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REGISTERED NUMBER: 04437484 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 MARCH 2025 |

| FOR |

| GENERAL ASSET FINANCE LIMITED |

GENERAL ASSET FINANCE LIMITED (REGISTERED NUMBER: 04437484)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

| Page |

Company Information | 1 |

Accountants' Report | 2 |

Statement of Financial Position | 3 |  | to |  | 4

Notes to the Financial Statements | 5 |  | to |  | 8

GENERAL ASSET FINANCE LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTORS: | Mr M J Stephens

| Mrs J M Stephens

| SECRETARY: | Mrs J M Stephens

| REGISTERED OFFICE: | 31 Pitch Pond Close

| Knotty Green

| Beaconsfield

| Buckinghamshire

| HP9 1XY

| REGISTERED NUMBER: | 04437484 (England and Wales)

| ACCOUNTANTS: | Seymour Taylor Limited

| First Floor North

| 40 Oxford Road

| High Wycombe

| Buckinghamshire

| HP11 2EE

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

GENERAL ASSET FINANCE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of General Asset Finance Limited for the year ended 31 March 2025 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of General Asset Finance Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of General Asset Finance Limited and state those matters that we have agreed to state to the Board of Directors of General Asset Finance Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than General Asset Finance Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that General Asset Finance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of General Asset Finance Limited. You consider that General Asset Finance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of General Asset Finance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Seymour Taylor Limited

First Floor North

40 Oxford Road

High Wycombe

Buckinghamshire

HP11 2EE

8 October 2025

GENERAL ASSET FINANCE LIMITED (REGISTERED NUMBER: 04437484)

STATEMENT OF FINANCIAL POSITION

31 MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 1,942 |  | 2,330 |  |

CURRENT ASSETS

Debtors | 5 | 10,381 |  | 5,338 |  |

Cash at bank | 81,474 |  | 25,957 |  |

91,855 |  | 31,295 |  |

CREDITORS

Amounts falling due within one year | 6 | 52,132 |  | 29,643 |  |

NET CURRENT ASSETS | 39,723 |  | 1,652 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 41,665 |  | 3,982 |  |

PROVISIONS FOR LIABILITIES | 3,485 |  | 3,586 |  |

NET ASSETS | 38,180 |  | 396 |  |

CAPITAL AND RESERVES

Called up share capital | 7 | 100 |  | 100 |  |

Retained earnings | 38,080 |  | 296 |  |

SHAREHOLDERS' FUNDS | 38,180 |  | 396 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GENERAL ASSET FINANCE LIMITED (REGISTERED NUMBER: 04437484)

STATEMENT OF FINANCIAL POSITION - continued

31 MARCH 2025

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

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 8 October 2025 and were signed on its behalf by:

Mr M J Stephens - Director

GENERAL ASSET FINANCE LIMITED (REGISTERED NUMBER: 04437484)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| General Asset Finance Limited is a private company limited by shares and incorporated in England and Wales. The address of the company's registered office is 14 Assheton Road, Beaconsfield, Buckinghamshire, HP9 2NP.The registered number is 04437484 .

| The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

| Turnover

| The turnover shown in the profit and loss account represents commission receivable from the brokering of finance facilities for both private individuals and businesses.

| In common with other companies operating within the financial services sector who receive commission based revenue, there may be potential clawbacks of commissions received where customers terminate; settle early or or otherwise fail to complete their agreements.

| Provision for such clawbacks is made in the financial statements on the basis of the company's history of clawbacks.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | straight line - 10%

| Computer equipment | - | straight line - 33%

GENERAL ASSET FINANCE LIMITED (REGISTERED NUMBER: 04437484)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.

| Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.

| Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed asset, if and when all conditions for retaining the tax allowances have been met, are not provided for. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.

| Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted.

| 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.

| Financial instruments

| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

GENERAL ASSET FINANCE LIMITED (REGISTERED NUMBER: 04437484)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 5,038 |  | 7,794 |  | 12,832 |  |

| Disposals | (900 | ) | (1,807 | ) | (2,707 | ) |

| At 31 March 2025 | 4,138 |  | 5,987 |  | 10,125 |  |

| DEPRECIATION

| At 1 April 2024 | 2,708 |  | 7,794 |  | 10,502 |  |

| Charge for year | 388 |  | - |  | 388 |  |

| Eliminated on disposal | (900 | ) | (1,807 | ) | (2,707 | ) |

| At 31 March 2025 | 2,196 |  | 5,987 |  | 8,183 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,942 |  | - |  | 1,942 |  |

| At 31 March 2024 | 2,330 |  | - |  | 2,330 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other debtors | 10,381 |  | 5,338 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | - |  | 1,130 |  |

| Taxation and social security | 36,245 |  | 24,165 |  |

| Other creditors | 15,887 |  | 4,348 |  |

52,132 |  | 29,643 |  |

7. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

GENERAL ASSET FINANCE LIMITED (REGISTERED NUMBER: 04437484)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 | 2024 |

£ | £ |

| Mr M J Stephens

| Balance outstanding at start of year | 2,850 |  | 1,494 |  |

| Amounts advanced | 65,752 |  | 1,668 |  |

| Amounts repaid | (79,244 | ) | (312 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (10,642 | ) | 2,850 |  |

| The loan is interest free and repayable on demand.