APRIL MORTGAGES LIMITED

Company Registration Number:
13514833 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

APRIL MORTGAGES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

APRIL MORTGAGES LIMITED

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Principal activities of the company

April Mortgages Limited (April or the Company) is a new UK residential mortgage lender. It received authorisation as a mortgage administrator and lender from the Financial Conduct Authority, number 989666, in October 2023. During the year under review April completed building its IT and operational capabilities. April Mortgages Limited opened to new business in November 2023 with a limited number of business partners. In 2024, the Company became fully operational, with lending activity commencing in May. By the end of the year, April had originated 40 mortgage loans at a value of £10 million, marking a successful transition into live trading. Administrative expenses continued to be funded by the Company’s parent via a subordinated debt facility and additional share capital. The Company also grew its operational capacity throughout the year, increasing its number of full-time permanent employees to 19 by year-end; 2023: 8. The company entered a funding agreement with April Funding 1 Limited, providing sufficient funds for lending according to its business plans.



Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

Dirk Bekkers
Peter Haines
Emma Huepfl
Rolf Nuijens
Jeroen van Hessen


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
29 July 2025

And signed on behalf of the board by:
Name: Dirk Bekkers
Status: Director

APRIL MORTGAGES LIMITED

Profit And Loss Account

for the Period Ended 31 December 2024

2024 2023


£

£
Turnover: 146,000 0
Cost of sales: ( 184,000 ) 0
Gross profit(or loss): (38,000) 0
Distribution costs: 0 0
Administrative expenses: ( 3,398,000 ) ( 3,497,000 )
Other operating income: 0 0
Operating profit(or loss): (3,436,000) (3,497,000)
Interest receivable and similar income: 8,000 64,000
Interest payable and similar charges: ( 337,000 ) ( 336,000 )
Profit(or loss) before tax: (3,765,000) (3,769,000)
Tax: 0 0
Profit(or loss) for the financial year: (3,765,000) (3,769,000)

APRIL MORTGAGES LIMITED

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 32,000 27,000
Investments:   0 0
Total fixed assets: 32,000 27,000
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 457,000 488,000
Investments:   0 0
Total current assets: 457,000 488,000
Prepayments and accrued income: 30,000 0
Creditors: amounts falling due within one year: 4 ( 374,000 ) ( 494,000 )
Net current assets (liabilities): 113,000 (6,000)
Total assets less current liabilities: 145,000 21,000
Creditors: amounts falling due after more than one year: 5 ( 6,951,000 ) ( 4,339,000 )
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (6,806,000) (4,318,000)
Capital and reserves
Called up share capital: 2,000,000 1,101,000
Share premium account: 379,000 0
Profit and loss account: (9,185,000 ) (5,419,000 )
Total Shareholders' funds: ( 6,806,000 ) (4,318,000)

The notes form part of these financial statements

APRIL MORTGAGES LIMITED

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 July 2025
and signed on behalf of the board by:

Name: Dirk Bekkers
Status: Director

The notes form part of these financial statements

APRIL MORTGAGES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Tangible fixed assets depreciation policy

    Expenditure on office equipment, IT equipment, and similar assets is accounted for as follows: Low-value assets (costing £200 or less) are expensed in the year of acquisition. Assets exceeding £200 are capitalised and depreciated over 36 months, with depreciation commencing from the month following acquisition. This ensures that smaller purchases are immediately recognised as expenses, while higher-value assets are systematically allocated over their useful life.

APRIL MORTGAGES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 15 8

APRIL MORTGAGES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 36,000 36,000
Additions 19,000 19,000
Disposals 0 0
Revaluations 0 0
Transfers 0 0
At 31 December 2024 55,000 55,000
Depreciation
At 1 January 2024 9,000 9,000
Charge for year 14,000 14,000
On disposals 0 0
Other adjustments 0 0
At 31 December 2024 23,000 23,000
Net book value
At 31 December 2024 32,000 32,000
At 31 December 2023 27,000 27,000

APRIL MORTGAGES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 374,000 494,000
Total 374,000 494,000

APRIL MORTGAGES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 6,951,000 4,339,000
Total 6,951,000 4,339,000