REGISTERED NUMBER: |
WESTERN ASSET FINANCE LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2025 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Freehold property | - |
Fixtures and fittings | - |
Computer equipment | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2024 |
and 31 March 2025 |
AMORTISATION |
At 1 April 2024 |
and 31 March 2025 |
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 |
DEPRECIATION |
At 1 April 2024 |
Charge for year |
At 31 March 2025 |
NET BOOK VALUE |
At 31 March 2025 |
At 31 March 2024 |
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 |
Other creditors |
Accruals |
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: | £ | £ |
Ordinary | £1 | 4 | 4 |