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REGISTERED NUMBER: 01725456 (England and Wales)













Audited Financial Statements

for the Year Ended 31st December 2023

for

Asset Finance and Management Limited

Asset Finance and Management Limited (Registered number: 01725456)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Asset Finance and Management Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: G Smithies
B D Monahan





SECRETARY: B D Monahan





REGISTERED OFFICE: 155 - 157 High Street
Aldershot
Hampshire
GU11 1TT





REGISTERED NUMBER: 01725456 (England and Wales)





AUDITORS: Whiteleys
Chartered Certified Accountants
& Statutory Auditor
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

Asset Finance and Management Limited (Registered number: 01725456)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 5 12 10

CURRENT ASSETS
Debtors 6 67,238 262,702
Cash at bank 181,189 245,886
248,427 508,588
CREDITORS
Amounts falling due within one year 7 120,391 317,865
NET CURRENT ASSETS 128,036 190,723
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,048

190,733

CREDITORS
Amounts falling due after more than one
year

8

-

30,000
NET ASSETS 128,048 160,733

CAPITAL AND RESERVES
Called up share capital 1 1
Capital redemption reserve 1 1
Retained earnings 128,046 160,731
SHAREHOLDERS' FUNDS 128,048 160,733

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3rd September 2024 and were signed on its behalf by:





B D Monahan - Director


Asset Finance and Management Limited (Registered number: 01725456)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

Asset Finance and Management 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Asset Finance and Management Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Asset Finance and Management Limited (Registered number: 01725456)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


3. ACCOUNTING POLICIES - continued
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.

Accounting for option deals
The company accounts for all of it's options based on their type. There are three types of option and they are:

1) Own Goods.
2) Buy Back.
3) Agent.

The accounting policy for each option is as follows:

1) Own Goods - These are accounted for on the earlier of the invoice date and the option exercise date.

2) Buy Back - These are accounted for on the day after the expiry date of the lease.

3) Agent - These are accounted for on the earlier of option 2 above and the cash received date.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Asset Finance and Management Limited (Registered number: 01725456)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


3. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023 10
Additions 2
At 31st December 2023 12
NET BOOK VALUE
At 31st December 2023 12
At 31st December 2022 10

The company has the following subsidiary companies which are all dormant, and whose trading style without the "Ltd" the company adopts in certain niche marketplaces. Each of the companies is owned 100% by the company, unless otherwise stated.

Eductive Evaluation Limited
Renewable Energy Finance Limited
Asset Finance and Management (Solutions) Limited
People Analytics Works Ltd
People Analytics Ltd
AFM Solutions (2021) Limited
AFM Group Solutions Limited

Asset Finance and Management Limited (Registered number: 01725456)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 19,702 183,718
Other debtors 47,536 78,984
67,238 262,702

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 74,290 220,573
Taxation and social security 2,185 74,929
Other creditors 43,916 22,363
120,391 317,865

As a part of its normal funding methodology, the company often finances its equipment purchases by selling and/or assigning rents and/or other benefits under its equipment leases. Funders may, at the same time, take a charge over the relevant equipment, although they are removed once the deal has completed. The charges are all registered at Companies House and are available for inspection.

On 1st October 2021, 50% of the issued Ordinary Shares in the company consisting of 10 shares each of individual face value of £0.10 were bought in part consideration of the issue of £50,000 redeemable Preference Shares. These being redeemable over the next 5 years in 5 equal tranches, with no voting or other rights. The final consideration was paid in full after the balance sheet date and therefore disclosed with other creditors due within one year.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors - 30,000

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

The Report of the Auditors was unqualified.

Neil Dennis Hollingshead FCCA (Senior Statutory Auditor)
for and on behalf of Whiteleys

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.