Company registration number 13412408 (England and Wales)
KYN BICKLEY LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
KYN BICKLEY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
KYN BICKLEY LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
0
154,509
Tangible assets
5
272,187
264,500
272,187
419,009
Current assets
Stocks
16,954
-
Debtors
6
1,377,403
524,206
Cash at bank and in hand
149,675
46,530
1,544,032
570,736
Creditors: amounts falling due within one year
7
(1,249,366)
(2,688,440)
Net current assets/(liabilities)
294,666
(2,117,704)
Net assets/(liabilities)
566,853
(1,698,695)
Capital and reserves
Called up share capital
8
3,751,481
1,436,001
Profit and loss reserves
(3,184,628)
(3,134,696)
Total equity
566,853
(1,698,695)

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 2 July 2026 and are signed on its behalf by:
S P Lim
Director
Company registration number 13412408 (England and Wales)
KYN BICKLEY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -
1
Accounting policies
Company information

KYN Bickley Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 73 Cornhill, London, EC3V 3QQ. The trading address is Bickley Park Road, Bromley, London, BR1 2AZ.

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 financial statements have been prepared on a going concern basis, which contemplates the continuity of normal business activities and the realisation of assets and discharge of liabilities in the normal course of business. true

As of 30 September 2025 the Company together with its parent undertaking and fellow subsidiary undertaking breached specific covenants as set out in Facility Agreement with Clydesdale Bank Plc (trading as Virgin money). These covenants were related to the profitability of the company in the early years of trading while the home was filling with residents.

Under the terms of the agreement, this breach gives the lender the right to demand repayment of the outstanding loan balance, which amounted to £24,5 00,000 at 30 September 2025. This indicates a material uncertainty which may cast doubt on the Company’s ability to continue as a going concern.

The company is in active discussions with the lender to restructure the covenants contained in the loan agreement. While an agreement has been reached in principal, a binding agreement has not been executed as at the date of approval of these financial statements. The Directors have considered the position carefully, including the regularity and constructive nature of communications with the lender to date, and are confident that a formal agreement will be concluded. Taking into account the projected operational cashflows, the Directors therefore consider it appropriate to prepare the financial statements on a going concern basis.

However, if these plans are unsuccessful and the lender demands repayment, the company may not have sufficient liquidity to repay the loan, which would require the company to source additional capital from its ultimate parent undertaking or alternate lenders.

These financial statements do not include any adjustments that would result if the plans are unsuccessful.

1.3
Turnover

Turnover represents fee income relating to the provision of care services, net of value added tax. Fee income comprises care fees which are recognised when the delivery of the service is completed. Fees invoiced in advance are included as deferred income until the service is completed.

KYN BICKLEY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
Over 5 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
Over 3 years
IT Equipment
Over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

KYN BICKLEY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
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.

1.9
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 and loans from fellow group companies 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.

KYN BICKLEY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.10
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.

1.11
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.

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.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

KYN BICKLEY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 6 -
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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Amortisation and depreciation, useful lives and residual values of intangible and tangible fixed assets

The directors estimate the useful lives and residual values of tangible assets in order to calculate the amortisation and depreciation charge. In assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Changes in these estimates could result in changes being required to the annual charges in the profit and loss account and the carrying values of these assets in the balance sheet.

3
Employees

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

2025
2024
Number
Number
Total
127
78
4
Intangible fixed assets
Software
£
Cost
At 1 October 2024
222,784
Transfers
(222,784)
At 30 September 2025
-
0
Amortisation and impairment
At 1 October 2024
68,275
Amortisation charged for the year
(68,275)
At 30 September 2025
-
0
Carrying amount
At 30 September 2025
-
0
At 30 September 2024
154,509
KYN BICKLEY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
4
Intangible fixed assets
(Continued)
- 7 -

During the year, s oftware costs of £222,784 previously capitalised within intangible fixed assets were fully written off following a review which concluded that the costs did not meet the recognition criteria under FRS 102. Upon derecognition, accumulated amortisation of £68,275 was reversed.

5
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 October 2024
470,663
Additions
201,013
Disposals
(8,984)
At 30 September 2025
662,692
Depreciation and impairment
At 1 October 2024
206,163
Depreciation charged in the year
184,342
At 30 September 2025
390,505
Carrying amount
At 30 September 2025
272,187
At 30 September 2024
264,500
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
611,344
460,710
Amounts owed by group undertakings
573,690
15,089
Other debtors
192,369
48,407
1,377,403
524,206
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
307,273
179,746
Amounts owed to group undertakings
46,557
1,982,861
Taxation and social security
108,279
72,119
Other creditors
787,257
453,714
1,249,366
2,688,440
KYN BICKLEY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
2025
2024
2025
2024
Redeemable share capital
Number
Number
£
£
Issued and fully paid
Redeemable shares of £1 each
3,751,480
1,436,000
3,751,480
1,436,000
Redeemable shares classified as equity
3,751,480
1,436,000
Total equity share capital
3,751,481
1,436,001

The ordinary shares have attached to them full voting, dividend and capital distribution (including on winding up) rights. They do not confer any rights of redemption.

During the year the company issued 2,315,480 redeemable shares at nominal value of £1.00 per share.

The redeemable shares are non-voting and can be redeemed at the discretion of the directors at any time. The shares have priority over the ordinary shares on winding up, liquidation or sale.

9
Financial commitments, guarantees and contingent liabilities

There is a fixed and floating charge over the assets of the company which relates to borrowings by a group company.

10
Operating lease commitments

At the reporting end date the company had a lease with rent payable which is based on a percentage of revenue less expenditure when profitable.

11
Related party transactions

The company has taken advantage of the exemptions under FRS 102 section 1A not to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transactions is wholly-owned by such a member.

12
Parent company

The immediate parent company of KYN Bickley Limited is Bickley Park Road Holdco Limited, a company registered in lsle of Man and its ultimate parent is Melford Special Situations II LP by virtue of shareholdings, whose registered office is 192 Sloane Street, London, SW1X 9QX.

KYN BICKLEY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 9 -
13
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 for the year ended 30 September 2025, was signed on .............................., and was unqualified but includes a material uncertainty related to going concern paragraph (see details in Note 1.2), and includes the following:

Material Uncertainty Related to Going Concern

We draw attention to Note 1.2 in the financial statements, which indicates that the Company breached specific covenants as set out in the Facility Agreement during the period ended 30 September 2025. As stated in Note 1.2, while management is negotiating restructure of the Facility Agreement, a binding agreement has not yet been finalised.

These conditions indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

The senior statutory auditor was Keith Sussman FCA, for and on behalf of Cohen Arnold.

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