REGISTERED NUMBER: 10471831 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

KEYNETICS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

S R Fisher

S J Wheeler

REGISTERED OFFICE:

Malvern Hills Science Park

Geraldine Road

Malvern

Worcestershire

WR14 3SZ

REGISTERED NUMBER:

10471831 (England and Wales)

AUDITORS:

Smith Heath Holdings Limited

Statutory Auditor

3 - 4 Bath Mews

Bath Parade

Cheltenham

Gloucestershire

GL53 7HL

FIXED ASSETS

Tangible assets

4

5,804

11,129

CURRENT ASSETS

Stocks

329,372

307,325

Debtors

5

140,582

105,680

Cash at bank

26,037

31,707

495,991

444,712

CREDITORS

Amounts falling due within one year

6

4,895,189

4,527,898

NET CURRENT LIABILITIES

(4,399,198

)

(4,083,186

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,393,394

)

(4,072,057

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(4,393,494

)

(4,072,157

)

(4,393,394

)

(4,072,057

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2026 and were signed on its behalf by:

S R Fisher - Director

1.	STATUTORY INFORMATION

Keynetics 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.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods:

Revenue from the sales of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services:

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Fixed assets are stated at cost less accumulated depreciation.

Depreciation is provided on the following basis:

Computer equipment and software

50% - 100% on cost

Furniture, fittings and equipment

10% - 33% on cost

Motor vehicles

20% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currency translation

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or 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 amount of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at transaction price.

Going concern

During the year ended 31 December 2025 the company incurred a loss of £321,337 and had net current liabilities at that date of £4,399,198 which includes amounts owed to group undertakings of £4,787,826.

The directors consider the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date the financial statements are approved and the anticipated cash flows, availability of support from fellow group undertakings (including those undertakings not requesting repayment of any amounts owed to them by the company whilst any other creditors of the company remain unpaid, except to the extent that the company is able to discharge all its debts and liabilities as they fall due) and other mitigating actions that can be taking during that period.

The company has placed reliance on the support of fellow group undertakings, Sentrilock International LLC ("SIL") and Sentrilock LLC ("SL") (see the note for parent and group undertaking for further details regarding those entities). Letters of support have been received from SIL and SL, confirming their ongoing support for a period of at least 12 months from the date of this audit report.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Computer

Fixtures,

equipment

fittings

and

and

Motor

software

equipment

vehicles

Totals

£

£

£

£

COST

At 1 January 2025

and 31 December 2025

37,702

19,984

19,213

76,899

DEPRECIATION

At 1 January 2025

37,128

17,755

10,887

65,770

Charge for year

346

1,136

3,843

5,325

At 31 December 2025

37,474

18,891

14,730

71,095

NET BOOK VALUE

At 31 December 2025

228

1,093

4,483

5,804

At 31 December 2024

574

2,229

8,326

11,129

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

103,475

84,871

Other debtors

37,107

20,809

140,582

105,680

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

15,696

34,250

Amounts owed to group undertakings

4,787,826

4,428,826

Taxation and social security

14,918

16,595

Other creditors

76,749

48,227

4,895,189

4,527,898

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

14,982

10,880

Between one and five years

8,279

18,133

23,261

29,013

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Samantha Jane Smith FCCA (Senior Statutory Auditor)

for and on behalf of Smith Heath Holdings Limited

9.	PARENT AND GROUP UNDERTAKINGS

The company's immediate parent undertaking is Sentrilock International LLC ("SIL"). SIL's registered office is located at 7701 Service Center Drive, West Chester, OH 45069.

The company's ultimate parent undertaking is the National Association of Realtors ("NAR"). NAR's registered office is located at 430 Michigan Avenue, Chicago, Illinois, IL 60611.

As detailed in note 2, a fellow group undertaking, Sentrilock LLC ("SL") is providing support to the company in addition to SIL. SL's registered office is the same as that of SIL.

No group undertakings provide consolidated financial statements that are publicly available.

All the above referred to entities are registered in the USA.