MP PAYMENTS OPERATIONS LIMITED

• ⚠

  Material uncertainty over going concern

  As a result of the ultimate parent decision to close operations and the Board concurrence detailed in "Significant events since the end of the financial year, the group notified the Financial Conduct Authority, staff and all customers. Consequently, the going concern basis of preparation was not deemed appropriate and the financial statements have not been prepared on going concern basis.

• ◆

  4 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

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

UK-adopted international accounting standards

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As a result of the ultimate parent decision to close operations and the Board concurrence detailed in "Significant events since the end of the financial year, the group notified the Financial Conduct Authority, staff and all customers. Consequently, the going concern basis of preparation was not deemed appropriate and the financial statements have not been prepared on going concern basis.”

Significant events

• “The ultimate parent, HSBC Holdings plc decided to close the company's operations and the MP Payments Group Board concurred as detailed in the Report of the Directors in the Significant events since the end of the financial year.”
• “Following a strategic review, the ultimate parent, HSBC Holdings plc decided to close the Company and transfer its underlying technology platform to another entity within the HSBC Group. The MP Payments Group Board provided concurrence for the decision and on 22 January 2025 approved the full wind down and liquidation plans.”
• “On 23 January 2025, MP Payment Group publicly announced the decision to wind down operations and liquidate all group companies. It is intended that the Company will be liquidated in the foreseeable future. As a result, $3.4m provision was recognised by the Company for employee termination benefits.”

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

2

last 12 months

Officers resigned

4

last 12 months

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

• Turnover

  —

  Not reported

• Cash

  -58.4%

  £36,147,517 → £15,038,547

• Net assets

  -67.6%

  £55,151,964 → £17,876,946

• Employees

  —

  Not reported

• Operating profit

  -73.1%

  -£40,630,838 → -£70,325,426

• Profit before tax

  -73.1%

  -£40,630,838 → -£70,325,426

• Wages

  +175.1%

  £1,349,148 → £3,711,638

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers