ONAFRIQ UK LIMITED

• ⚠

  Annual accounts overdue

  Due 2025-12-31.

• ⚠

  Material uncertainty over going concern

  We draw attention to note 17 in the financial statements, which indicates that the company ability to continue as a going concern is dependent on funding from its ultimate parent company (Onafriq UK Holdings Limited) (the "Group"). Note 17 also details the ability of the Group to meet its financial liabilities and provide such financial support relies on raising new debt and fundraising from existing shareholders. The fundraising activities have not been fully concluded as of the report date As stated in note 17, these events or conditions, along with the other matters as set forth in note 17, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.

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

• Turnover

  +204.5%

  £2,708,668 → £8,247,285

  highest in 4 filed years

• Cash

  +1,708.1%

  £198,418 → £3,587,622

  highest in 4 filed years

• Net assets

  +178.1%

  £2,639,199 → £7,339,089

  highest in 4 filed years

• Employees

  -13.3%

  15 → 13

• Operating profit

  +347.1%

  -£1,516,132 → £3,746,463

  highest in 4 filed years

• Profit before tax

  +413.1%

  -£1,261,217 → £3,949,218

  highest in 4 filed years

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

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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

1. ONAFRIQ UK LIMITED 2023-10-31 → present
2. MFS AFRICA UK LIMITED 2013-03-07 → 2023-10-31

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 17 in the financial statements, which indicates that the company ability to continue as a going concern is dependent on funding from its ultimate parent company (Onafriq UK Holdings Limited) (the "Group"). Note 17 also details the ability of the Group to meet its financial liabilities and provide such financial support relies on raising new debt and fundraising from existing shareholders. The fundraising activities have not been fully concluded as of the report date As stated in note 17, these events or conditions, along with the other matters as set forth in note 17, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.”

Group structure

1. ONAFRIQ UK LIMITED · parent
   1. MFS Africa Payment Processing Ltd · Spain · dormant
   2. Simbapay Limited 0.906% · Bristol · payments aggregator

Significant events

• “The Company entered into a intercompany repayment and settlement agreement with Onafriq UK Holdings Limited and Onafriq Mauritius Limited whereby Onafriq UK Holdings Limited will invest an amount of £1,166,667 into Onafriq UK Limited, split into equal instalments of £583,333 each on 31 January 2024 and 30 April 2024. Additionally, Onafriq Mauritius Limited shall also make a payment of GBP 601,979 on behalf of Onafriq UK Holdings Limited to the Company on 31 July 2024. This will be settled in cash.”

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

Filings

5

last 12 months

Capital events

1

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.