KROO BANK LTD

• ⚠

  Material uncertainty over going concern

  As the status of Kroo as a going concern is dependent on securing this new equity funding, the directors are of the opinion that this matter represents a material uncertainty that may cast significant doubt upon its ability to continue as a going concern and therefore that it may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include the adjustments that would be required should the going concern basis of preparation no longer be appropriate. Notwithstanding this material uncertainty, the directors have a reasonable expectation that the Company will have adequate resources to continue in operational existence, fulfil its regulatory capital requirements and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

• ◆

  4 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. KROO BANK LTD 2022-09-23 → present
2. KROO LTD 2020-03-16 → 2022-09-23
3. B-SOCIAL LIMITED 2016-09-05 → 2020-03-16

Latest accounts filed cover 2024-12-31; financial figures currently reflect up to 2020-12-31.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As the status of Kroo as a going concern is dependent on securing this new equity funding, the directors are of the opinion that this matter represents a material uncertainty that may cast significant doubt upon its ability to continue as a going concern and therefore that it may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include the adjustments that would be required should the going concern basis of preparation no longer be appropriate. Notwithstanding this material uncertainty, the directors have a reasonable expectation that the Company will have adequate resources to continue in operational existence, fulfil its regulatory capital requirements and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.”

Significant events

• “During 2024 Kroo launched Kroo Pots, customer self-serve enhancements including generative AI chatbot & debit card management features. Flexible Cash ISA introduced early 2025.”
• “Capital raising continued in 2024, raising £12.5m. A further £26.0m raised post year-end by issuing 163,196,116 shares.”
• “Staff costs were 3.8% lower and non-staff costs 33.1% lower in 2024. FTE staff reduced from 290 (2023) to 224 (2024).”
• “October 2024: New regime for Authorised Push Payment (APP) fraud implemented, requiring PSPs like Kroo to reimburse victims up to £85,000. Kroo expects fraud losses to increase.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

20

last 12 months

Capital events

9

last 24 months

Officers appointed

5

last 12 months

Officers resigned

4

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  -12.7%

  £1,527,235 → £1,333,609

• Net assets

  -229.4%

  £1,198,330 → -£1,551,236

• Employees

  +24%

  25 → 31

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers