Company registration number 08185244 (England and Wales)
LSC Finance Ltd
Unaudited financial statements
For the year ended 31 August 2025
LSC Finance Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
LSC Finance Ltd
Statement of financial position
As at 31 August 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
690
940
Investments
5
2,405,529
3,273,632
2,406,219
3,274,572
Current assets
Debtors
6
23,824,335
23,403,855
Cash at bank and in hand
193,083
30,867
24,017,418
23,434,722
Creditors: amounts falling due within one year
7
(831,764)
(581,179)
Net current assets
23,185,654
22,853,543
Net assets
25,591,873
26,128,115
Capital and reserves
Called up share capital
111
111
Share premium account
13,784
13,784
Profit and loss reserves
25,577,978
26,114,220
Total equity
25,591,873
26,128,115

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements. true

The financial statements were approved by the board of directors and authorised for issue on 14 May 2026 and are signed on its behalf by:
Mr S Morley
Director
Company registration number 08185244 (England and Wales)
LSC Finance Ltd
Notes to the financial statements
For the year ended 31 August 2025
- 2 -
1
Accounting policies
Company information

LSC Finance Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1-7 Fallbarn Road, Rawtenstall, BB4 7NT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents interest and fees on loan advances receivable and arises wholly in the United Kingdom.

Turnover in relation to capital repayment loans is recognised using the sum of digits interest method. The sum of digits method is a calculated method whereby the interest is apportioned over the term of the financial asset. In adopting this method a higher level of income is recognised in the earlier periods of the loan. Acceptance fees are recognised in full when paid by the customer as these do not represent a significant additional cost of finance.

Where there are no capital repayments until the end of the loan term, Turnover is recognised on a straight line basis. Turnover does not continue to be recognised when the customer is in default and there is an expectation that the loan will not be recovered in full.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
- 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The residual values, estimated useful lives and depreciation method of tangible fixed assets are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

LSC Finance Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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 debtors 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LSC Finance Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9

Fixed asset investments

Listed investments are initially recognised at cost and are subsequently re-measured at their fair value. Changes in fair value are recognised in the income statement.

1.10

Income from fixed asset investments

Income from fixed asset investments is received in the form of dividends and is credited to the income statement when received.

1.11

Cost of sales

Cost of sales comprises cost of commission payable, fees and impairment charges in respect of customer loans.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Making judgement based on knowledge of the customer on the level of provision required for impairment of customer loans. Further information received after the settlement of the financial position date may impact on the level of provision required.

LSC Finance Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
4
4
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2024 and 31 August 2025
10,027
Depreciation and impairment
At 1 September 2024
9,087
Depreciation charged in the year
250
At 31 August 2025
9,337
Carrying amount
At 31 August 2025
690
At 31 August 2024
940
5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
2,405,529
3,273,632
LSC Finance Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 September 2024
3,273,632
Additions
553,473
Valuation changes
156,999
Dividends received
13,458
Charges
(7,431)
Disposals
(1,584,602)
At 31 August 2025
2,405,529
Carrying amount
At 31 August 2025
2,405,529
At 31 August 2024
3,273,632
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
6,016,654
6,656,738
Amounts owed by group undertakings
17,506,625
16,642,525
Other debtors
288,497
104,592
23,811,776
23,403,855
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
12,559
-
0
Total debtors
23,824,335
23,403,855
LSC Finance Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 7 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
32,650
2,103
Amounts owed to group undertakings
440,000
220,000
Taxation and social security
4,114
4,240
Other creditors
355,000
354,836
831,764
581,179
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