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Registered number: 07486328
RELENDEX LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JANUARY 2026
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RELENDEX LIMITED
REGISTERED NUMBER: 07486328
BALANCE SHEET
AS AT 31 JANUARY 2026
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Debtors: amounts falling due within one year
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Current asset investments
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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RELENDEX LIMITED
REGISTERED NUMBER: 07486328
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2026
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 by:
The notes on pages 3 to 11 form part of these financial statements.
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RELENDEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
Relendex Limited is a limited company incorporated in the United Kingdom, registered office 99-100 Turnmill Street, London, England, EC1M 5QP.
The principal activity of the company during the year was the arrangement of finance between borrowers and lenders for use in commercially rented property.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis which assumes that the company will be able to continue trading for the foreseeable future being not less than twelve months from the date of approval of the financial statements.
The directors are satisfied that the company has sufficient funds to support its activities and to ensure that the company is able to meet its business plans and honour its debts as they fall due within the agreed terms for the foreseeable future. Consequently, the directors are satisfied that the going concern basis is appropriate for the preparation of the financial statements.
Turnover comprises the company's revenue in respect of fees and interest spread receivable earned by matching suitable lenders to borrowers requiring funding, together with all revenues (however described) on house lending, in relation to secured property lending during the year.
Arrangement fees are recognised once the borrower has committed to the loan and the lending becomes unconditional.
Interest spread receivable fees are recognised once the borrower has committed to the loan and lending becomes unconditional. It is recognised on an accruals basis in the period to which it relates.
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RELENDEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. Intangible assets are amortised using the straight-line method and are amortised from the date the assets come into use over the directors' best estimate of its useful life.
Software in use is amortised over its useful life of 10 years.
Software under development is not amortised until it comes into use.
The useful life of software developed internally is reviewed annually for impairment or any anticipated reduction in its useful life.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Longterm Leasehold Property
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straight line over the life of the lease
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Impairment of fixed assets and goodwill
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Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
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RELENDEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any provision for bad or doubtful debts.
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Cash and cash equivalents
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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.
Short term creditors are measured at the transaction price.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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RELENDEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax assets are recognised on the basis of future reversals that can be foreseen with reasonable certainty. The rates applicable to longer term anticipated reversals are based on current rates or such other rates as can reasonably be expected to apply based on the best information available, whether or not enacted or substantially enacted.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
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The average monthly number of employees, including directors, during the year was 17 (2025 - 17).
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RELENDEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Software - original platform
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RELENDEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Long Term Leasehold Property
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Charge for the year on owned assets
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Subsidiary undertakings
The Company has a £0.02 investment in each of the following wholly owned subsidiaries:
Relendex PT Limited (dormant)
Relendex Lending Limited (dormant)
Relendex Security Trustees Limited (dormant)
Farringdon Asset Management Limited
Farringdon Portfolio Limited
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RELENDEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Prepayments and accrued income
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Current asset investments
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Unlisted investments comprise company funds which are segregated and allocated to ensure liquidity in the exchange of lending assets.
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Cash and cash equivalents
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RELENDEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Charged to profit or loss
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The deferred tax asset is made up as follows:
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Tax losses carried forward
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Deferred tax on research and development expenditure
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The deferred tax asset relates to trading losses carried forward, including losses arising from research and development (R&D) expenditure, which are available to offset against future taxable profits.
During the year, the company recognised an additional deferred tax asset of £246,915 (2025: £1,107,569), reflecting management’s assessment that it is now probable that sufficient future taxable profits will be available to utilise these amounts.
This recognition is supported by the company’s return to profitability and expectations of continued profit generation in future periods. The deferred tax asset at the year end totals £1,804,484 (2025: £1,557,569), comprising tax losses and losses attributable to R&D expenditure.
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RELENDEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Allotted, called up and fully paid
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71,495 (2025 - 71,500) Ordinary A shares of £0.01 each
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22,843,757 (2025 - 22,843,800) Ordinary B shares of £0.01 each
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The company has set up approved EMI schemes where various share options were granted to a number of employees.
At the beginning of the year 1,600,000 options were outstanding with a weighted average exercise price of £0.57. 258,000 options are exercisable within 5 years of the grant date and 1,342,000 are exercisable within 10 years of the grant date.
There were no options granted, exercised, lapsed or forfeited during the financial year. The directors have reviewed the option exercise price for these options compared to the estimated market value of the shares in the company, and have concluded that no provisions are required, and that no share-based remuneration has arisen through a transfer of value to employees (2025: nil).
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The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £55,913 (2025 - £16,683).
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Commitments under operating leases
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At 31 January 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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The auditor's report on the financial statements for the year ended 31 January 2026 was unqualified.
The audit report was signed on 26 May 2026 by Jonathan Franks FCA (Senior statutory auditor) on behalf of Hillier Hopkins LLP.
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