MP PAYMENTS UK LIMITED

• ⚠

  Material uncertainty over going concern

  As a result of the ultimate parent decision to close group operations and the Board concurrence detailed in Significant events since the end of the financial year, the Company notified the FCA and staff of its future plans. The Company also notified customers and set a timeline to withdraw its e-money services and to close its Zing App on 22 May 2025. 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

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.

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 group operations and the Board concurrence detailed in Significant events since the end of the financial year, the Company notified the FCA and staff of its future plans. The Company also notified customers and set a timeline to withdraw its e-money services and to close its Zing App on 22 May 2025. 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

• “During the year ended 31 December 2024 the Company received £12.2m investment from MP Payments Group Limited. 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's operations and transfer its "Zing App" 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.”
• “The Company requested for FCA de-authorisation after closing the Zing App and ceasing to offer e-money services to customers on 22 May 2025. The Company, after the FCA approval will begin the process of orderly wind down and liquidation.”
• “The MP Payment Group publicly announced in January 2025 the decision to wind down operations and liquidate all group companies. The Company closed the Zing App and ceased providing e-money services to customers on 22 May 2025. It is intended that the Company will be liquidated, once de-authorised by the FCA.”

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

2

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.