ACCOUNTS - Final Accounts preparation

AUDITORS' REMUNERATION

During the year, the Company obtained the following services from the Company's auditors:

Registered number: 12199793

NATIONWIDE FINANCE LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

NATIONWIDE FINANCE LIMITED

COMPANY INFORMATION

Directors	Mr S A England
	Mr K A Robbins
	Mr A W Tyler
	Mr P F McSherry


REGISTERED NUMBER	12199793


REGISTERED OFFICE	9 Osier Way
	Olney Business Park
	Olney
	Bucks
	MK46 5FP


INDEPENDENT AUDITORS	Bishop Fleming LLP
	Chartered Accountants & Statutory Auditors
	Brook House
	Manor Drive
	Clyst St Mary
	Exeter
	EX5 1GD

NATIONWIDE FINANCE LIMITED

CONTENTS

	Page
Strategic report	1
Directors' report	2
Directors' responsibilities statement	3
Independent auditors' report	4 - 6
Statement of income and retained earnings	7
Statement of financial position	8
Notes to the financial statements	9 - 17

NATIONWIDE FINANCE LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

INTRODUCTION

The principal activity of the company during the period was providing finance through loans and finance lease arrangements to companies in England and Wales.

BUSINESS REVIEW

Turnover for the Company has increased by 21% to £32,590,499 from £26,957,456.
For the year ended 31 December 2024, the directors expect the activities of the Company to continue to grow with ongoing collection of rentals and settlement of its own book debtor balances.
The Directors believe the results are very encouraging, where the market is notoriously competitive.

PRINCIPAL RISKS AND UNCERTAINTIES

Credit and Fraud Risk
The Company is exposed to the risk that clients owing the Company money will not fulfil their obligations. The company reviews the exposure for every client, including the level of security available in the event of default.
Nevertheless, default credit risk may arise from events or circumstances that are difficult to detect and handle, such as fraud.
Inadequate Security
The Company is exposed to the risk that security on which the finance advances are made as reduce in value, so that the company may not recover some or all of its finance advances in an event of default.
Risk is mitigated by the spread of finance advances and types of clients involved along with detailed assessment of the value of security available at the time of the finance advances..

FINANCIAL KEY PERFORMANCE INDICATORS

The Company's key performance indicators during the year were as follows:
2024 2023
Turnover £32,590,499 £26,957,456
Operating Profit £22,502,739 £12,548,713

This report was approved by the board on 31 July 2025 and signed on its behalf.

Mr K A Robbins

Director

Page 1

NATIONWIDE FINANCE LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £16,926,403 (2023: £9,660,557).

Dividends paid in the year amounted to £Nil (2023: £Nil).

DIRECTORS

The directors who served during the year were:

Mr S A England

Mr K A Robbins

Mr A W Tyler

Mr P F McSherry

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

POST BALANCE SHEET EVENTS

There have been no significant events affecting the Company since the year end.

AUDITORS

The auditors, Bishop Fleming LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

Mr K A Robbins

Director

Date: 31 July 2025

9 Osier Way

Olney Business Park

Olney

Bucks

MK46 5FP

Page 2

NATIONWIDE FINANCE LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

NATIONWIDE FINANCE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NATIONWIDE FINANCE LIMITED

OPINION

We have audited the financial statements of Nationwide Finance Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of income and retained earnings, the Statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

OTHER INFORMATION

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 4

NATIONWIDE FINANCE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NATIONWIDE FINANCE LIMITED (CONTINUED)

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

RESPONSIBILITIES OF DIRECTORS

As explained more fully in the Directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 5

NATIONWIDE FINANCE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NATIONWIDE FINANCE LIMITED (CONTINUED)

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

USE OF OUR REPORT

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Munro FCA (Senior statutory auditor)

for and on behalf of

Bishop Fleming LLP

Chartered Accountants

Statutory Auditors

Brook House

Manor Drive

Clyst St Mary

Exeter

EX5 1GD

31 July 2025

Page 6

NATIONWIDE FINANCE LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover	4	32,590,499	26,957,456
Cost of sales		(6,220,210)	(10,104,788)
Gross profit		26,370,289	16,852,668
Administrative expenses		(3,867,550)	(4,303,955)
Operating profit		22,502,739	12,548,713
Tax on profit	8	(5,576,336)	(2,888,156)
Profit after tax		16,926,403	9,660,557



Retained earnings at the beginning of the year	26,203,109	16,542,552
	26,203,109	16,542,552
Profit for the year	16,926,403	9,660,557
Retained earnings at the end of the year	43,129,512	26,203,109

The notes on pages 9 to 17 form part of these financial statements.

