MONESE LTD

• ⚠

  Annual accounts overdue

  Due 2025-12-31.

• ⚠

  Material uncertainty over going concern

  As the going concern status of the company is dependent upon securing funds and upon the improved performance of the business against forecasts and cash flow projections, the directors are of the opinion that the matters described above represent material uncertainties, as actual outcomes may differ to expectations. Notwithstanding these material uncertainties, the directors have a reasonable expectation the company will continue to be successful raising additional funds to implement its strategy on the path to future profitability, and that the company has access to adequate resources to fund operations for at least twelve months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Latest accounts filed cover 2023-12-31; financial figures currently reflect up to 2022-12-31.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Blick Rothenberg Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As the going concern status of the company is dependent upon securing funds and upon the improved performance of the business against forecasts and cash flow projections, the directors are of the opinion that the matters described above represent material uncertainties, as actual outcomes may differ to expectations. Notwithstanding these material uncertainties, the directors have a reasonable expectation the company will continue to be successful raising additional funds to implement its strategy on the path to future profitability, and that the company has access to adequate resources to fund operations for at least twelve months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.”

Group structure

1. MONESE LTD · parent
   1. Monese Finance Ltd 100% · United Kingdom · Provision of financial services
   2. Monese EU SA 100% · Belgium · Provision of financial services
   3. Monese Credit Limited 100% · Ireland · Provision of financial services
   4. Monese Europe OU 100% · Estonia · Provision of financial services
   5. XYB Limited 100% · United Kingdom · Provision of Banking-as-a-Service

Significant events

• “In January 2023 Monese formalised the development of its platform business with the creation of a wholly owned, unregulated subsidiary (XYB Ltd.) and the transfer of the B2B platform business from Monese Ltd to this company.”
• “In July 2023 XYB completed the delivery of a software platform code-fork, with a considerable one-off fee of £21.2m, received in tranches, that accelerated revenues and significantly improved the cash position of the group. This related to a code fork sale and services contracts for a customer to acquire an instance of the technology platform.”
• “In December 2023, Monese signed a partnership worth $5.1m with a leading systems integrator for services we provide to platform customers and to increase the delivery bandwidth of the platform business, which also accelerated revenue and improved the cash position of the group.”
• “By way of direct investment in it's own right, XYB Ltd exited the Monese group in April 2024.”
• “The company was acquired by Pockit Ltd in December 2024, securing £6m of equity funding into the Monese group.”
• “On 20 June 2025 the company became party to a security agreement along with its parent Pockit Limited for funding facility at Pockit Limited. As a result there is a fixed and floating charge over assets of the company.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

9

last 12 months

Capital events

4

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  +123.1%

  £5,695,806 → £12,707,025

• Net assets

  +390.8%

  -£2,955,340 → £8,595,033

• Employees

  +39.1%

  248 → 345

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers