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REGISTERED NUMBER: 00526370 (England and Wales)

TOWY FINANCE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2025 TO 31 OCTOBER 2025

| TOWY FINANCE LIMITED (REGISTERED NUMBER: 00526370) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2025 TO 31 OCTOBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| TOWY FINANCE LIMITED |

COMPANY INFORMATION

FOR THE PERIOD 1 APRIL 2025 TO 31 OCTOBER 2025

| DIRECTOR: | D B Evans

| REGISTERED OFFICE: | C/O Bevan Buckland LLP

| Ground Floor

| Cardigan House

| Swansea

| SA7 9LA

| REGISTERED NUMBER: | 00526370 (England and Wales)

| ACCOUNTANTS: | Bevan Buckland LLP

| Ground Floor Cardigan House

| Castle Court

| Swansea Enterprise Park

| Swansea

| SA7 9LA

| TOWY FINANCE LIMITED (REGISTERED NUMBER: 00526370) |

BALANCE SHEET

31 OCTOBER 2025

| 2025 |  | 2025

| Notes | £ | £ |

CURRENT ASSETS

Stocks | 390,000 |  | 362,226 |  |

Debtors | 4 | 332,549 |  | 45,527 |  |

Cash at bank | 218,497 |  | 593,796 |  |

941,046 |  | 1,001,549 |  |

CREDITORS

Amounts falling due within one year | 5 | 10,000 |  | 20,538 |  |

NET CURRENT ASSETS | 931,046 |  | 981,011 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 931,046 |  | 981,011 |  |

CAPITAL AND RESERVES

Called up share capital | 50 |  | 50 |  |

Capital redemption reserve | 50 |  | 50 |  |

Retained earnings | 930,946 |  | 980,911 |  |

931,046 |  | 981,011 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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 Statement of Income and Retained Earnings has not been delivered.

| TOWY FINANCE LIMITED (REGISTERED NUMBER: 00526370) |

BALANCE SHEET - continued

31 OCTOBER 2025

The financial statements were approved by the director and authorised for issue on 23 March 2026 and were signed by:

D B Evans - Director

| TOWY FINANCE LIMITED (REGISTERED NUMBER: 00526370) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2025 TO 31 OCTOBER 2025

1. | STATUTORY INFORMATION

| Towy 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.

| Going concern

| The company ceased trading during the financial year. All assets and liabilities have been realised, settled, or adjusted to reflect their expected recoverable or settlement amounts.

| The directors have resolved to place the company into Members’ Voluntary Liquidation, as they intend to retire and no suitable purchaser for the business could be identified. In light of these circumstances, the directors consider it appropriate to prepare the financial statements on a basis other than going concern.

| Under this approach, assets are stated at their estimated realisable values and liabilities include all known obligations together with expected costs associated with the liquidation. The directors confirm that the directors’ loan balance is expected to be recovered in full and that accrued expenses reflect the estimated remaining costs of the liquidation process.

| A liquidator had not been appointed at the balance sheet date but was appointed subsequent to the year end.

| Turnover

| Turnover represents interest receivable on the company's loan book and sales proceeds in respect of properties repossessed from creditors that defaulted on their loans. Interest is credited to the profit and loss account to give a constant periodic rate of return over the life of each agreement. Where recovery is doubtful appropriate provisions are made.

| Stocks

| Repossessed properties held as stock are measured at the lower of cost-comprising base cost and directly attributable repairs and repossession expenses-and estimated selling price less costs to complete and sell.

| Taxation

| Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| 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.

| TOWY FINANCE LIMITED (REGISTERED NUMBER: 00526370) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 OCTOBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' 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.

| Basic financial assets

| Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

| Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

| Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, 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 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 profit or loss.

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Basic financial liabilities

| Basic financial liabilities, including trade and other payables, 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.

| 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 and equity instruments are classified according to the substance of the contractual arrangements entered into, An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| TOWY FINANCE LIMITED (REGISTERED NUMBER: 00526370) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 OCTOBER 2025

2. | ACCOUNTING POLICIES - continued

| Derecognition of financial liabilities

| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| Provisions for Liabilities

| Provisions are recognised when the company has a present obligation (legal and constructive) from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

| Debtors

| Trade and other debtors are recognised at the settlement amount due after any trade discount offered.Prepayments are valued at the amount prepaid net of any trade discounts due.

| Creditors and provisions

| Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

| Cash at bank and cash in hand

| Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening the deposit or similar account.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 1 (2025 - 1 ) .

4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2025 |

£ | £ |

| Trade debtors | - |  | 28,127 |  |

| Other debtors | - |  | 14,854 |  |

| Directors' loan accounts | 332,549 |  | - |  |

| Prepayments | - |  | 2,546 |  |

332,549 |  | 45,527 |  |

5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2025 |

£ | £ |

| Directors' loan accounts | - |  | 15,529 |  |

| Accrued expenses | 10,000 |  | 5,009 |  |

10,000 |  | 20,538 |  |

| At the year end there is an amount of £0 (2025: £15,529) owed to the director. This is provided on terms that are interest-free and repayable on demand.

6. | PENSION COMMITMENTS

| The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounts to £0 (2025: £10,185).

| TOWY FINANCE LIMITED (REGISTERED NUMBER: 00526370) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 OCTOBER 2025

7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the period ended 31 October 2025 and the year ended 31 March 2025:

2025 | 2025 |

£ | £ |

| D B Evans

| Balance outstanding at start of period | (15,529 | ) | (350 | ) |

| Amounts advanced | 348,078 |  | 1,500 |  |

| Amounts repaid | - |  | (16,679 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of period | 332,549 |  | (15,529 | ) |