REGISTERED NUMBER: NI644410 (Northern Ireland)

TERMON FINANCE LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTOR:

Patrick Kieran Murphy

REGISTERED OFFICE:

91 Sluggan Road

Pomeroy

Dungannon

Tyrone

BT70 2UP

REGISTERED NUMBER:

NI644410 (Northern Ireland)

ACCOUNTANTS:

Cooper Parry Advisory Limited

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

CURRENT ASSETS

Receivables: amounts falling due within one year

5

440,487

479,255

Receivables: amounts falling due after more than one year

5

1,923,442

2,053,531

Cash at bank

1,123,118

881,260

3,487,047

3,414,046

PAYABLES

Amounts falling due within one year

6

(31,685

)

(31,922

)

NET CURRENT ASSETS

3,455,362

3,382,124

TOTAL ASSETS LESS CURRENT LIABILITIES

3,455,362

3,382,124

CAPITAL AND RESERVES

Called up share capital

7

3,000,000

3,000,000

Retained earnings

455,362

382,124

SHAREHOLDERS' FUNDS

3,455,362

3,382,124

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 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.

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 28 November 2025 and were signed by:

Kieran Murphy - Director

1.	STATUTORY INFORMATION

Termon Finance Limited is a private company, limited by shares, registered in Northern Ireland within the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention, on a going concern basis.

Revenue

Revenue comprises the interest accrued on loans issued, on a daily basis, for the year.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial

instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts

owed by related companies are initially recognised at transaction price, unless the arrangement

constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Such assets are subsequently carried at

amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for

objective evidence of impairment. If an asset is impaired, the impairment loss is the difference

between the carrying amount and the present value of the estimated cash flows discounted at the

asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment

was recognised, the impairment is reversed. The reversal is such that the current carrying amount

does not exceed what the carrying amount would have been had the impairment not previously

been recognised. The impairment reversal is recognised in the Income Statement.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and hire

purchase contracts are initially recognised at transaction price,unless the arrangement constitutes

a financing transaction, where the debt instrument is measured at the present value of the future

receipts discounted at a market rate of interest. Debt instruments are subsequently carried at

amortised cost, using the effective interest rate method. Fees paid on the establishment of loan

facilities are recognised as transaction costs of the loan to the extent that it is probable that some

or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down

occurs. To the extent there is no evidence that it is probable that some or all of the facility will be

drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the

period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary

course of business from suppliers. Accounts payable are classified as current liabilities if payment

is due within one year or less. If not, they are presented as non-current liabilities. Trade payables

are recognised initially at transaction price and subsequently measured at amortised cost using the

effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual

obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements

when there is a legally enforceable right to set off the recognised amounts and there is an

intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Impairment of financial assets

Financial assets, other than those held at fair value through the Income Statement, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Income Statement.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

4.	EMPLOYEES AND DIRECTORS

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

5.	RECEIVABLES

2025

2024

£

£

Amounts falling due within one year:

Amounts owed by related parties

440,487

479,255

Amounts falling due after more than one year:

Other debtors

1,923,442

2,053,531

Aggregate amounts

2,363,929

2,532,786

6.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by related parties

5,962

5,962

Taxation and social security

24,373

24,766

Other payables

1,350

1,194

31,685

31,922

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

3,000,000

Ordinary

1

3,000,000

3,000,000

8.	RELATED PARTY DISCLOSURES

At the year end there were amounts owed to related parties of £5,962 (2024: £5,962) as disclosed in note 6.

At the year end there were amounts due from related parties of £2,213,442 (2024: £2,343,531) disclosed within other debtors in note 5.

Related parties are deemed to be related by virtue of common directors and shareholders.

No other transactions with related parties were undertaken such as are required to be disclosed under FRS102 paragraph 33.

9.	ULTIMATE CONTROLLING PARTY

At the year end the controlling party is Kieran Murphy.