IRIS Accounts Production v25.1.0.734 03717891 director 1.4.24 31.3.25 31.3.25 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037178912024-03-31037178912025-03-31037178912024-04-012025-03-31037178912023-03-31037178912023-04-012024-03-31037178912024-03-3103717891ns15:EnglandWales2024-04-012025-03-3103717891ns14:PoundSterling2024-04-012025-03-3103717891ns10:Director12024-04-012025-03-3103717891ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3103717891ns10:SmallEntities2024-04-012025-03-3103717891ns10:AuditExempt-NoAccountantsReport2024-04-012025-03-3103717891ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-3103717891ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-3103717891ns10:FullAccounts2024-04-012025-03-310371789112024-04-012025-03-3103717891ns10:OrdinaryShareClass12024-04-012025-03-3103717891ns10:CompanySecretary12024-04-012025-03-3103717891ns10:RegisteredOffice2024-04-012025-03-3103717891ns5:CurrentFinancialInstruments2025-03-3103717891ns5:CurrentFinancialInstruments2024-03-3103717891ns5:Non-currentFinancialInstruments2025-03-3103717891ns5:Non-currentFinancialInstruments2024-03-3103717891ns5:ShareCapital2025-03-3103717891ns5:ShareCapital2024-03-3103717891ns5:RetainedEarningsAccumulatedLosses2025-03-3103717891ns5:RetainedEarningsAccumulatedLosses2024-03-3103717891ns5:NetGoodwill2024-04-012025-03-3103717891ns5:IntangibleAssetsOtherThanGoodwill2024-04-012025-03-3103717891ns5:LandBuildingsns5:OwnedOrFreeholdAssets2024-04-012025-03-3103717891ns5:FurnitureFittings2024-04-012025-03-3103717891ns5:ComputerEquipment2024-04-012025-03-3103717891ns5:NetGoodwill2024-03-3103717891ns5:NetGoodwill2025-03-3103717891ns5:NetGoodwill2024-03-3103717891ns5:LandBuildings2024-03-3103717891ns5:FurnitureFittings2024-03-3103717891ns5:ComputerEquipment2024-03-3103717891ns5:LandBuildings2024-04-012025-03-3103717891ns5:LandBuildings2025-03-3103717891ns5:FurnitureFittings2025-03-3103717891ns5:ComputerEquipment2025-03-3103717891ns5:LandBuildings2024-03-3103717891ns5:FurnitureFittings2024-03-3103717891ns5:ComputerEquipment2024-03-3103717891ns10:OrdinaryShareClass12025-03-31
REGISTERED NUMBER: 03717891 (England and Wales)


















WESTERN ASSET FINANCE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025






WESTERN ASSET FINANCE LTD (REGISTERED NUMBER: 03717891)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WESTERN ASSET FINANCE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTOR: N A Game Esq





SECRETARY: Mrs L S Game





REGISTERED OFFICE: First Floor Suite
23 Trinity Square
LLANDUNDO
North Wales
LL30 2RH





REGISTERED NUMBER: 03717891 (England and Wales)





ACCOUNTANTS: Hawley and Company
Chartered Accountants & Chartered Tax Advisers
First Floor Suite
23 Trinity Square
LLANDUDNO
North Wales
LL30 2RH

WESTERN ASSET FINANCE LTD (REGISTERED NUMBER: 03717891)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,354 1,628
1,354 1,628

CURRENT ASSETS
Debtors 6 55 52
Cash at bank 197,675 192,271
197,730 192,323
CREDITORS
Amounts falling due within one year 7 20,134 22,582
NET CURRENT ASSETS 177,596 169,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,950

171,369

CREDITORS
Amounts falling due after more than one year 8 52,545 51,440
NET ASSETS 126,405 119,929

CAPITAL AND RESERVES
Called up share capital 9 4 4
Retained earnings 126,401 119,925
SHAREHOLDERS' FUNDS 126,405 119,929

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WESTERN ASSET FINANCE LTD (REGISTERED NUMBER: 03717891)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2025


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 director and authorised for issue on 24 April 2025 and were signed by:





N A Game Esq - Director


WESTERN ASSET FINANCE LTD (REGISTERED NUMBER: 03717891)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Western Asset Finance Ltd 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Trade debtors and other debtors
Trade and other debtors are initially recognised at their transaction price, less impairment losses for bad and doubtful debts.

WESTERN ASSET FINANCE LTD (REGISTERED NUMBER: 03717891)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of 3 months or less.

Trade and other creditors
Trade and other creditors are initially recognised at their transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 125,000
AMORTISATION
At 1 April 2024
and 31 March 2025 125,000
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2024
and 31 March 2025 4,974 10,638 7,878 23,490
DEPRECIATION
At 1 April 2024 4,227 10,130 7,505 21,862
Charge for year 75 76 123 274
At 31 March 2025 4,302 10,206 7,628 22,136
NET BOOK VALUE
At 31 March 2025 672 432 250 1,354
At 31 March 2024 747 508 373 1,628

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   

WESTERN ASSET FINANCE LTD (REGISTERED NUMBER: 03717891)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
Deferred tax asset 55 52

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Tax 13,911 13,551
Other creditors 5,060 7,880
Accruals 1,163 1,151
20,134 22,582

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Director's loan account 52,545 51,440

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
4 Ordinary £1 4 4