not included in the company’s balance sheet, in accordance with FRS 102. The total balance held in client accounts as at 31 December 2025 was £1,299,902 (2024: £33,810). The company has no beneficial interest in these funds.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		68,805		103,208

			68,805		103,208
CURRENT ASSETS
Debtors	5	1,667,779		813,600
Cash at bank and in hand		1,359,363		571,332

		3,027,142		1,384,932
Creditors: Amounts Falling Due Within One Year	6	(2,258,417 )		(665,922 )

NET CURRENT ASSETS (LIABILITIES)			768,725		719,010

TOTAL ASSETS LESS CURRENT LIABILITIES			837,530		822,218

NET ASSETS			837,530		822,218

CAPITAL AND RESERVES
Called up share capital	7		2,128,208		2,128,208
Profit and Loss Account			(1,290,678 )		(1,305,990 )

SHAREHOLDERS' FUNDS			837,530		822,218