Definite Finance Company Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02380575

Definite Finance Company Limited

Filleted Unaudited Financial Statements

31 March 2025

Definite Finance Company Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Definite Finance Company Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Definite Finance Company Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Definite Finance Company Limited for the year ended 31 March 2025, which comprise the statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

BROOKS & CO. Chartered Accountants

9 Cheam Road Ewell Epsom Surrey KT17 1SP

22 December 2025

Definite Finance Company Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	74,070	82,581

Current assets

Debtors	6	3,073	( 14,326)
Cash at bank and in hand		50,106	45,220
		--------	--------
		53,179	30,894

Creditors: amounts falling due within one year	7	521,622	513,284
		---------	---------
Net current liabilities		468,443	482,390
		---------	---------
Total assets less current liabilities		( 394,373)	( 399,809)
		---------	---------
Net liabilities		( 394,373)	( 399,809)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 394,473)	( 399,909)
	---------	---------
Shareholder deficit	( 394,373)	( 399,809)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Definite Finance Company Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

G A Judd
Director

Company registration number: 02380575

Definite Finance Company Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lodge House, P O Box 35, Lupton Road, Wallingford, Oxfordshire, OX10 9WA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

The turnover in the Profit and Loss Account represents rent, management fees and hire charges receivable during the year, excluding value added tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	20% per annum on cost
Motor Vehicles	-	25% reducing balance
Equipment	-	20% per annum on cost

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: Nil).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	49,620	86,598	25,000	7,186	168,404
	--------	--------	--------	-------	---------
Depreciation
At 1 April 2024	–	73,654	5,000	7,169	85,823
Charge for the year	–	3,494	5,000	17	8,511
	--------	--------	--------	-------	---------
At 31 March 2025	–	77,148	10,000	7,186	94,334
	--------	--------	--------	-------	---------
Carrying amount
At 31 March 2025	49,620	9,450	15,000	–	74,070
	--------	--------	--------	-------	---------
At 31 March 2024	49,620	12,944	20,000	17	82,581
	--------	--------	--------	-------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	92,337	73,564
Other debtors	( 89,264)	( 87,890)
	--------	--------
	3,073	( 14,326)
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	86,175	94,879
Trade creditors	223,918	171,605
Corporation tax	–	9,503
Social security and other taxes	185,965	208,779
Other creditors	25,564	28,518
	---------	---------
	521,622	513,284
	---------	---------

The bank overdraft is secured by a legal charge over properties and by a debenture.

8. Related party transactions

The company is a wholly owned subsidiary of George Verno Properties Limited which is the ultimate controlling company and in which G A Judd is the managing director and majority shareholder. G A Judd , a director of the company, has given a personal guarantee to the company's bankers to secure the company's borrowings.