REGISTERED NUMBER: 03787998 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

KINGSWAY MORTGAGES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J Perkins

D S Duncan

K C Hatton

R K Hayward

L Johnston

J R Wellden

SECRETARY:

D Perkins

REGISTERED OFFICE:

2 Grafton Mews

London

W1T 5JD

REGISTERED NUMBER:

03787998 (England and Wales)

ACCOUNTANTS:

mgr MAP Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Tangible assets

4

2,621

3,684

CURRENT ASSETS

Debtors

5

104,889

113,544

Cash at bank and in hand

389,209

343,199

494,098

456,743

CREDITORS

Amounts falling due within one year

6

(237,409

)

(260,529

)

NET CURRENT ASSETS

256,689

196,214

TOTAL ASSETS LESS CURRENT LIABILITIES

259,310

199,898

CAPITAL AND RESERVES

Called up share capital

7

91

91

Share premium account

8

17,996

17,996

Capital redemption reserve

8

13

13

Retained earnings

8

241,210

181,798

SHAREHOLDERS' FUNDS

259,310

199,898

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2026 and were signed on its behalf by:

L Johnston - Director

K C Hatton - Director

1.	STATUTORY INFORMATION

Kingsway Mortgages Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

evenly over the period of the lease

Fixtures and fittings

-

25% straight line

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 profit or loss.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

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 statement of financial position when the company

becomes party to the contractual provisions of the instrument.

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.

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

payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are

not amortised.

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.

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 income statement 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 is provided in full in respect of taxation deferred by timing differences between the treatment of

certain items for taxation and accounting purposes.

Foreign currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in

foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising

on translation in the period are included in profit or loss.

Hire purchase and leasing commitments

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Pension costs and other post-retirement benefits

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

leasehold

fittings

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

4,543

43,239

47,782

DEPRECIATION

At 1 January 2025

4,543

39,555

44,098

Charge for year

-

1,063

1,063

At 31 December 2025

4,543

40,618

45,161

NET BOOK VALUE

At 31 December 2025

-

2,621

2,621

At 31 December 2024

-

3,684

3,684

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

90,876

99,531

Other debtors

14,013

14,013

104,889

113,544

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

17,812

13,538

Amounts owed to group undertakings

4,981

4,981

Taxation and social security

122,922

100,574

Other creditors

91,694

141,436

237,409

260,529

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

91

Ordinary

£1

91

91

8.

RESERVES

Share

Capital

Retained

premium

redemption

earnings

account

reserve

Totals

£

£

£

£

At 1 January 2025

181,798

17,996

13

199,807

Profit for the year

249,832

249,832

Dividends

(190,420

)

(190,420

)

At 31 December 2025

241,210

17,996

13

259,219

9.	CONTINGENT LIABILITIES

The directors were not aware of the existence of any contingent liabilities at the year end.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Dividends totalling £Nil (2024 - £49,670) were paid in the year in respect of shares held by the directors.

11.	RELATED PARTY DISCLOSURES

JLK Mortgages Holdings Limited

A parent company.

Dividends totalling £190,420 (2024: 730,000) were paid to the parent company during the year.

31.12.25

31.12.24

£

£

Amount due to related party at the balance sheet date

4,981

4,981

J Perkins

The company paid rent of £61,800 (2024: £61,800) to the director in respect of the business premises at 2 Grafton Mews, London, W1T 5JD.

12.	POST BALANCE SHEET EVENTS

The directors were not aware of any events after the reporting date which would materially affect the financial statements.

13.	PARENT COMPANY

The parent company of Kingsway Mortgages Limited is JLK Mortgages Holdings Limited, a company registered in England.