ACCOUNTS - Final Accounts

An analysis of turnover by class of business is as follows:

Company registration number: 03483223

Zedra PO Payments Limited

Directors' report and financial statements

For the year ended 31 December 2024

Coveney Nicholls Partnership LLP

Chartered Accountants & Statutory Auditor

The Old Wheel House

31/37 Church Street

Reigate

Surrey

RH2 0AD


Zedra PO Payments Limited

Company Information

Directors	H A Jones
	S W Mcluckie (appointed 8 May 2024)
	D Rudge (appointed 8 May 2024)
	R J S Burton (resigned 8 May 2024)
	C P N Filmer (resigned 8 May 2024)


Registered number	03483223


Registered office	Birchin Court 5th Floor
	19-25 Birchin Lane
	London
	EC3V 9DU


Zedra PO Payments Limited

Contents

	Page
Directors' report	1 - 2
Independent auditors' report	3 - 6
Statement of comprehensive income	7
Statement of financial position	8
Statement of changes in equity	9
Notes to the financial statements	10 - 14


Zedra PO Payments Limited

Directors' report

For the year ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The directors are responsible for preparing 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;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙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.

Directors

The directors who served during the year were:

H A Jones

S W Mcluckie (appointed 8 May 2024)

D Rudge (appointed 8 May 2024)

R J S Burton (resigned 8 May 2024)

C P N Filmer (resigned 8 May 2024)

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 1


Zedra PO Payments Limited

Directors' report (continued)

For the year ended 31 December 2024

Auditors

The auditors, Coveney Nicholls Partnership LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 14 August 2026 and signed on its behalf.

H A Jones

Director

Page 2


Zedra PO Payments Limited

Independent auditors' report to the members of Zedra PO Payments Limited

Opinion

We have audited the financial statements of Zedra PO Payments Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Statement of financial position, 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 2024 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 3


Zedra PO Payments Limited

Independent auditors' report to the members of Zedra PO Payments 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' report has 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 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; or

∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report.

Page 4


Zedra PO Payments Limited

Independent auditors' report to the members of Zedra PO Payments Limited (continued)

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 1, 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.

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:

Capability of the audit detecting irregularities, including fraud:
Based on our understanding of the company and the legal and regulatory frameworks in which it operates, and identifies the key laws and regulations that:

∙had a direct effect on the determination of material amounts and disclosures in the financial statements. These included UK Companies Act and tax legislation; and

∙do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company's ability to operate or to avoid a material penalty.

We communicated identified law and regulation throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management's incentive and opportunities for fraudulent manipulation of the Financial Statements, including the risk of override of control(s), and determined that the principal risks were related to posting inappropriate journal entries, accelerated revenue recognition and management bias in accounting estimates.

Audit procedures performed by the engagement team included:

∙Discussions with management, and obtaining written representations, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;

∙Evaluation of management's controls designed to prevent and detect irregularities;

∙Tests of detail on revenue recognition and occurrence, particularly around the year end;

∙Challenging assumptions and judgements made by management in their significant accounting estimates; and

∙Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

Page 5


Zedra PO Payments Limited

Independent auditors' report to the members of Zedra PO Payments Limited (continued)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

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.

Gareth Turner (Senior statutory auditor)

for and on behalf of

Coveney Nicholls Partnership LLP

The Old Wheel House

31/37 Church Street

Reigate

Surrey

RH2 0AD

14 August 2026

Page 6


Zedra PO Payments Limited

Statement of comprehensive income

For the year ended 31 December 2024

	2024	2023
Note	£	£


Turnover	9,502	7,485
Gross profit	9,502	7,485
Administrative expenses	(6,968)	(1,412)
Operating profit	2,534	6,073
Tax on profit	(633)	(1,000)
Profit for the financial year	1,901	5,073

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 10 to 14 form part of these financial statements.

Page 7


Zedra PO Payments Limited Registered number:03483223

Statement of financial position

As at 31 December 2024

	2024	2023
Note	£	£

Current assets
Debtors	6	43,475	3,001
Bank and cash balances		46,508	84,728
		89,983	87,729
Creditors: amounts falling due within one year	7	(4,000)	(3,647)
Net current assets		85,983	84,082
Total assets less current liabilities		85,983	84,082
Net assets		85,983	84,082

Capital and reserves
Called up share capital	50,002	50,002
Profit and loss account	35,981	34,080
	85,983	84,082

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 were approved and authorised for issue by the board and were signed on its behalf on 14 August 2026.