Page 7

NATIONWIDE FINANCE LIMITED

REGISTERED NUMBER:12199793

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	9		86,746		99,797
			86,746		99,797
Current assets
Debtors: amounts falling due after more than one year	10	35,903,432		41,408,438
Debtors: amounts falling due within one year	10	25,577,951		15,133,722
Cash at bank and in hand	12	6,930,363		2,738,297
		68,411,746		59,280,457
Creditors: amounts falling due within one year	13	(5,368,980)		(13,177,145)
Net current assets			63,042,766		46,103,312
Total assets less current liabilities			63,129,512		46,203,109

Net assets			63,129,512		46,203,109

Capital and reserves
Called up share capital	15	20,000,000	20,000,000
Profit and loss account		43,129,512	26,203,109
		63,129,512	46,203,109

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr K A Robbins

Director

Date: 31 July 2025

The notes on pages 9 to 17 form part of these financial statements.

Page 8

NATIONWIDE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	GENERAL INFORMATION

Nationwide Finance Limited is a private company, limited by shares, incorporated in England within the United Kingdom. The address of the registered office is given in the company information page of these financial statements.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The directors have reviewed the levels of security held supporting the debtor book and are confident that it covers any risk of default and are confident that the Company will be able to operate for the foreseeable future. As such, they consider it appropriate for the financial statements to be prepared on a going concern basis.

2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

The company acts as either a lessor or lender under both finance lease and loan agreemenst. Amounts receivable are initially recognised in debtors at the present value of future rentals, discounted by the interest rate implicit to the lease.
Lease or loan payments received are apportioned between capital and interest, the interest element is recognised as revenue and the capital element reduces the the amounts owed by the lessee or borrower. Both finance lease income and loan income is recognised within turnover at the date in which the rental falls due.

2.4

LEASED ASSETS: THE COMPANY AS LESSOR

Where assets leased to a third party give rights approximating to ownership (finance lease), the lessor recognises as a receivable an amount equal to the net investment in the lease i.e. the minimum lease payments receivable under the lease discounted at the interest rate implicit in the lease. This receivable is reduced as the lessee makes capital payments over the term of the lease.

A finance lease gives rise to two types of income: profit or loss equivalent to the profit or loss resulting from outright sale of the asset being leased, at normal selling prices, reflecting any applicable discounts, and finance income over the lease term.

Page 9

NATIONWIDE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.5

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.6

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.7

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 10

NATIONWIDE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.7

TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles	-	25%	straight line
Fixtures and fittings	-	25%	straight line
Computer equipment	-	25%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.12

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 11

NATIONWIDE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

3.	JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Key Accounting Estimates and Assumptions
The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Management consider the key accounting judgments to be as follows:
Impairment of own book debt
The company assesses at each balance sheet date whether there is evidence that loan assets (own book debt) will not be recovered in full and, where necessary, recognises an impairment loss in the Statement of income and retained earnings. Such a loss is recognised on two bases:
Where a specific event has occurred that has adversely impacted the estimated future cashflows that will be received from a loan asset
As a percentage of the entire population of the book based on the expected credit losses that will arise from that population at the balance sheet date. This calculation is based on past losses incurred and the judgment of the directors.
Provisions
The company assesses on an ongoing basis the requirement to recognise provisions. Where the directors consider that an obligation based on a past events exists and it can be reliably measured, a provision is recorded.

TURNOVER

The whole of the turnover is attributable to the provision of lease finance arrangements.

All turnover arose within the United Kingdom.

Fees payable to the Company's auditors for the audit of the Company's financial statements

17,200

15,135

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.

Page 12

NATIONWIDE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Wages and salaries	1,939,588	1,967,187
Social security costs	214,197	216,140
Cost of defined contribution scheme	31,963	32,931
	2,185,748	2,216,258

The average monthly number of employees, including the directors, during the year37 was as follows:

	2024	2023
	No.	No.

