Company registration number 09377714 (England and Wales)
B TRANSFER SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
B TRANSFER SERVICES LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
B TRANSFER SERVICES LTD
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
5
-
0
-
0
Tangible assets
6
13,035
21,485
Investments
7
1,040,883
435,279
1,053,918
456,764
Current assets
Debtors
8
1,236,982
1,605,747
Cash at bank and in hand
2,410,497
4,776,790
3,647,479
6,382,537
Creditors: amounts falling due within one year
9
(3,813,600)
(6,004,131)
Net current (liabilities)/assets
(166,121)
378,406
Net assets
887,797
835,170
Capital and reserves
Called up share capital
594,896
594,896
Share premium account
6,308,899
6,308,899
Other reserves
7,001,335
2,001,335
Profit and loss reserves
(13,017,333)
(8,069,960)
Total equity
887,797
835,170

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 August 2026 and are signed on its behalf by:
Ms E Rossiello
Director
Company registration number 09377714 (England and Wales)
B TRANSFER SERVICES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Share capital
Share premium account
Other capital contributions
Currency translation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
£
Balance at 1 January 2024
394,896
4,508,899
-
1,335
(4,498,903)
406,227
Year ended 31 December 2024:
Loss and total comprehensive income
-
-
-
-
(3,571,057)
(3,571,057)
Issue of share capital
200,000
1,800,000
-
-
-
2,000,000
Transfers
-
-
2,000,000
-
-
0
2,000,000
Balance at 31 December 2024
594,896
6,308,899
2,000,000
1,335
(8,069,960)
835,170
Year ended 31 December 2025:
Loss and total comprehensive income
-
-
-
-
(4,947,373)
(4,947,373)
Transfers
-
-
5,000,000
-
-
0
5,000,000
Balance at 31 December 2025
594,896
6,308,899
7,000,000
1,335
(13,017,333)
887,797
B TRANSFER SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

B Transfer Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 20 Eastbourne Terrace, London, England, W2 6LA.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

These financial statements for the year ended 31 December 2025 are the first financial statements of B Transfer Services Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2024. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The directors have decided to wind down the activities of the company and to cease operations. While the exact timing of cessation depends on the completion of certain regulatory processes, the directors have concluded that the company will not continue in operational existence for the foreseeable future. As a result, the financial statements have not been prepared on a going concern basis.

Instead, the financial statements have been prepared on a break‑up basis, reflecting the directors’ expectations regarding the realisation of assets and the settlement of liabilities during the wind‑down of the Company.

1.3
Revenue

Revenue comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Revenue is shown net of value-added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the company and when the specific criteria have been met for each of the company's activities as described below. The amount of revenue is not considered to be reliably measured until all contingencies relating to the transaction have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, type of transaction and specifics of each arrangement.

B TRANSFER SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -

i) Revenue from foreign currency dealings and money transfer services are recognised at the time of effecting the transaction and on an accrual basis;

ii) Revenue from processing fee fees represent income earned from facilitating payment transactions for customers through various payment channels where as hared service income arises from the provision of centralized services by company to entities within the group.

iii) Interest income is recognised using the effective interest method.

1.4
Intangible fixed assets other than goodwill

Computer software are capitalised on the basis of the costs incurred to acquire. These costs are amortised over a period of five years on a straight line basis.

An intangible asset is derecognised upon disposal (i.e., at the date the recipient obtains control) or when no future economic benefits are expected from its use or disposal. Any gain or loss arising upon derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is recognised in profit or loss.

Software
20% Straight line basis
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fitting
12.5% Straight Line
Computers
30% Straight Line
1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

B TRANSFER SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

B TRANSFER SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

B TRANSFER SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment of trade and other receivables

The company reviews their portfolio of trade and other receivables on an annual basis. In determining whether receivables are impaired, the management makes judgement as to whether there is any evidence indicating that there is a measurable decrease in the estimated future cash flows expected.

Control of subsidiaries

The directors assess whether or not the company has control over any entity based on whether or not the company has the practical ability to direct the relevant activities of the entity unilaterally. In making their judgement, the directors considered the company's absolute size of holding in the entity and the relative size of dispersion of the shareholdings owned by the other shareholders.

Impairment of fixed asset investments

The company assesses its investments in subsidiaries for indicators of impairment at each reporting date. Judgement is required in determining whether there is objective evidence that the carrying amount of an investment may not be recoverable. In making this assessment, the directors consider factors such as the financial performance and net asset position of the subsidiary, its ability to generate future cash flows, and any known plans to wind down or restructure operations. Where such indicators exist, the recoverable amount is estimated and an impairment loss is recognised if this is lower than the carrying amount.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
12
20
4
Directors' remuneration
2025
2024
£
£
Remuneration paid to directors
994,309
168,042

The analysis of auditor's remuneration is as follows:

B TRANSFER SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
5
Intangible fixed assets
Other
£
Cost
At 1 January 2025 and 31 December 2025
70,061
Amortisation and impairment
At 1 January 2025 and 31 December 2025
70,061
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
6
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2025
98,164
Additions
1,599
Disposals
(1,021)
At 31 December 2025
98,742
Depreciation and impairment
At 1 January 2025
76,679
Depreciation charged in the year
10,049
Eliminated in respect of disposals
(1,021)
At 31 December 2025
85,707
Carrying amount
At 31 December 2025
13,035
At 31 December 2024
21,485
7
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
1,040,883
435,279
B TRANSFER SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
7
Fixed asset investments
(Continued)
- 9 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2025
991,087
Additions
658,881
Disposals
(35,147)
At 31 December 2025
1,614,821
Impairment
At 1 January 2025
555,808
Impairment losses
18,130
At 31 December 2025
573,938
Carrying amount
At 31 December 2025
1,040,883
At 31 December 2024
435,279
8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
436,905
388,278
Other debtors
800,077
1,217,469
1,236,982
1,605,747
9
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
-
0
398,473
Trade creditors
416,929
522,785
Amounts owed to group undertakings
830,126
4,728,285
Other creditors
2,566,545
354,588
3,813,600
6,004,131
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