Purchase Finance Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00240631 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PURCHASE FINANCE COMPANY LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms S C M Arrowsmith

Mr A R Heygate

Mr G D Marriage

Mr G E Pullan

SECRETARY:

Mr C L Freedland

REGISTERED OFFICE:

21 Arlington Street

London

SW1A 1RN

REGISTERED NUMBER:

00240631 (England and Wales)

AUDITORS:

Xeinadin Audit Limited, Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

FIXED ASSETS

Investments

4

100

CURRENT ASSETS

Investments

3,858,645

3,934,151

CREDITORS

Amounts falling due within one year

2,516,727

NET CURRENT ASSETS

1,341,918

1,417,424

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,342,018

1,417,524

PROVISIONS FOR LIABILITIES

332,115

350,992

NET ASSETS

1,009,903

1,066,532

CAPITAL AND RESERVES

Called up share capital

13

Fair value reserve

996,346

826,903

Retained earnings

13,544

239,616

SHAREHOLDERS' FUNDS

1,009,903

1,066,532

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 Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 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 Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mr A R Heygate - Director

Mr G D Marriage - Director

1.	STATUTORY INFORMATION

Purchase Finance Company Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of accounting

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.

Preparation of consolidated financial statements

The financial statements contain information about Purchase Finance Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, The Millers' Mutual Association, 21 Arlington Street, London, SW1A 1RN.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Investments

Listed investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Short term creditors

Short term creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2024

and 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

At 31 December 2023

100

The investment represents 100% of the ordinary share capital of Eastcastle Investment Trust Company Limited.

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Thurairatnam Sudarshan (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited, Statutory Auditor

6.	CONTINGENT LIABILITIES

There were no contingent liabilities at either the beginning or end of the financial year.

7.	CAPITAL COMMITMENTS

The company had no capital commitments at 31 December 2024 or 31 December 2023.

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

The company is a subsidiary undertaking of The Millers' Mutual Association, an unincorporated body of 21 Arlington Street, London SW1A 1RN. The largest and smallest group in which the results of the company are consolidated is that headed by the ultimate parent body, The Millers' Mutual Association.