REGISTERED NUMBER: 02566058

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

WESTMINSTER FINANCE CORPORATION (UK)

LIMITED

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.

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

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.

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

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.