REGISTERED NUMBER: 01650495 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

FIRST ASSET FINANCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S C Jones

Mr M C Vodden

Mr P Sherrington

REGISTERED OFFICE:

Capital Tower

91 Waterloo Road

London

SE1 8RT

REGISTERED NUMBER:

01650495 (England and Wales)

ACCOUNTANTS:

TBW Accountancy Limited

S2 Mill House Centre

108 Commercial Road

Totton

Southampton

Hampshire

SO40 3AE

FIXED ASSETS

Tangible assets

4

3,434

244

CURRENT ASSETS

Debtors

5

144,424

39,001

Prepayments and accrued income

24,334

20,418

Cash at bank

830,218

674,501

998,976

733,920

CREDITORS

Amounts falling due within one year

6

765,249

377,882

NET CURRENT ASSETS

233,727

356,038

TOTAL ASSETS LESS CURRENT LIABILITIES

237,161

356,282

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Capital redemption reserve

60,000

60,000

Retained earnings

127,161

246,282

SHAREHOLDERS' FUNDS

237,161

356,282

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 16 April 2026 and were signed on its behalf by:

Mr P Sherrington - Director

1.	STATUTORY INFORMATION

First Asset 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.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Fees and commissions are earned from services provided to clients. Fees and commissions earned on completion of a transaction is recognised when the event occurs. Fees and commissions that are provided over a period of time are recognised over the period in which the service is provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures, fittings and equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 taxation

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 year 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.

Fixed asset investments

Fixed asset investments are carried in the accounts at market value, with movements in the value recognised in the income statement

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

and

equipment

£

COST

At 1 October 2024

8,015

Additions

4,235

At 30 September 2025

12,250

DEPRECIATION

At 1 October 2024

7,771

Charge for year

1,045

At 30 September 2025

8,816

NET BOOK VALUE

At 30 September 2025

3,434

At 30 September 2024

244

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

141,270

30,785

Amounts owed by group undertakings

-

5,716

Other debtors

160

1,390

Directors' current accounts

-

47

VAT

2,994

569

Deferred tax asset

-

494

144,424

39,001

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

139,410

26,552

Amounts owed to group undertakings

319,901

119,514

Corporation tax

60,669

36,787

Social security and other taxes

1,559

1,712

Other creditors

3,545

3,924

Directors' current accounts

2,690

2,690

Accruals and deferred income

237,475

186,703

765,249

377,882

7.	ULTIMATE CONTROLLING PARTY

At the year end the parent undertaking of the smallest and the largest group of undertakings for which group financial statements are drawn up and of which the company is a member is FAF Holdings Limited, with registered office at Capital Tower, 91 Waterloo Road, London, SE1 8RT.

Copies of the financial statements of FAF Holdings Limited are available at Companies House, Crown Way, Cardiff, CF14 3UZ.