REGISTERED NUMBER: 07019168 (England and Wales)

INITIAL FINANCE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I S Cummine

Mr H J Cummine

Mr A G Cummine

SECRETARY:

Mr H J Cummine

REGISTERED OFFICE:

Grosvenor House

Basing View

Basingstoke

RG21 4HG

REGISTERED NUMBER:

07019168 (England and Wales)

ACCOUNTANTS:

SMH Sheards

Vernon House

40 New North Road

Huddersfield

West Yorkshire

HD1 5LS

CURRENT ASSETS

Debtors

4

417,406

421,307

Cash at bank

60,273

28,179

477,679

449,486

CREDITORS

Amounts falling due within one year

5

(303,281

)

(252,740

)

NET CURRENT ASSETS

174,398

196,746

TOTAL ASSETS LESS CURRENT LIABILITIES

174,398

196,746

CREDITORS

Amounts falling due after more than one year

6

(220,950

)

(222,339

)

NET LIABILITIES

(46,552

)

(25,593

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(46,652

)

(25,693

)

SHAREHOLDERS' FUNDS

(46,552

)

(25,593

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2026 and were signed on its behalf by:

Mr H J Cummine - Director

1.	STATUTORY INFORMATION

Initial Finance 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 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.

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of the assumption depends on the continuing support of the company's finance providers. The financial statements do not include any adjustments that would result if the support did not continue.

Turnover

Turnover represents interest and fees receivable on loans, excluding value added tax, recorded when the company becomes entitled to the income on a monthly basis.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors, amounts owed by associated undertakings and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each balance sheet date, with any impairment losses being 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 in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including trade and other creditors, bank loans, accruals and amounts owed to associated undertakings, are initially recognised at transaction price.

Debt instruments are subsequently measured at amortised cost using the effective interest method.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

59,837

64,285

Other debtors

2,929

598

62,766

64,883

Amounts falling due after more than one year:

Trade debtors

354,640

356,424

Aggregate amounts

417,406

421,307

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

1,389

2,042

Amounts owed to associates

89,158

37,556

Taxation and social security

1,397

1,892

Other creditors

211,337

211,250

303,281

252,740

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

1,389

Other creditors

220,950

220,950

220,950

222,339

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,389

3,431

Bank loans are secured by the Government backed Bounce Back Loan Scheme.

Facility loans are secured by way of a block of loan agreements that are assigned to the lender.

8.	RELATED PARTY DISCLOSURES

Creditors contain an amount of £42,000 (2024 - £42,000) owing to one of the directors and his wife. The loans are repayable on demand and are interest free.