H A Jones

Director

The notes on pages 10 to 14 form part of these financial statements.

Page 8


Zedra PO Payments Limited

Statement of changes in equity

For the year ended 31 December 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	50,002	29,007	79,009
Comprehensive income for the year
Profit for the year	-	5,073	5,073
Total comprehensive income for the year	-	5,073	5,073

At 1 January 2024	50,002	34,080	84,082
Comprehensive income for the year
Profit for the year	-	1,901	1,901
Total comprehensive income for the year	-	1,901	1,901
At 31 December 2024	50,002	35,981	85,983

The notes on pages 10 to 14 form part of these financial statements.

Page 9


Zedra PO Payments Limited

Notes to the financial statements

For the year ended 31 December 2024

1.	General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Birchin Court 5th Floor, 19-25 Birchin Lane, London, EC3V 9DU.

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

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:

Insurance commissions receivable are recognised as they accrue.

2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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Zedra PO Payments Limited

Notes to the financial statements

For the year ended 31 December 2024

2.Accounting policies (continued)

2.4

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.

2.5

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.

2.6

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.

Commissions	9,502	7,485
	9,502	7,485

Analysis of turnover by country of destination:

					2024	2023
					£	£

United Kingdom	9,502	7,485
	9,502	7,485

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Zedra PO Payments Limited

Notes to the financial statements

For the year ended 31 December 2024

Fees payable to the Company's auditors for the audit of the Company's financial statements

2,425

2,340

Employees

	The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).
	The average monthly number of employees, including directors, during the year was 0 (2023 - 0).

Debtors

					2024	2023
					£	£

Trade debtors	488	425
Amounts owed by group undertakings	41,160	-
Other debtors	-	116
Deferred taxation	1,827	2,460
	43,475	3,001

Amounts due from group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	-	696
Accruals and deferred income	4,000	2,951
	4,000	3,647

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Zedra PO Payments Limited

Notes to the financial statements

For the year ended 31 December 2024

8.	Deferred taxation

		2024
		£

	At beginning of year	2,460
	Charged to profit or loss	(633)
	At end of year	1,827

The deferred tax asset is made up as follows:
	2024	2023
	£	£

	Tax losses carried forward	1,827	2,460
		1,827	2,460

The company has recognised carried forward deferred tax assets amounting to £1,827 (2023: £2,460) relating to unused UK corporation tax losses of £7,307, which are forecast to be realised during the year ending 31 Dec 2025 and will result in an estimated UK tax saving of £1,827. The impact of the change in the rate of UK corporation tax to 25% from 1 April 2023 (announced March 2021) has been factored into the asset based on the forecast realisation date.

9.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

50,000 (2023 - 50,000) Ordinary shares of £1.00 each	50,000	50,000
2 (2023 - 2) Non voting Preference shares of £1.00 each	2	2

	50,002	50,002

On declaration of a dividend the holders of the preference shares are entitled to a priority dividend in an aggregate amount of £150,000, after which all shares rank pari passu with respect to dividends.

10.

Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses.

Page 13


Zedra PO Payments Limited

Notes to the financial statements

For the year ended 31 December 2024

11.	Related party transactions
	As a wholly owned member of the AlTi Group, the company is taking advantage of the exemption offered by FRS102 from disclosing certain related party transactions as they are with other wholly owned subsidiaries of AlTi Global Inc..

12.	Controlling party

As at the year end, the immediate parent undertaking of the company was Zedra Private Office (UK) Ltd, whose registered office is Birchin Court 5th Floor, 19-25 Birchin Lane, London. Group financial statements are not prepared.
The ultimate parent company and controlling party is Corsair Capital Partners Group Limited, a company incorporated in the Cayman Islands. Prior to acquisition the ultimate parent company and controlling party was AlTi Global, Inc., whose registered office is 520 Madison Avenue, 26th Floor New York, NY 10022, United States of America.
The largest and smallest parent company preparing group financial statements is Zedra Holdings SA (Luxembourg). Publicly available consolidated statements are available from Zedra Holdings SA (Luxembourg) at its registered office: 11 Avenue de la Porte-Neave, 2227 Luxembourg and at https://www.lbr.lu. Prior to acquisition the financial statements for the company for the year ending 31 December 2023 were included in the consolidated financial statements of AlTi Global Inc., whose registered office is 520 Madison Avenue, 26th Floor New York, NY 10022, United States of America. Copies of these group financial statements are available to the public at https://www.alti-global .com.

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