Company No: SC404848 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Current assets
Debtors	3	3,046,355		6,126,864
Cash at bank and in hand		136,554		36,563
		3,182,909		6,163,427
Creditors: amounts falling due within one year	4	( 3,317,382)		( 5,811,869)
Net current (liabilities)/assets		(134,473)		351,558
Total assets less current liabilities		(134,473)		351,558
Provision for liabilities	5	( 1,640)		( 1,640)
Net (liabilities)/assets		( 136,113)		349,918
Capital and reserves
Called-up share capital		1		1
Profit and loss account		( 136,114 )		349,917
Total shareholder's (deficit)/funds		( 136,113)		349,918

For the financial year ending 31 August 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Payment Protection Services Ltd. (registered number: SC404848) were approved and authorised for issue by the Director on 26 August 2026. They were signed on its behalf by:

Mr S McCann Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Payment Protection Services Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael, 227 West George Street, Glasgow, G2 2ND, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £136,113. The Company is supported through loans from an associated company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the associated company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		3

3. Debtors

	2025		2024
	£		£
Other debtors	3,046,355		6,126,864

4. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		4,839
Other taxation and social security	5,782		3,357
Other creditors	3,311,600		5,803,673
	3,317,382		5,811,869

5. Provision for liabilities

	2025		2024
	£		£
Deferred tax	1,640		1,640

6. Related party transactions

Other related party transactions

	2025		2024
	£		£
Amounts due to related parties	(3,302,009)		(5,791,622)
Amounts due from related parties	3,046,355		6,126,864

All loans with related parties are unsecured, interest free and have no fixed terms of repayment.