PAYRNET LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-07-08 (in 2mo)
Last made up 2025-06-24
Watchouts
Cash
£8M
-34.1% vs 2023
Net assets
£9M
-27.6% vs 2023
Employees
0
Average over period
Profit before tax
-£4M
-261.3% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
5-year trend · vs Financials median
Accounts
5-year trend · latest reflected 2024-12-31
| Metric | Trend | 2022-01-01 | 2022-12-31 | 2023-01-01 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|
| Turnover | — | £8,865,915 | — | £17,674,966 | £17,103,965 | |
| Operating profit | — | -£1,142,493 | — | £2,010,804 | -£4,502,543 | |
| Profit before tax | — | -£1,147,128 | — | £2,407,262 | -£3,883,304 | |
| Net profit | — | -£1,041,282 | — | £1,991,175 | -£3,468,346 | |
| Cash | £4,440,579 | £12,070,032 | £12,070,032 | £12,137,521 | £7,997,270 | |
| Total assets less current liabilities | — | £6,676,004 | — | £12,575,601 | £12,687,255 | |
| Net assets | — | £6,676,004 | — | £12,575,601 | £9,107,255 | |
| Equity | £2,624,441 | £6,676,004 | £7,084,426 | £12,575,601 | £9,107,255 | |
| Average employees | — | 0 | — | 0 | 0 | |
| Wages | — | — | — | — | — |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2022-01-01 | 2022-12-31 | 2023-01-01 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|
| Operating margin | — | -12.9% | — | 11.4% | -26.3% | |
| Net margin | — | -11.7% | — | 11.3% | -20.3% | |
| Return on capital employed | — | -17.1% | — | 16.0% | -35.5% | |
| Interest cover | — | -246.49x | — | — | — |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- BKL Audit LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared using the going concern basis of accounting. The directors are confident that the Company has sufficient resources to meet its debt obligations as they fall due for a period of at least twelve months from the approval of the financial statements.”
Significant events
- “In May 2024, the FCA modified the Voluntary Requirement (VREQ) restrictions previously placed on the Company, allowing PayrNet to resume onboarding new customers in the UK.”
- “On 28 April 2025, subsequent to the year end, Embedded Finance Limited was acquired by Alakazam Holdings Limited, a newly formed entity controlled by a consortium of existing EFL investors, and new investors TowerBrook Capital Partners and JC Flowers & Co. This acquisition coincided with the merger of EFL and Equals Money PLC, creating one of the largest Embedded Finance offerings in Europe.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 13 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BRAITHWAITE, Wendy Nicole | Secretary | 2024-03-15 | — | — |
| GAGIE, David Ronald | Director | 2025-09-18 | Feb 1955 | British |
| STRAFFORD-TAYLOR, Ian Alexander Irving | Director | 2025-11-27 | Oct 1960 | British |
Show 13 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MARES, Fiona | Secretary | 2019-06-28 | 2023-07-07 |
| MITCHELL, Clive William | Secretary | 2015-11-23 | 2021-02-17 |
| MORRIS, James Dominic | Secretary | 2021-02-19 | 2023-05-25 |
| CHARTERIS, John Nicolas Robert Dunbar | Director | 2021-02-19 | 2021-10-18 |
| COUTTIE, Stephen | Director | 2019-06-28 | 2024-03-15 |
| HAZLETON, Tomas Joseph | Director | 2024-03-15 | 2025-05-15 |
| JORDAN, Iwona Monika | Director | 2024-03-15 | 2025-12-03 |
| KITCHEN, Gerald | Director | 2015-11-23 | 2019-05-24 |
| KNEVITT, David Cecil John | Director | 2015-11-23 | 2019-05-24 |
| MITCHELL, Clive William | Director | 2015-11-23 | 2021-02-17 |
| MOREL, Philippe | Director | 2024-03-15 | 2025-11-07 |
| MURRAY, Louisa Mary | Director | 2021-02-19 | 2024-03-15 |
| VERDON, Nigel George Swinburne | Director | 2015-11-23 | 2023-03-09 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| D Squared Capital Limited | Corporate entity | Shares 75–100%, ownership-of-shares-75-to-100-percent-as-firm, Voting 75–100%, Appoints directors, significant-influence-or-control-as-firm | 2023-03-09 | Ceased 2023-03-09 |
| Embedded Finance Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2023-03-09 | Active |
| Railsbank Technology Limited | Corporate entity | Shares 75–100% | 2019-05-24 | Ceased 2023-03-09 |
| Mr Nigel George Swinburne Verdon | Individual | Shares 25–50%, Voting 25–50% | 2016-11-23 | Ceased 2019-05-24 |
| Mr David Cecil John Knevitt | Individual | Shares 25–50%, Voting 25–50% | 2016-11-23 | Ceased 2019-05-24 |
Filing timeline
Last 20 of 85 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-01-08 MA Memorandum articles
- 2026-01-08 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-08 | MA | incorporation | Memorandum articles | |
| 2026-01-08 | RESOLUTIONS | resolution | Resolution | |
| 2025-12-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-08 | AA | accounts | Accounts with accounts type full | |
| 2025-12-05 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-27 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-12 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-19 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-24 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-07-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-17 | TM01 | officers | Termination director company with name termination date | |
| 2025-05-01 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-10-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-03 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-08-22 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2024-07-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-05-30 | AA | accounts | Accounts with accounts type full | |
| 2024-03-27 | AP01 | officers | Appoint person director company with name date | |
| 2024-03-26 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-03-26 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 12
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 3
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-3.2%
£17,674,966 £17,103,965
-
Cash
-34.1%
£12,137,521 £7,997,270
-
Net assets
-27.6%
£12,575,601 £9,107,255
-
Employees
—
Not reported
-
Operating profit
-323.9%
£2,010,804 -£4,502,543
lowest in 3 filed years
-
Profit before tax
-261.3%
£2,407,262 -£3,883,304
lowest in 3 filed years
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