Authorised, but in an insolvency process
This firm is under the control of insolvency practitioners and may have stopped taking on new business. If you are or were a customer, deal with the appointed office holders rather than the firm.
- No FCA actions
- Accounts filed up to 31 December 2023
- Company: in liquidation
- Accounts are overdue at Companies House
- Confirmation statement is overdue at Companies House
- Its phone number is also given by a firm that is no longer authorised
What the FCA says
ATTENTION - Firm in an insolvency process
This firm is in an insolvency process. It is under the control of the appointed insolvency office holder(s) and may have stopped taking on new business. It has to continue to meet our standards in line with its regulatory status, including when dealing with its customers. If you are/were a customer check how this affects you with the firm or the appointed insolvency office holder(s).
Website, phone number and address
Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.
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No website on the FCA register
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Phone number
Also given by 2 firms that are no longer authorised. Check you are dealing with the firm on this page.
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Address
c/o D POSTLES, THE CIVIC CENTRE, BARRAS BRIDGE, Newcastle upon Tyne, NE1 8QF, United Kingdom
In the full report: 2 background checks
- What kind of line 0300 678 0016 is, and the 10 other firms that give it
- Who else gives the postcode NE1 8QF
Past FCA permissions and consumer protection
- In an insolvency processMoney the firm held is returned through the appointed office holders, which takes time and can fall short. The FSCS covers eligible claims up to its limits, and the Ombudsman can still look at a complaint.
Show FCA detail (3 permissions)
- 3. Executing payment transactions (no credit line)
- 5. Issuing and/or acquiring of payment instruments.
- 6. Money remittance.
Limits on the record
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Not onboard any new customers
Not onboard any new customers except with the Authority’s prior written consent.
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Not accept any new funds from any payment service users (“PSUs”) for the purposes of providing payment services
Not accept any new funds from any payment service users (“PSUs”) for the purposes of providing payment services, except with the Authority’s prior written consent
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Refrain from providing any regulated payment services (either directly or via outsourced partners) to any existing customers
Refrain from providing any regulated payment services (either directly or via outsourced partners) to any existing customers without the prior written consent of the Authority.
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Not to diminish assets
Not, without the prior written consent of the Authority, in any way dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets, and any funds it holds for, or to the order of, its customers (whether in the United Kingdom or elsewhere), except for: a. Payments in the ordinary and proper course of business; or b. Payments for reasonable advisor fees.
FCA disciplinary action and complaints
No FCA disciplinary action.
The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.
Companies House record
The company behind the firm: its status, age, registered office and directors.
Concerns on the company record
- Companies House records this company in liquidation, but it is still authorised on the FCA register.
- Accounts are overdue at Companies House.
- Confirmation statement is overdue at Companies House.
- This company has insolvency history on record.
- Company number
- 09749104 (opens Companies House in a new tab)
- Company status
- Liquidation
- Company type
- Private limited company
- Incorporated
- 26 August 2015 (11 years old)
- Registered office
- C/O OPUS RESTRUCTURING LLP, 1 Radian Court Knowlhill, Milton Keynes, MK5 8PJ
- Nature of business
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- Financial intermediation not elsewhere classified (SIC 64999)
Directors and company secretaries
| Name | Role | Born | Appointed | Other companies |
|---|---|---|---|---|
| Preethy Kurian | Director | Oct 1974 | 26 Aug 2015 | 4 other companies |
| Rakesh Kurian | Director | Aug 1971 | 26 Aug 2015 | 1 other company |
| Sarayu Dharmaraj | Director | Mar 1986 | 16 Oct 2015 | 2 other companies |
Other companies run by these 3 directors
A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.
- other companies
- 5
- closed down
- 1
- went insolvent
- 1
In the full report: all 5 companies, named
- What each company does, and whether it is still trading
- Which of these 3 directors sit on each board, and since when
- The one that went into liquidation or administration
- The one on the FCA register, including one no longer authorised
- The 2 companies these 3 directors run together
Filed accounts and finances
Net assets
£867k
−7.6% from £939k
Cash at bank
£125k
−75% from £497k
Employees (average)
25
−19% from 31
Owed within a year
£2.74m
+128% from £1.20m
Its next accounts are overdue at Companies House.
Assets and liabilities
In the full report: all 5 years of accounts
- Every year from 2019 to 2023
- The chart, over every year
- Every filed figure, year by year
About these figures
- Turnover
- Money taken from sales in the year, before any costs.
- Profit before tax
- What was left after the year’s costs, before corporation tax. A minus figure is a loss.
- Net assets, or total equity
- Everything the company owns minus everything it owes. A minus figure means it owes more than it owns.
- Total assets and total liabilities
- Everything the company owns, and everything it owes, on the last day of the year. The gap between them is its net assets.
- Cash at bank
- Money in the company’s accounts on the last day of the year.
- Owed within a year, owed after a year
- Debts and bills due in the next twelve months, and those due later.
There is no turnover or profit: small companies do not have to publish them.
Accounts filed at Companies House for company 09749104. Every figure is as filed, apart from total assets and total liabilities, which are added up from filed figures. Nothing is estimated.
Key dates in its history
Crosspay’s history from the FCA register and Companies House, newest first.
2024
6 December 2024
- FCA imposed a requirement (Not accept any new funds from any payment service users (“PSUs”) for the purposes of providing payment services)
- FCA imposed a requirement (Not onboard any new customers)
- FCA imposed a requirement (Not to diminish assets)
- FCA imposed a requirement (Refrain from providing any regulated payment services (either directly or via outsourced partners) to any existing customers)
FCA register
2019
31 October 2019
- Crosspay Group Holding Limited took control (75–100% of shares)
- Preethy Kurian stopped being a part-owner
- Rakesh Kurian stopped being a part-owner
Companies House
2018
5 July 2018
- Sarayu Dharmaraj no longer has significant control
Companies House
9 March 2018
- Became an authorised payment institution
FCA register
2016
25 August 2016
- Preethy Kurian became a part-owner (25–50% of shares)
- Rakesh Kurian became a part-owner (25–50% of shares)
- Sarayu Dharmaraj gained significant control
Companies House
24 August 2016
- Regulated by the FCA from this date
FCA register
2015
1 December 2015
- Supervised by HMRC under the money laundering rules from this date
FCA register
26 August 2015
- Incorporated at Companies House
Companies House
In the full report: all 18 events
- All 18 events in its history (15 shown here)
- Every director appointment and resignation: 3
Firms connected to Crosspay
Other FCA-listed firms that share a director, phone number or address with Crosspay. A link shows who the firm is tied to, not whether either can be trusted.
- connected firms
- 12
- no longer authorised
- 3
- share its phone number
- 10
In the full report: all 12 connected firms, named
- How each is linked: the same phone number (10), the same postcode (3)
- Who links each one: the named directors, with dates
- 1 past link through former directors
Firms like Crosspay
Other firms of the same type (payment or money transfer firm), nearest first.
In Newcastle upon Tyne
Firms are listed by type and location, best known first. Being listed is not a recommendation: check any firm before you deal with it.
Get the full report on Crosspay
Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.
- 5 other companies its directors have run, named
- 2 background checks on its contact details
- 5 years of accounts, charted
- All 18 events in its history
- 12 connected firms, named, and who links them
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Frequently asked questions about this firm
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Sources and links
- Its entry on the FCA register register.fca.org.uk
- Its Companies House record gov.uk
- Report a scam to the FCA fca.org.uk