ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

Registered number: 08833244

PEOPLE PAYMENTS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2026

PEOPLE PAYMENTS LIMITED

REGISTERED NUMBER:08833244

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2026

		2026		2025
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	570,879		1,790,588
Cash at bank and in hand		652,500		670,723
		1,223,379		2,461,311
Creditors: amounts falling due within one year	6	(1,213,835)		(2,449,000)
Net current assets			9,544		12,311
Creditors: amounts falling due after more than one year	7		-		(8,333)

Net assets			9,544		3,978

Capital and reserves
Called up share capital	9	1,000	1,000
Profit and loss account	10	8,544	2,978
		9,544	3,978

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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

T Hillier

Director

Date: 1 July 2026

The notes on pages 2 to 7 form part of these financial statements.

Page 1

PEOPLE PAYMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	GENERAL INFORMATION

People Payments Limited is a limited liability company incorporated in England and Wales. The registered office is People Group House, Three Horseshoes Walk, Warminster, BA12 9BT.

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 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.

2.2

GOING CONCERN

During the year ended 31 March 2026 the Company made a profit after tax of £5,566 and as at 31 March 2026 had net assets of £9,544. Since the year-end, the Company has traded well and is on target to deliver at indicated performance levels. The Company continues to be reliant on the ongoing support of its fellow group companies, and in turn its funders and shareholders.

The Director has prepared cashflow forecasts, as well as budgeted trading and profit & loss figures which have been prudently prepared. These forecasts demonstrate that the Group will retain an ability to successfully manage cash flows and discharge all liabilities as they fall due, for a minimum period of at least 12 months from signing of these financial statements. Whilst the Director does not anticipate any need for further funding, if any funding was required the Director is confident any requirements for additional funding will be met by the support from the shareholder and the Group's funders.

In addition to the above, the Group has entered into a legally binding agreement whereby each group company agrees to financially support and not withdraw funding to fellow group companies. This confirms support to all group companies such that intercompany balances cannot be withdrawn and funding will be provided to support the going concern basis of accounting of each company, as well as the Group as a whole. In addition management have obtained a letter of support from the ultimate controlling party, Terence Hillier, to provide additional appropriate financial support should it be required.

As such the Director considers it appropriate to prepare the accounts on the going concern basis.

2.3

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 is recognised in the period in which the services are provided on straight line basis, 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 costs incurred are reliably measured.

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PEOPLE PAYMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.4

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.

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.

2.5

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.

2.6

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.

2.7

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.

2.8

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

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PEOPLE PAYMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

3.	JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Preparation of the financial statements requires management to make significant judgements and
estimates.

Recoverability of intercompany debt
Management have assessed the recoverability of intercompany debt, taking into account the financial position of the counterparties and the fact that all balances are with entities wholly owned by People Group Operations Limited. This assessment includes consideration of the ability of each entity to continue as a going concern and the availability of group support where required (see note 2.2). Based on this assessment, management consider the intercompany balances to be recoverable.

EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2025: £NIL).

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PEOPLE PAYMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

DEBTORS

					2026	2025
					£	£


Amounts owed by group undertakings	380,339	1,599,295
Prepayments and accrued income	184,300	184,300
Deferred taxation	6,240	6,993
	570,879	1,790,588

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

6.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2026	2025
		£	£

Bank loans	8,334	10,000
Amounts owed to group undertakings	1,192,467	2,431,250
Other taxation and social security	3,000	3,000
Other creditors	5,284	-
Accruals and deferred income	4,750	4,750
	1,213,835	2,449,000

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

7.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		2026	2025
		£	£

Bank loans	-	8,333
	-	8,333

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PEOPLE PAYMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans	8,334	10,000
	8,334	10,000
AMOUNTS FALLING DUE 1-2 YEARS
Bank loans	-	8,333


	8,334	18,333

This loan relates to an unsecured bounce back loan facility taken out by the Company on 13 January 2021. The total value of the loan was £51,250. The loan is being repaid over a fixed term of 74 months with a 2% interest rate, which is due to be fully repaid by 13 March 2027.

9.	SHARE CAPITAL
		2026	2025
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

100,000 (2025: 100,000) Ordinary A shares of £0.01 each	1,000	1,000

10.

RESERVES

Profit and loss account

The profit and loss account includes all current and prior year retained profits and losses.

11.

RELATED PARTY TRANSACTIONS

As a wholly owned subsidiary of People Group Operations Limited, a company incorporated in England and Wales, the Company is able to take advantage of the exemption under the terms of FRS102 section 33.1a from disclosing related party transactions with wholly owned entities that are part of the same group.

During the year the Company received payments of £5,284 from T Hillier in relation to a financed vehicle, at year end amounts payable included within creditors were £5,284.

12.	CONTROLLING PARTY

The immediate parent undertaking is People Group Operations Limited and the ultimate controlling party is T Hillier.

Page 6

PEOPLE PAYMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

13.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 March 2026 was unqualified.

The audit report was signed on 14 July 2026 by Stuart Crisp BSc FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

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