REGISTERED NUMBER: 06743125 (England and Wales)

Unaudited Financial Statements

for the Period 1 June 2024 to 30 September 2025

for

Fosse Asset Finance Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Sullivan

J L Sullivan

REGISTERED OFFICE:

Park House

37 Clarence Street

Leicester

LE1 3RW

REGISTERED NUMBER:

06743125 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

13,491

18,167

CURRENT ASSETS

Stocks

89,000

89,000

Debtors

5

298,658

364,945

Cash at bank

21,203

224,634

408,861

678,579

CREDITORS

Amounts falling due within one year

6

(315,686

)

(162,146

)

NET CURRENT ASSETS

93,175

516,433

TOTAL ASSETS LESS CURRENT LIABILITIES

106,666

534,600

CREDITORS

Amounts falling due after more than one year

7

(92,680

)

(264,080

)

NET ASSETS

13,986

270,520

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

13,786

270,320

SHAREHOLDERS' FUNDS

13,986

270,520

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 February 2026 and were signed on its behalf by:

I Sullivan - Director

1.	STATUTORY INFORMATION

Fosse 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

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.

Finance lease and hire purchase

The net investment in finance lease and hire purchase consists of future rentals receivable and residual values less the unamortised portion of total finance charges relating to future periods.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payment is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2024

56,769

9,291

66,060

Additions

-

1,221

1,221

At 30 September 2025

56,769

10,512

67,281

DEPRECIATION

At 1 June 2024

38,806

9,087

47,893

Charge for period

5,617

280

5,897

At 30 September 2025

44,423

9,367

53,790

NET BOOK VALUE

At 30 September 2025

12,346

1,145

13,491

At 31 May 2024

17,963

204

18,167

5.

DEBTORS

30.9.25

31.5.24

£

£

Amounts falling due within one year:

Trade debtors

2,000

12,588

Amounts receivable in respect of hire purchase contracts

73,066

62,788

Other debtors

63,775

34,120

138,841

109,496

Amounts falling due after more than one year:

Amounts receivable in respect of hire purchase contracts

159,817

255,449

Aggregate amounts

298,658

364,945

Other debtors include prepayments and accrued income of £4,281 (2024 - £4,792)

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

31.5.24

£

£

Bank loans and overdrafts

8,411

10,000

Hire purchase contracts

126,912

92,658

Trade creditors

165,357

240

Taxation and social security

-

43,693

Other creditors

15,006

15,555

315,686

162,146

Other creditors include accruals and deferred income of £2,946 (2024 - £2,867)

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.25

31.5.24

£

£

Bank loans

-

11,745

Hire purchase contracts

92,680

252,335

92,680

264,080

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.25

31.5.24

£

£

Hire purchase contracts

219,592

344,993

Hire purchases are secured on the assets as acquired.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 September 2025 and the year ended 31 May 2024:

30.9.25

31.5.24

£

£

J L Sullivan and I Sullivan

Balance outstanding at start of period

-

-

Amounts advanced

106,530

101,910

Amounts repaid

(106,530

)

(101,910

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

-

The above loan was subject to HMRC's official rate of interest and was repayable on demand.