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Company registration number: 05149688
| FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 MAY 2025
| SWITCHSURE FINANCE LIMITED
SWITCHSURE FINANCE LIMITED |  |
COMPANY INFORMATION
Directors | P Dellow
| D Fogelman
| R Wickings
Registered number | 05149688
Registered office | The Pavilion
| Botleigh Grange Business Park
| Hedge End
| Southampton
| SO30 2AF
Trading Address | Piper House
| 14 West Place
| West Road
| Harlow
| Essex
| CM20 2GY
Independent auditor | Menzies LLP
| Chartered Accountants & Statutory Auditor
| 4th Floor
| 95 Gresham Street
| London
| EC2V 7AB
SWITCHSURE FINANCE LIMITED |  |
CONTENTS
| Page
Statement of Financial Position | 1
Notes to the Financial Statements | 2 - 5
SWITCHSURE FINANCE LIMITED REGISTERED NUMBER:05149688 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 MAY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors | 5 | 3,654,167 |  | 3,680,158 |
Cash at bank and in hand |  | 68 |  | 7,024 |
|  | 3,654,235 |  | 3,687,182 |
Creditors: amounts falling due within one year | 6 | (799,571) |  | (931,053) |
Net current assets |  |  | 2,854,664 |  | 2,756,129
Total assets less current liabilities |  |  | 2,854,664 |  | 2,756,129
Creditors: amounts falling due after more than one year | 7 |  | (667,052) |  | (827,654)
Net assets |  |  | 2,187,612 |  | 1,928,475
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 10 |  | 10
Profit and loss account |  |  | 2,187,602 |  | 1,928,465
|  |  | 2,187,612 |  | 1,928,475
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
P Dellow
Director
Date: 19 February 2026
The notes on pages 2 to 5 form part of these financial statements. Page 1
SWITCHSURE FINANCE LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Switchsure Finance Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Pavilion, Botleigh Grange Business Park, Hedge End, Southampton, Hampshire, SO30 2AF. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue represents amounts receivable for goods and services net of VAT and trade discounts. Revenue for the sale of equipment is recognised at the point of sale. Maintenance costs and interest are recognised on a straight line basis over the term of the contract.
| 2.3 | Operating leases: the Company as lessor
Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term. Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Page 2
SWITCHSURE FINANCE LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.6 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | Over the life of the rental agreement
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.7 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with 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.
3. | Employees
| The Company has no employees other than the Directors, who did not receive any remuneration (2024 - £NIL).
Page 3
SWITCHSURE FINANCE LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
4. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost or valuation |
| At 1 June 2024 | 140,870
| At 31 May 2025 | 140,870
| Depreciation |
| At 1 June 2024 | 140,870
| At 31 May 2025 | 140,870
| Net book value |
| At 31 May 2025 | -
| At 31 May 2024 | -
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 1,363,406 | 1,806,715
|  | 1,363,406 | 1,806,715
| Due within one year |  |
| Trade debtors | 120,092 | 176,613
| Amounts owed by group undertakings | 1,113,714 | 357,784
| Other debtors | 1,050,196 | 1,229,365
| Prepayments and accrued income | 6,759 | 42,345
| Tax recoverable | - | 67,336
|  | 3,654,167 | 3,680,158
Page 4
SWITCHSURE FINANCE LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 47,495 | 29,731
| Other taxation and social security | 38,683 | 82,067
| Other creditors | 152,598 | 123,599
| Accruals and deferred income | 560,795 | 695,656
|  | 799,571 | 931,053
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accruals and deferred income | 667,052 | 827,654
|  | 667,052 | 827,654
8.Other financial commitments Loans included within entities of the group that the Company is a part are secured by fixed and floating charges over the assets of the Company and the group. At the year end the loans amounted to £72,859,862 (2023: £66,833,106).
9. | Controlling party
The parent undertaking of the smallest group in which consolidated financial statements are prepared, which include this company, is SCCI Group Limited. The company's registered address is The Pavilion, Botleigh Grange Business Park, Hedge End, Southampton, SO30 2AF.
10. | Auditor's information
The auditor's report on the financial statements for the year ended 31 May 2025 was unqualified. The audit report was signed on 19 February 2026 by Robin Hopkins FCA (Senior Statutory Auditor) on behalf of Menzies LLP.
Page 5