IRIS Accounts Production v25.2.0.378 02566058 director 1.6.24 31.5.25 31.5.25 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 02566058 2024-05-31 02566058 2025-05-31 02566058 2024-06-01 2025-05-31 02566058 2023-05-31 02566058 2023-06-01 2024-05-31 02566058 2024-05-31 02566058 ns14:PoundSterling 2024-06-01 2025-05-31 02566058 ns10:Director1 2024-06-01 2025-05-31 02566058 ns10:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 02566058 ns10:SmallEntities 2024-06-01 2025-05-31 02566058 ns10:AuditExempt-NoAccountantsReport 2024-06-01 2025-05-31 02566058 ns10:SmallCompaniesRegimeForDirectorsReport 2024-06-01 2025-05-31 02566058 ns10:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 02566058 ns10:AbridgedAccounts 2024-06-01 2025-05-31 02566058 ns5:ShareCapital 2025-05-31 02566058 ns5:ShareCapital 2024-05-31 02566058 ns5:RevaluationReserve 2025-05-31 02566058 ns5:RevaluationReserve 2024-05-31 02566058 ns5:CapitalRedemptionReserve 2025-05-31 02566058 ns5:CapitalRedemptionReserve 2024-05-31 02566058 ns5:RetainedEarningsAccumulatedLosses 2025-05-31 02566058 ns5:RetainedEarningsAccumulatedLosses 2024-05-31 02566058 ns5:RevaluationReserve 2024-05-31 02566058 ns5:Non-currentFinancialInstruments 2025-05-31 02566058 ns5:Non-currentFinancialInstruments 2024-05-31 02566058 ns5:MoreThanFiveYears ns5:Non-currentFinancialInstruments 2025-05-31 02566058 ns5:MoreThanFiveYears ns5:Non-currentFinancialInstruments 2024-05-31

REGISTERED NUMBER: 02566058

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 MAY 2025 |

| FOR |

| WESTMINSTER FINANCE CORPORATION (UK) |

| LIMITED |

WESTMINSTER FINANCE CORPORATION (UK)

LIMITED (REGISTERED NUMBER: 02566058)

ABRIDGED BALANCE SHEET

31 May 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

ASSETS

FIXED ASSETS

Tangible assets | 4 | 1,947 |  | 82,621 |  |

CURRENT ASSETS

Stocks | 35,382 |  | 40,341 |  |

Debtors | 38,656 |  | 56,280 |  |

Cash at bank and in hand | 44,476 |  | 5,437 |  |

|  | 118,514 |  |  |  | 102,058 |  |

120,461 |  | 184,679 |  |

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES

Called up share capital | 51,902 |  | 51,902 |  |

Revaluation reserve | 5 | - |  | 16,115 |  |

Capital redemption reserve | 176,586 |  | 176,586 |  |

Retained earnings | (797,492 | ) | (771,656 | ) |

SHAREHOLDERS' FUNDS | (569,004 | ) | (527,053 | ) |

PROVISIONS FOR LIABILITIES | 355 |  | 498 |  |

CREDITORS | 6 | 689,110 |  | 711,234 |  |

120,461 |  | 184,679 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

WESTMINSTER FINANCE CORPORATION (UK)

LIMITED (REGISTERED NUMBER: 02566058)

ABRIDGED BALANCE SHEET - continued

31 May 2025

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance sheet for the year ended 31 May 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 September 2025 and were signed by:

NA Butler-Hawes - Director

WESTMINSTER FINANCE CORPORATION (UK)

LIMITED (REGISTERED NUMBER: 02566058)

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 May 2025

1. | STATUTORY INFORMATION

| Westminster Finance Corporation (UK) Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is 213-217 Aylsham Road, Norwich, Norfolk, NR3 2RE.

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.

| The financial statements have been prepared on a going concern basis which is dependent upon the continued financial support of the director, company bankers and preferential shareholders. The director is of the opinion that this support will continue over the next 12 months and therefore believe that it is appropriate for the financial statements to be prepared on the going concern basis.

| Turnover

| Turnover represents the amount of interest charged on loan advances plus any legal, insurance or related fees recharged by the company and direct sales of goods from the pledge centre.

| Tangible fixed assets

| Tangible fixed assets are shown at cost less depreciation.

| Depreciation is calculated to write off the cost of the assets over their expected useful lives at the following annual rates:-

| Office Equipment - 15% reducing balance basis

| Fixtures and fittings - 15% reducing balance basis

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

| 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.

WESTMINSTER FINANCE CORPORATION (UK)

LIMITED (REGISTERED NUMBER: 02566058)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 May 2025

2. | 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.

| Expenditure

| The company is not registered for value added tax purposes. As a result, expenditure, where appropriate, has been shown VAT inclusive.

| Operating leases

| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2024 - 1 ) .

4. | TANGIBLE FIXED ASSETS

| Totals

£ |

| COST OR VALUATION

| At 1 June 2024 | 129,646 |  |

| Additions | 95 |  |

| Disposals | (91,000 | ) |

| At 31 May 2025 | 38,741 |  |

| DEPRECIATION

| At 1 June 2024 | 47,025 |  |

| Charge for year | 769 |  |

| Eliminated on disposal | (11,000 | ) |

| At 31 May 2025 | 36,794 |  |

| NET BOOK VALUE

| At 31 May 2025 | 1,947 |  |

| At 31 May 2024 | 82,621 |  |

WESTMINSTER FINANCE CORPORATION (UK)

LIMITED (REGISTERED NUMBER: 02566058)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 May 2025

5. | RESERVES

| Revaluation

| reserve

£ |

| At 1 June 2024 | 16,115 |  |

| Deficit on revaluation of land

| and buildings | (16,115 | ) |

| At 31 May 2025 | - |  |

6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other creditors | 586,997 |  | 589,049 |  |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Preference shares | 571,373 |  | 569,520 |  |

| Repayable by instalments

| Other loans more 5yrs instal | - |  | 19,529 |  |

7. | EXTRAORDINARY ITEM

| The company was owed £30,927 by way of an inter-company debt by Norwich Associated Investments limited. This company ceased trading as at 31 May 2025.