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REGISTERED NUMBER: 02403456 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

INDEX FINANCE LIMITED

INDEX FINANCE LIMITED (REGISTERED NUMBER: 02403456)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INDEX FINANCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: G D Hodson
N D Hodson





SECRETARY: N D Hodson





REGISTERED OFFICE: Two Trees
Bartle Lane
Preston
Lancashire
PR4 0RU





REGISTERED NUMBER: 02403456 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

INDEX FINANCE LIMITED (REGISTERED NUMBER: 02403456)

BALANCE SHEET
30 JUNE 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 593 698
Investment property 5 2,898,411 2,898,411
2,899,004 2,899,109

CURRENT ASSETS
Debtors 6 1,340 333,381
Cash at bank 26,783 81,209
28,123 414,590
CREDITORS
Amounts falling due within one year 7 202,169 446,176
NET CURRENT LIABILITIES (174,046 ) (31,586 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,724,958

2,867,523

CREDITORS
Amounts falling due after more than one year 8 (1,005,320 ) (1,155,320 )

PROVISIONS FOR LIABILITIES (148,158 ) (148,158 )
NET ASSETS 1,571,480 1,564,045

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Capital redemption reserve 100 100
Fair value reserve 10 1,158,366 1,158,366
Retained earnings 313,014 305,579
SHAREHOLDERS' FUNDS 1,571,480 1,564,045

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

INDEX FINANCE LIMITED (REGISTERED NUMBER: 02403456)

BALANCE SHEET - continued
30 JUNE 2024


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 30 December 2024 and were signed on its behalf by:





N D Hodson - Director


INDEX FINANCE LIMITED (REGISTERED NUMBER: 02403456)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Index Finance 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.

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 as modified by the revaluation of certain assets.

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 represents amounts receivable during the year in respect of services provided, excluding Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
The freehold land and buildings are held by the company as investment properties. As such the assets are not subject to depreciation.The properties are included in the balance sheet at open market value. This is in compliance with the Financial Reporting Standard for Smaller Entities, but is a departure from the Companies Act 2006, stating that all tangible fixed assets should be depreciated over the useful economic life of the asset. Any depreciation charge on these assets would not, in the opinion of the Directors, be material since the properties are maintained to a high standard.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

INDEX FINANCE LIMITED (REGISTERED NUMBER: 02403456)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023
and 30 June 2024 8,521
DEPRECIATION
At 1 July 2023 7,823
Charge for year 105
At 30 June 2024 7,928
NET BOOK VALUE
At 30 June 2024 593
At 30 June 2023 698

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 2,898,411
NET BOOK VALUE
At 30 June 2024 2,898,411
At 30 June 2023 2,898,411

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2007 1,977,749
Valuation in 2008 (693,390 )
Valuation in 2009 283,000
Valuation in 2015 (5,487 )
Valuation in 2018 (74,911 )
Valuation in 2019 17,954
Valuation in 2020 10,761
Valuation in 2022 94,710
Valuation in 2023 (275,402 )
Cost 1,563,427
2,898,411

If investment property had not been revalued it would have been included at the following historical cost:

30/6/24 30/6/23
£    £   
Cost 1,563,427 1,563,427

Investment property was valued on an open market basis on 30 June 2024 by the Company's Directors .

INDEX FINANCE LIMITED (REGISTERED NUMBER: 02403456)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Other debtors - 332,041
Prepayments and accrued income 1,340 1,340
1,340 333,381

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Bank loans and overdrafts - 16,250
Tax 19,397 23,366
Other creditors 695 697
Directors' current accounts 102,924 143,670
Accrued expenses 79,153 262,193
202,169 446,176

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/24 30/6/23
£    £   
Bank loans repayable in more
than five years 1,005,320 1,155,320
1,005,320 1,155,320

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable in more
than five years 1,005,320 1,155,320
1,005,320 1,155,320

9. SECURED DEBTS

The following secured debts are included within creditors:

30/6/24 30/6/23
£    £   
Bank loans 1,005,320 1,171,570

The bank loans are secured by charges over the investment properties to which they relate.

10. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 1,158,366

INDEX FINANCE LIMITED (REGISTERED NUMBER: 02403456)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £47,368 (2023 - £47,368) were paid to the directors .

During the year the company was repaid in full the loans made to Hodson Homes (North West) Ltd , a company of which Mr N D Hodson is a director. At the year end the outstanding balance due from Hodson Homes (North West) Ltd was £Nil (2023: £332,041).

At 31 March 2024 the outstanding balance owing to Hodson Homes (North West) Limited was included in accruals at £64,558 (2023: £256,599).

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr G D Hodson and Mrs C B Hodson by virtue of their shareholding.