Company registration number 14870211 (England and Wales)
9Y FUNDING 1 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
9Y FUNDING 1 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
9Y FUNDING 1 LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
4
25,364,275
18,893,923
Cash at bank and in hand
344,833
50,782
25,709,108
18,944,705
Creditors: amounts falling due within one year
5
(25,856,284)
(19,076,203)
Net current liabilities
(147,176)
(131,498)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(147,276)
(131,598)
Total equity
(147,176)
(131,498)

The notes on pages 2 to 6 form part of these financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 19 May 2026 and are signed on its behalf by:
Mrs K J Bennett
Mr S D Johnson
Director
Director
Company registration number 14870211 (England and Wales)
9Y FUNDING 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

9Y Funding 1 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Create Business Hub, Rayleigh Road, Hutton, Brentwood, Essex, CM13 1AB.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net liabilities as at 31 December 202 5 of £147,276. The company's liabilities include borrowings from group companies of £10,100,077 as set out in note 5. The company has received assurances that it will continue to receive financial support from other group companies and that repayment of group borrowings will not be demanded unless the company has the financial ability to make repayment of these loans, without impacting on its ability to meet its other liabilities as they fall due. The directors have prepared forecasts taking account of reasonable possible changes in trading performance. These forecasts, together with the support of other group companies, show that the company will have sufficient financial resources to continue in operational existence for the foreseeable future.

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Fees and Commission receivable consists of application, arrangement, monitoring and exit fees receivable from the customer and are recognised when they are due from the customer.

Interest receivable on bridging and development loans provided to customers is calculated on a daily basis using the effective interest rate applicable and is recognised as its charged to the customer under the loan agreement. The amount outstanding is regarded as the original loan advanced plus any contractual drawdowns less any capital repayments made since its inception.

Fees and nterest receivable from customers is recognised once it can be measured reliably and it is probable that the economic benefit associated with the transaction will flow to the entity.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

9Y FUNDING 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

9Y FUNDING 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements have had the most significant effect on the amounts recognised in the financial statements.

Recoverable value of customer loan book

When assessing the potential for any impairment of a customer loan, management considers factors that include the current credit rating of the borrower, previous activity and any other historical factors that could be relevant.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
9Y FUNDING 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Customer loans
24,998,351
18,534,644
Prepayments and accrued income
315,821
310,741
25,314,172
18,845,385
2025
2024
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 6)
50,103
48,538
Total debtors
25,364,275
18,893,923
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
110,803
92,438
Amounts owed to group undertakings
10,100,077
7,004,570
Other creditors
15,645,404
11,979,195
25,856,284
19,076,203

Included within other creditors are borrowings amounting to £15,635,026 (2024 - £11,959,400) which are secured by a combination of fixed and floating charges. The fixed charge covers the company’s present and future property, equipment, intellectual property, receivables, bank accounts, goodwill, and certain other tangible and intangible assets.

A floating charge applies to all other assets of the company, including its parent, and any assets located in Scotland. The facility agreement also includes a negative pledge, which restricts the company from creating further security without the lender’s prior consent

6
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2025
2024
Balances:
£
£
Tax losses
50,103
48,538
9Y FUNDING 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
6
Deferred taxation
(Continued)
- 6 -
2025
Movements in the year:
£
Asset at 1 January 2025
(48,538)
Credit to profit or loss
(1,565)
Asset at 31 December 2025
(50,103)

The directors have considered the likelihood of the company producing future trading profits which will enable it to relieve the tax losses which have accumulated in the short term. The company has recognised a deferred tax asset in relation to unrelieved tax losses of approximately £137,000 (2024 - £180,000) which are available to be offset against future trading profits.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Stuart Heaney
Statutory Auditor:
Henton & Co LLP
Date of audit report:
26 May 2026
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