REGISTERED NUMBER: 16212421 (England and Wales)

Financial Statements

for the Year Ended 31 March 2026

for

The Networking People Bidco Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investments

4

10,274,435

10,274,435

CURRENT ASSETS

Debtors

5

-

135,310

Cash at bank

964

-

964

135,310

CREDITORS

Amounts falling due within one year

6

1,943,093

2,702,324

NET CURRENT LIABILITIES

(1,942,129

)

(2,567,014

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,332,306

7,707,421

CREDITORS

Amounts falling due after more than one year

7

8,323,278

7,730,070

NET ASSETS/(LIABILITIES)

9,028

(22,649

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

9,027

(22,650

)

9,028

(22,649

)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2026 and were signed on its behalf by:

Mr S T Daniels - Director

1.	STATUTORY INFORMATION

The Networking People Bidco Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

16212421

Registered office:

Network House

Caton Road

Lancaster

England

LA1 3PE

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.

Going Concern

The company had net assets of £9,028 (2025 net liabilities: £22,649) at the year end. The group are continuing to support the company, and therefore, the directors can continue to adopt a going concern basis of accounting in preparing these financial statements.

Preparation of consolidated financial statements

The financial statements contain information about The Networking People Bidco Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, The Networking People Topco Ltd, Network House, Caton Road, Lancaster, LA1 3PE.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2025 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2025

and 31 March 2026

10,274,435

NET BOOK VALUE

At 31 March 2026

10,274,435

At 31 March 2025

10,274,435

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

-

135,310

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

1,950

-

Amounts owed to group undertakings

1,930,673

2,688,117

Taxation and social security

6,605

-

Other creditors

3,865

14,207

1,943,093

2,702,324

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Loan notes

8,323,278

7,730,070

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Loan notes

-

7,971,752

Less deferred arrangement

costs

-

(249,125

)

Rolled up interest

-

7,443

-

7,730,070

Included within loan notes are non-amortising A loan notes held by YFM BF3 Holdco Limited and N Redwood which carry an interest rate of 12.5%, 6.5% per annum of which is payable quarterly in arrears, with the remaining 6% rolled up and payable on exit.

The A loan notes will be repayable in full on the earlier of an exit, or the fifth anniversary of investment. Repayment will include any accrued and unpaid interest. They are secured as a charge as detailed in note 9.

Also included within loan notes are non-amortising B loan notes held by S Daniels and R Williams which will carry an interest rate of 12.5%. The loan notes will be repayable in full at exit. The interest will be non-compounding, rolled up and payable at exit.

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

The Report of the Auditors was unqualified.

Jeremy Bostock BA BFP FCA (Senior Statutory Auditor)

for and on behalf of Thompson Wright (Audit) Limited

9.	OTHER FINANCIAL COMMITMENTS

The company has entered into a multilateral guarantee with Yfm Private Equity Limited as follows:

- A guarantee and debentures consisting of fixed and floating charges over all the assets and undertaking of the entity, The Networking People Topco Ltd and The Networking People (TNP) Limited.

- A general pledge over documents and goods from the reporting entity.

10.	RELATED PARTY DISCLOSURES

YFM BF3 Holdco Limited

As holders of A loan notes, interest of £451,555 was paid to the above in the period to 31 March 2026.

Interest of £416,820 was rolled up and will be payable upon redemption of the loan notes.

N Redwood

As holder of A loan notes, interest of £1,609 was paid to the above in the period to 31 March 2026.

Interest of £1,485 was rolled up and will be payable upon redemption of the loan notes.

S Daniels

Interest of £62,500 was rolled up and will be payable upon redemption of the loan notes.

R Williams

Interest of £62,500 was rolled up and will be payable upon redemption of the loan notes.

11.	ULTIMATE CONTROLLING PARTY

The parent company is The Networking People Topco Ltd.

The parent company is registered in England and Wales and the registered office is Network House, Caton Road, Lancaster, LA1 3PE.

Consolidated financial statements of The Networking People Topco Ltd are available from the registered office.

The immediate controlling parties are the directors/shareholders of The Networking People Topco Limited.

The ultimate controlling party is YFM Equity Partners Buyout III (GP) LLP by virtue of their majority shareholding in the immediate parent.