You should also reflect on this bit which appears in the now defunct CAP 804 right under the FCL.025 section on validity.
* Note: The validity periods specified are for the issue of a licence or rating, as applicable. This means that the licence and/or rating must be issued by the Authority before the theoretical knowledge examinations validity period expires. It is the responsibility of the applicant to ensure that any licence application is submitted to the CAA at least 10 working days prior to the expiry of the examinations.