Employees	37	40

7.	DIRECTORS' REMUNERATION
		2024	2023
		£	£

Directors' emoluments	401,664	319,290
Directors national insurance	51,762	39,875
Company contributions to defined contribution pension schemes	9,381	6,501
	462,807	365,666

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NATIONWIDE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

CORPORATION TAX
Current tax on profits for the year	5,579,547	2,888,156
	5,579,547	2,888,156

TOTAL CURRENT TAX	5,579,547	2,888,156

DEFERRED TAX
Origination and reversal of timing differences	(3,211)	-
TOTAL DEFERRED TAX	(3,211)	-


	TAXATION ON PROFIT ON ORDINARY ACTIVITIES	5,576,336	2,888,156

Profit on ordinary activities before tax

22,502,739

12,548,713

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023: 23.52%)	5,625,685	2,951,526
EFFECTS OF:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	3,089	13,873
Adjustments to tax charge in respect of prior periods	-	21,175
Fixed asset differences	-	(798)
Remeasurement of deferred tax for changes in tax rates	-	446
Deferred tax not recognised	(1,751)	(7,522)
Group relief	(50,687)	(90,544)
TOTAL TAX CHARGE FOR THE YEAR	5,576,336	2,888,156

FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

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NATIONWIDE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	TANGIBLE FIXED ASSETS

	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£
COST OR VALUATION
At 1 January 2024	85,205	71,443	57,609	214,257
Additions	-	32,752	9,447	42,199
At 31 December 2024	85,205	104,195	67,056	256,456
DEPRECIATION
At 1 January 2024	40,079	32,163	42,218	114,460
Charge for the year on owned assets	20,081	26,132	9,037	55,250
At 31 December 2024	60,160	58,295	51,255	169,710
NET BOOK VALUE
At 31 December 2024	25,045	45,900	15,801	86,746
At 31 December 2023	45,126	39,280	15,391	99,797

10.	DEBTORS
		2024	2023
		£	£

DUE AFTER MORE THAN ONE YEAR
Amounts recoverable on L/T leases and loans	35,903,432	41,408,438
	35,903,432	41,408,438

					2024	2023
					£	£

DUE WITHIN ONE YEAR
Trade debtors	18,558	2,652
Amounts owed by group undertakings	8,935,261	-
Prepayments and accrued income	33,091	32,946
Leases and loans receivable	16,587,830	15,098,124
Deferred taxation	3,211	-
	25,577,951	15,133,722

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NATIONWIDE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Within one year	31,431,785	29,337,468
Between 1-5 years	53,113,869	56,930,992
Over 5 years	93,661	-
	84,639,315	86,268,460

The present value of those future receivables is as follows:

					2024	2023
					£	£


Within one year	15,855,773	15,191,459
Between 1-5 years	37,346,494	41,963,255
Over 5 years	85,080	218,224
	53,287,347	57,372,938

12.	CASH AND CASH EQUIVALENTS
		2024	2023
		£	£

Cash at bank and in hand	6,930,363	2,738,297
	6,930,363	2,738,297

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2024	2023
		£	£

Trade creditors	948,993	866,009
Amounts owed to group undertakings	-	11,281,987
Corporation tax	3,819,694	395,976
Other taxation and social security	388,942	413,137
Other creditors	2,945	3,690
Accruals and other creditors	208,406	216,346
	5,368,980	13,177,145

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NATIONWIDE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14.	DEFERRED TAXATION

		2024
		£

	Charged to profit or loss	3,211
	AT END OF YEAR	3,211

The deferred tax asset is made up as follows:
	2024	2023
	£	£

	Timing differences	3,211	-
		3,211	-

15.	SHARE CAPITAL
		2024	2023
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

20,000,000 (2023: 20,000,000) Ordinary shares of £1.00 each	20,000,000	20,000,000

16.	RELATED PARTY TRANSACTIONS
	The company has taken advantage of exemptions under FRS102 to not disclose transactions with its parent, Goldmore Asset Management Limited. During the year the Company employed services amounting to £5,899,230 (2023: £5,022,820) provided by a company under common control. At the end of the year the balance owed to this company was £Nil (2023: £Nil).

17.	CONTROLLING PARTY

At the year end, the company was a subsidiary of Goldmore Asset Management Limited. Consolidated group accounts are available from Companies House, Crown Way, Maindy, CF14 3UZ.

Page 17