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Registered number: 12314440 UNIPAAS FINANCIAL SERVICES LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
UNIPAAS FINANCIAL SERVICES LIMITED COMPANY INFORMATION
Directors | D Avgi
| R C Caplehorn
| D P Lander
| P J Atherton
Registered number | 12314440
Registered office | 101 New Cavendish Street
| 1st Floor South
| London
| W1W 6XH
Independent auditors | Harris and Trotter LLP
| Chartered Accountants & Statutory Auditors
| 101 New Cavendish Street
| 1st Floor South
| London
| W1W 6XH
UNIPAAS FINANCIAL SERVICES LIMITED CONTENTS
| Page
Strategic report | 1
Directors' report | 2 - 3
Independent auditors' report | 4 - 7
Statement of comprehensive income | 8
Balance sheet | 9 - 10
Statement of changes in equity | 11
Statement of cash flows | 12
Analysis of net debt | 13
Notes to the financial statements | 14 - 21
UNIPAAS FINANCIAL SERVICES LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
Introduction
The directors present their Strategic Report together with the audited financial statements for the period ended 31 December 2025.
Business review
The directors are happy with the performance of the company during the period and look forward to increased growth in the foreseeable future. The key financial highlights of the year are as follows:
Principal risks and uncertainties
The company's principal risk stems from the trading performance of the business. These include the ability to attract new business and the capacity to deliver work efficiently and within budgets.
Financial key performance indicators
The company's principal financial instruments include bank balances, trade creditors and trade debtors. The company closely manages trade debtors with respect to credit and cash flow risk. This report was approved by the board and signed on its behalf.
D Avgi Director
Date: 28 June 2026
Page 1
UNIPAAS FINANCIAL SERVICES LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The directors present their report and the financial statements for the year ended 31 December 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results
The profit for the year, after taxation, amounted to £42,099 (2024 - £22,835).
Directors
The directors who served during the year were:
D Avgi
R C Caplehorn
D P Lander
P J Atherton
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information. Page 2
UNIPAAS FINANCIAL SERVICES LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Auditors
The auditors, Harris and Trotter LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board and signed on its behalf.
D Avgi Director
Date: 28 June 2026
Page 3
UNIPAAS FINANCIAL SERVICES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UNIPAAS FINANCIAL SERVICES LIMITED
Opinion
We have audited the financial statements of Unipaas Financial Services Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Analysis of net debt, the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 31 December 2025 and of its profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 4
UNIPAAS FINANCIAL SERVICES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UNIPAAS FINANCIAL SERVICES LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 5
UNIPAAS FINANCIAL SERVICES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UNIPAAS FINANCIAL SERVICES LIMITED (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following: • We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the industry in which it operates. We determined that the following laws and regulations were most significant: FRS 102 and the Companies Act 2006. • We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management. • We challenged assumptions and judgments made by management in its significant accounting estimates; We did not identify any key audit matters relating to irregularities, including fraud. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report. Page 6
UNIPAAS FINANCIAL SERVICES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UNIPAAS FINANCIAL SERVICES LIMITED (CONTINUED)
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Jamie Taylor (Senior statutory auditor) for and on behalf of Harris and Trotter LLP Chartered Accountants & Statutory Auditors 101 New Cavendish Street 1st Floor South London W1W 6XH 28 June 2026 Page 7
UNIPAAS FINANCIAL SERVICES LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024
| £ | £
Turnover | 2,042,209 | 1,199,643
Cost of sales | (841,657) | (380,221)
Gross profit | 1,200,552 | 819,422
Administrative expenses | (1,151,531) | (790,595)
Operating profit | 49,021 | 28,827
Interest receivable and similar income | 17,450 | 7,699
Interest payable and similar expenses | - | (15)
Other finance expenditure | (7,712) | (7,573)
Profit before tax | 58,759 | 28,938
Tax on profit | (16,660) | (6,103)
Profit for the financial year | 42,099 | 22,835
There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of comprehensive income.
There was no other comprehensive income for 2025 (2024:£NIL).
Page 8
UNIPAAS FINANCIAL SERVICES LIMITED REGISTERED NUMBER: 12314440 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible fixed assets |  |  | 2,679 |  | 1,831
|  |  | 2,679 |  | 1,831
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 10 | 287,435 |  | 93,736 |
Cash at bank and in hand | 11 | 271,441 |  | 292,177 |
|  | 558,876 |  | 385,913 |
Creditors: amounts falling due within one year | 12 | (205,749) |  | (74,037) |
Net current assets |  |  | 353,127 |  | 311,876
Total assets less current liabilities |  |  | 355,806 |  | 313,707
Net assets |  |  | 355,806 |  | 313,707
Capital and reserves |  |  |  |  |
Called up share capital | 13 |  | 250,000 |  | 250,000
Profit and loss account |  |  | 105,806 |  | 63,707
|  |  | 355,806 |  | 313,707
Page 9
UNIPAAS FINANCIAL SERVICES LIMITED REGISTERED NUMBER: 12314440 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025 The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 June 2026.
D Avgi
Director
The notes on pages 14 to 21 form part of these financial statements. Page 10
UNIPAAS FINANCIAL SERVICES LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 250,000 | 40,872 | 290,872
Profit for the year | - | 22,835 | 22,835
At 1 January 2025 | 250,000 | 63,707 | 313,707
Profit for the year | - | 42,099 | 42,099
At 31 December 2025 | 250,000 | 105,806 | 355,806
| The notes on pages 14 to 21 form part of these financial statements.
