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Registered number: 14714633 RED KITE FF1 LTD DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
RED KITE FF1 LTD
CONTENTS
| Page
Statement of Financial Position | 1
Notes to the Financial Statements | 2 - 5
RED KITE FF1 LTD REGISTERED NUMBER:14714633
STATEMENT OF FINANCIAL POSITION AS AT 31 MAY 2025
| 2025 | 2024
Note | £ | £
Current assets |  |  |
Debtors: amounts falling due after more than one year | 4 | 60,797 | 922,844
Debtors: amounts falling due within one year | 4 | 9,529,620 | 2,984,998
Cash at bank and in hand |  | 6,733 | 81,340
|  | 9,597,150 | 3,989,182
Current liabilities |  |  |
Creditors: amounts falling due within one year | 5 | (296,178) | (66,149)
Net current assets |  | 9,300,972 | 3,923,033
Non-current liabilities |  |  |
Creditors: amounts falling due after more than one year | 6 | (9,273,212) | (3,926,127)
Net assets/(liabilities) |  | 27,760 | (3,094)
Capital and reserves |  |  |
Called up share capital | 7 | 1 | 1
Profit and loss account |  | 27,759 | (3,095)
|  | 27,760 | (3,094)
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 November 2025.
M A Robins | J J Francis
Director | Director
The notes on pages 2 to 5 form part of these financial statements. Page 1
RED KITE FF1 LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Red Kite FF1 Ltd is a private limited company incorporated in England and Wales with its registered office address at Ty Menter, Navigation Park, Abercynon, Mountain Ash, CF45 4SN. The Company was incorporated on 8 March 2023 and commenced trading on the same date. The principal activity of the company is providing short-term bridging and development loans. The Company's functional and presentational currency is £ Sterling. 2.Accounting policies The principal accounting policies applied in the preparation of these financial statements are set out below.
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, and the Companies Act 2006.
| 2.2 | Turnover
Turnover represents interest, commissions and fees earned in respect of loans made to customers. Interest income and commissions and fees that are directly related to loans made are recognised using the effective interest method. Commissions and fees that are not directly related to loans made to customers are recognised when the service has been provided.
| 2.3 | Interest payable and similar expenses
Interest costs and borrowing fees that are directly related to specific loans are recognised using the effective interest method. Facility fees that are not directly related to specific loans are recognised on a straight-line basis over the life of the facility.
| 2.4 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.5 | Financial instruments
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. The Company enters into financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans to third parties, and loans from fellow subsidiaries, banks and other third parties. The directors consider that all the Company’s financial instruments, including loans to and from third parties, fall within the FRS 102 definition of “basic” financial instruments. Page 2
RED KITE FF1 LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.5 | Financial instruments (continued)
Debt instruments (other than those that are non-interest bearing and wholly payable or receivable within one year) are initially measured at the transaction price (adjusted for transaction costs) and subsequently at amortised cost using the effective interest method. Non-interest bearing debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently at the undiscounted amount of cash or other consideration expected to be received or paid. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
| 2.6 | Comparative figures
Comparative figures in the Statement of Comprehensive Income and related disclosures in these Notes are for the period from 8 March 2023 to 31 May 2024.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
Page 3
RED KITE FF1 LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
4. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Debtors: amounts falling due after more than one year |  |
| Loans to customers | - | 860,234
| Prepayments and accrued income | 60,797 | 62,610
|  | 60,797 | 922,844
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Debtors: amounts falling due within one year |  |
| Loans to customers | 7,891,624 | 2,964,128
| Other debtors | 1,603,255 | -
| Prepayments and accrued income | 34,741 | 20,870
|  | 9,529,620 | 2,984,998
5. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 118,829 | 52,181
| Trade creditors | 1,250 | -
| Amounts owed to group undertakings | 174,724 | 12,085
| Accruals and deferred income | 1,375 | 1,883
|  | 296,178 | 66,149
| Details of the security for other loans are set out in note 6.
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RED KITE FF1 LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
6. | Creditors: amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 6,650,000 | 1,710,000
| Amounts owed to group undertakings | 2,623,212 | 2,216,127
|  | 9,273,212 | 3,926,127
| Other loans have been granted for an initial period of 48 months and are subject to 9.50% interest per annum payable on a quarterly basis. The loan providers have agreed to provide an available credit facility of up to £10,000,000. The total available facility can be drawn down 12 months before the repayment date. Other loans are secured by fixed and floating charges over the Company's assets and by a guarantee from its parent company.
7. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2024 - 1) Ordinary share of £1 | 1 | 1
8. | Controlling party
The Company is a wholly-owned subsidiary of Red Kite Lending Ltd, a company registered in England and Wales, which the directors regard as the ultimate parent company.
9. | Auditors' information
The auditors' report on the financial statements for the year ended 31 May 2025 was unqualified. The audit report was signed on 14 November 2025 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.
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