Registration number:
Tap & Go Limited
for the Year Ended 31 December 2025
Tap & Go Limited
Contents
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Company Information |
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Directors' Report |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Tap & Go Limited
Company Information
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Directors |
Miss CD Wilkinson Mrs A L McDonald Mr J Rosenblatt Mrs N L Eagle Mr M J Strong Mr C Eddlestone |
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Registered office |
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Accountants |
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Tap & Go 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 of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is the supply of card payment services.
Business review
The company continued to develop its card payment services business during the year . Turnover increased to £931,480 in 2025 from £676,076 in 2024, representing growth of approximately 38%, and the directors remain focused on the continued development and commercial growth of the business.
At 31 December 2025, the company's balance sheet reports net liabilities however a significant proportion of the liabilities reported at the year end relates to funding historically provided by International Connections Group Limited ("ICG"), a related undertaking. The financial statements at 31 December 2025 include £1,918,972 within amounts owed to related undertakings and undertakings in which the company has a participating interest.
Subsequent to the year end, the repayment terms relating to the ICG funding were re-negotiated and under this arrangements, £1,456,896.25 of the outstanding principal is repayable only upon a sale of the business or a qualifying part-sale meeting the conditions specified within the agreement with no interest due.
During August 2026, the company made payments totalling £192,500 to ICG, settling in full the short-term obligations under the agreed arrangements.
The directors consider that these arrangements are important when considering the company's financial position and liquidity requirements. In particular, the short-term repayment obligations referred to above have subsequently been settled, while £1,456,896.25 of the ICG funding is repayable only upon the occurrence of a sale of the business or qualifying part-sale, rather than being repayable from the company's ordinary short-term trading cash flows.
Strategic overview
Whilst the business continued to grow during the year, the directors reviewed the companies offering and with a view to broadening it's services with the plan of adding an online ability to transact to its portfolio. We are please to announce that following year end Tap & Go have taken on a third acquiring bank that allows us to do this.
Tap & Go Limited
Directors' Report for the Year Ended 31 December 2025
Future developments
Since the year end, the company has secured external investment through its new acquiring bank, backed by Pollen Street Capital, with the issue of a four year secured convertible loan note. The investment arrangement provides for £750,000 of funding to support the company's working capital and capital expenditure requirements and the continued implementation of its business plan. Part of the funding has also facilitated the settlement of the shorter-term amounts due to ICG referred to above.
The directors have also implemented an Introducer scheme which has started to build momentum. This has brought larger businesses to the company and is something the directors expect to continue in the future.
The directors continue to monitor the company's cash requirements and financial position closely and remain focused on the execution of the company's business plan and the continued development of the business.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Tap & Go Limited
for the Year Ended 31 December 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tap & Go Limited for the year ended 31 December 2025 as set out on pages 5 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Tap & Go Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Tap & Go Limited and state those matters that we have agreed to state to the Board of Directors of Tap & Go Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tap & Go Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Tap & Go Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Tap & Go Limited. You consider that Tap & Go Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Tap & Go Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF
Tap & Go Limited
(Registration number: 12875182)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
( |
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Shareholders' deficit |
( |
( |
For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Tap & Go Limited
(Registration number: 12875182)
Balance Sheet as at 31 December 2025
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Tap & Go Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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 entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Tap & Go Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Office equipment |
25% straight line |
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Fixtures & Fittings |
33% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Tap & Go Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tap & Go Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2025 |
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Additions |
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At 31 December 2025 |
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Depreciation |
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At 1 January 2025 |
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Charge for the year |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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At 31 December 2024 |
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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- |
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Other debtors |
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Tap & Go Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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- |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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2025 |
2024 |
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Due after one year |
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Other non-current financial liabilities |
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- |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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Loans and borrowings |
Current loans and borrowings
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2025 |
2024 |
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Other borrowings |
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- |