Page 11
UNIPAAS FINANCIAL SERVICES LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 42,099 | 22,835
Adjustments for: |  |
Depreciation of tangible assets | 1,042 | 931
Interest paid | - | 15
Interest received | (17,450) | (7,699)
Taxation charge | 16,660 | 6,103
(Increase)/decrease in debtors | (4,675) | 8,825
(Increase)/decrease in amounts owed by groups | (189,027) | 16,172
Increase in creditors | 105,846 | 2,091
Corporation tax (paid)/received | (6,139) | 4,096
Net cash generated from operating activities | (51,644) | 53,369
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (1,890) | (2,123)
Interest received | 17,450 | 7,699
Net cash from investing activities | 15,560 | 5,576
Cash flows from financing activities |  |
Interest paid | - | (15)
Net cash used in financing activities | - | (15)
Net (decrease)/increase in cash and cash equivalents | (36,084) | 58,930
Cash and cash equivalents at beginning of year | 292,177 | 233,247
Cash and cash equivalents at the end of year | 256,093 | 292,177
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 256,093 | 292,177
| 256,093 | 292,177
The notes on pages 14 to 21 form part of these financial statements.
Page 12
UNIPAAS FINANCIAL SERVICES LIMITED ANALYSIS OF NET DEBT FOR THE YEAR ENDED 31 DECEMBER 2025
| At 1 January 2025 | Cash flows | At 31 December 2025
| £ | £ | £
Cash at bank and in hand | 292,177 | (20,736) | 271,441
Bank overdrafts | - | (15,348) | (15,348)
Debt due within 1 year | - | - | -
| 292,177 | (36,084) | 256,093
The notes on pages 14 to 21 form part of these financial statements.
Page 13
UNIPAAS FINANCIAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Unipaas Financial Services Limited is a private company limited by shares and incorporated in England & Wales (registered number 12314440). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The financial statements are presented in Sterling, which is the functional currency of the company. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | 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.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 14
UNIPAAS FINANCIAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | 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.
| 2.7 | 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.
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Computer equipment | - | 33% | Reducing Balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.9 | 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. Page 15
UNIPAAS FINANCIAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | 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. In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
| 2.11 | 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.
3. | Auditors' remuneration
| During the year, the Company obtained the following services from the Company's auditors:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the Company's financial statements | 12,000 | 12,000
4. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries and professional services | 595,551 | 379,493
| Social security costs | 53,912 | 29,231
| Cost of defined contribution scheme | 16,536 | 6,240
| Directors compensation and 3rd party payments | 72,000 | 72,000
|  | 737,999 | 486,964
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Employees | 10 | 8
Page 16
UNIPAAS FINANCIAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 45,750 | 36,000
| Company contributions to defined contribution pension schemes | 465 | 173
| Sums paid to third parties for directors services | 72,000 | 72,000
|  | 118,215 | 108,173
| During the year retirement benefits were accruing to no directors (2024 - NIL) in respect of defined contribution pension schemes.
6. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | 17,450 | 7,699
|  | 17,450 | 7,699
7. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest payable | - | 15
|  | - | 15
Page 17
UNIPAAS FINANCIAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 16,660 | 6,103
|  | 16,660 | 6,103
| Total current tax | 16,660 | 6,103
| Deferred tax |  |
| Total deferred tax | - | -
|  | 16,660 | 6,103
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 58,759 | 28,938
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 14,690 | 7,235
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 2,418 | -
| Capital allowances for year in excess of depreciation | (213) | (298)
| Marginal relief | (235) | (834)
| Total tax charge for the year | 16,660 | 6,103
Page 18
UNIPAAS FINANCIAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. | Tangible fixed assets
|  | Computer equipment
|  | £
| Cost or valuation |
| At 1 January 2025 | 4,227
| Additions | 1,890
| At 31 December 2025 | 6,117
| Depreciation |
| At 1 January 2025 | 2,396
| Charge for the year on owned assets | 1,042
| At 31 December 2025 | 3,438
| Net book value |
| At 31 December 2025 | 2,679
| At 31 December 2024 | 1,831
10. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 8,974 | 11,560
| Amounts owed by group undertakings | 218,110 | 29,083
| Other debtors | 30,010 | 31,545
| Prepayments and accrued income | 30,341 | 21,548
|  | 287,435 | 93,736
Page 19
UNIPAAS FINANCIAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
11. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 271,441 | 292,177
| Less: bank overdrafts | (15,348) | -
|  | 256,093 | 292,177
12. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 21,140 | 20,739
| Corporation tax | 16,660 | 6,140
| Other taxation and social security | 21,106 | 13,087
| Other creditors | 92,967 | 2,028
| Accruals and deferred income | 38,528 | 32,043
| Bank overdrafts | 15,348 | -
|  | 205,749 | 74,037
13. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 250,000 (2024 - 250,000) Ordinary shares of £1.00 each | 250,000 | 250,000
14. | 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 £16,536 (2024: 6,240). Contributions totaling £827 (2024: £1,936) were payable to the fund at the balance sheet date and are included in creditors.
15. | Client funds
The Company holds client funds in accordance with the regulations of the Financial Conduct Authority. These funds are held separately from those of the Company and are not refelcted on the Balance Sheet. As at the balance sheet date the client funds held by the Company totalled £1,006,885 (2024: £402,403). Page 20
UNIPAAS FINANCIAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
16. | Related party transactions
| Sales invoices totaling £862,110 (2024: £707,587) were issued in the year to Unipaas Payment Technologies Limited, the parent company. During the year consultancy fees and business related expenses totaling £80,187 (2024: £80,019) were paid to a company under the control of a director, this includes £72,000 (2024: £72,000) paid for the director's services. Included in trade creditors at the year end was £8,187 (2024: £7,200) owed to the same company. Included within debtors at the year end was £218,110 due to (2024: 29,083 due from) the parent company.
17. | Controlling party
The ultimate parent undertaking is Unipaas Payment Technologies Limited, a company incorporated and registered in Israel.
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