REGISTERED NUMBER: 03261771 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Hedley Asset Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L S Scott

E P Scott

SECRETARY:

Mrs L S Scott

REGISTERED OFFICE:

Williamson House

Swan Square

Haverfordwest

PEMBROKESHIRE

SA61 2AN

REGISTERED NUMBER:

03261771 (England and Wales)

BANKERS:

H.S.B.C.

41 High Street

Haverfordwest

Pembrokeshire

SA61 2BU

FIXED ASSETS

Intangible assets

4

-

3,500

Tangible assets

5

6,212

6,994

Investments

6

97,290

91,481

103,502

101,975

CURRENT ASSETS

Debtors

7

16,760

13,840

Cash at bank and in hand

168,382

151,203

185,142

165,043

CREDITORS

Amounts falling due within one year

8

40,481

36,268

NET CURRENT ASSETS

144,661

128,775

TOTAL ASSETS LESS CURRENT LIABILITIES

248,163

230,750

CREDITORS

Amounts falling due after more than one year

9

(3,095

)

(12,500

)

PROVISIONS FOR LIABILITIES

(1,135

)

(1,274

)

NET ASSETS

243,933

216,976

CAPITAL AND RESERVES

Called up share capital

40

40

Capital redemption reserve

60

60

Retained earnings

243,833

216,876

SHAREHOLDERS' FUNDS

243,933

216,976

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2025 and were signed on its behalf by:

Mrs L S Scott - Director

E P Scott - Director

1.	STATUTORY INFORMATION

Hedley Asset Management 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.

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

Turnover represents new commissions which are taken to credit when policies are raised. Renewal commissions are credited when received irrespective of the inception date or period.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

15% on reducing balance

Computer equipment

-

20% straight line basis

Financial instruments

Financial instruments are recorded at fair value.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

14,000

AMORTISATION

At 1 April 2024

10,500

Charge for year

3,500

At 31 March 2025

14,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

3,500

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

16,623

104,368

120,991

Additions

483

473

956

At 31 March 2025

17,106

104,841

121,947

DEPRECIATION

At 1 April 2024

12,359

101,638

113,997

Charge for year

712

1,026

1,738

At 31 March 2025

13,071

102,664

115,735

NET BOOK VALUE

At 31 March 2025

4,035

2,177

6,212

At 31 March 2024

4,264

2,730

6,994

6.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.3.25

31.3.24

£

£

Bond

97,290

91,481

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

11,537

8,414

Prepayments and accrued income

5,223

5,426

16,760

13,840

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

10,985

7,377

Tax

6,548

3,544

Social Security and Other Taxes

1,326

3,745

Other creditors

407

543

Accruals and Deferred Income

7,896

7,464

Directors' current accounts

3,319

3,595

40,481

36,268

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 2-5 years

3,095

12,500

10.	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:

31.3.25

31.3.24

£

£

Mrs L S Scott

Balance outstanding at start of year

(3,595

)

(3,595

)

Amounts advanced

276

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(3,319

)

(3,595

)

11.	RELATED PARTY DISCLOSURES

The following related party transactions took place during the period:

Linda Scott Limited

A company controlled by Mr E.P. Scott (Director)

Included in commissions payable is £169,474 paid to the above company (2024: £162,322)

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs L S Scott.