REGISTERED NUMBER: 03957532 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

KINGSLEY ASSET FINANCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Jonathan Charles Smith

Richard Ormisher

Peter Anthony Farrington

SECRETARY:

Lee James Knight

REGISTERED OFFICE:

Crosses Farm

Shaw Brow

Whittle-le-Woods

Chorley

Lancashire

PR6 7HG

REGISTERED NUMBER:

03957532 (England and Wales)

AUDITORS:

Wallwork Nelson & Johnson

Chartered Accountants & Statutory Auditors

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

4

243,565

1,478,038

Investment property

5

1,291,698

1,291,698

1,535,263

2,769,736

CURRENT ASSETS

Debtors

6

26,104,742

22,961,808

Cash at bank and in hand

522,997

300,497

26,627,739

23,262,305

CREDITORS

Amounts falling due within one year

7

14,446,724

11,382,040

NET CURRENT ASSETS

12,181,015

11,880,265

TOTAL ASSETS LESS CURRENT LIABILITIES

13,716,278

14,650,001

CREDITORS

Amounts falling due after more than one year

8

(9,256,568

)

(10,651,287

)

PROVISIONS FOR LIABILITIES

11

(158,218

)

(42,649

)

NET ASSETS

4,301,492

3,956,065

CAPITAL AND RESERVES

Called up share capital

12

1,500,100

1,500,100

Retained earnings

2,801,392

2,455,965

SHAREHOLDERS' FUNDS

4,301,492

3,956,065

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 22 October 2026 and were signed on its behalf by:

Jonathan Charles Smith - Director

1.	STATUTORY INFORMATION

Kingsley 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.

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.

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.

Income recognition

Income from finance leases is allocated to accounting periods over the primary term of the lease in a manner that produces a constant periodic rate of return on the company's net investment in the lease. The sum of digits method is used to achieve this allocation.

Income from hire purchase agreements is similarly allocated to accounting periods over the term of the agreement using the sum of digits method, so as to reflect a constant rate of return on the outstanding investment.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

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

Freehold property

- not provided

Fixtures and fittings

- 15% on reducing balance

Motor vehicles

- 25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held 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 payments is treated as a liability.

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account. The carrying amount of the financial asset is reduced to reflect the estimated recoverable amount.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2025 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2025

1,176,048

218,538

207,460

1,602,046

Additions

-

3,196

-

3,196

Disposals

(1,176,048

)

-

-

(1,176,048

)

At 31 March 2026

-

221,734

207,460

429,194

DEPRECIATION

At 1 April 2025

-

77,705

46,303

124,008

Charge for year

-

21,332

40,289

61,621

At 31 March 2026

-

99,037

86,592

185,629

NET BOOK VALUE

At 31 March 2026

-

122,697

120,868

243,565

At 31 March 2025

1,176,048

140,833

161,157

1,478,038

The freehold property at Crosses Farm, Shaw Brow was sold for proceeds of £924,045 to a connected party, Crosses Farm Limited.

The freehold property at 2-4 Mill Lane was sold for proceeds of £166,658 to an external party.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2025

and 31 March 2026

207,460

DEPRECIATION

At 1 April 2025

46,302

Charge for year

40,289

At 31 March 2026

86,591

NET BOOK VALUE

At 31 March 2026

120,869

At 31 March 2025

161,158

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

1,291,698

NET BOOK VALUE

At 31 March 2026

1,291,698

At 31 March 2025

1,291,698

The directors have reviewed the valuation and market conditions at the reporting date and are satisfied that the valuation remains a reliable estimate of the fair value of the property. Legal, fixed and floating charges have been granted over the properties in favour of the company's lenders as security for borrowing facilities.

6.

DEBTORS

31/3/26

31/3/25

£

£

Amounts falling due within one year:

Amounts receivable in respect of finance leases

1,499,882

2,122,834

Amounts receivable in respect of hire purchase contracts

10,232,006

6,922,511

Other debtors

235,909

211,133

Prepayments

424,867

321,466

12,392,664

9,577,944

Amounts falling due after more than one year:

Amounts receivable in respect of finance leases

2,745,186

3,929,388

Amounts receivable in respect of hire purchase contracts

10,966,892

9,454,476

13,712,078

13,383,864

Aggregate amounts

26,104,742

22,961,808

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

£

Bank loans and overdrafts

-

107,613

Block discount finance loans

12,862,837

10,046,686

Hire purchase contracts (see note 9)

51,986

48,524

Trade creditors

359,723

306,796

Amounts owed to group undertakings

49,500

47,000

Tax

65,937

93,532

Social security and other taxes

18,647

15,399

VAT

117,101

113,437

Other creditors

84,693

93,882

Other loans

396,300

159,171

Directors' current accounts

440,000

350,000

14,446,724

11,382,040

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/26

31/3/25

£

£

Bank loans - 1-2 years

-

111,113

Bank loans - 2-5 years

-

239,233

Bank loans - more than 5 years

-

76,721

Block discount - 1-2 years

5,884,908

5,407,101

Block discount - 2-5 years

2,359,515

3,398,336

Hire purchase contracts (see note 9)

36,709

88,695

Other loans

975,436

1,330,088

9,256,568

10,651,287

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - more than 5 years

-

76,721

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31/3/26

31/3/25

£

£

Net obligations repayable:

Within one year

51,986

48,524

Between one and five years

36,709

88,695

88,695

137,219

10.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/26

31/3/25

£

£

Bank loans

-

534,680

Block discount finance loans

21,107,260

18,852,123

Hire purchase contracts

88,695

137,219

Director's loan account

440,000

350,000

Other loans

996,648

-

22,632,603

19,874,022

There are various fixed and floating charges in relation to block discount finance loans. These are secured against the relevant leases financed.

Jonathan Charles Smith and Suzanne Smith, a connected party, hold a legal charge over the investment property in relation to the monies introduced to the company via the directors' loan account.

Of the £1,371,736 owed in other loans, £996,648 is owed to Charles Street Commercial Investments Limited, who hold a fixed charge, a floating charge and a negative pledge, secured against the investment property.

11.	PROVISIONS FOR LIABILITIES

31/3/26

31/3/25

£

£

Deferred tax

158,218

42,649

Deferred

tax

£

Balance at 1 April 2025

42,649

Charge to Income Statement during year

115,569

Balance at 31 March 2026

158,218

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/26

31/3/25

value:

£

£

100

Ordinary

£1

100

100

1,500,000

Preference

£1

1,500,000

1,500,000

1,500,100

1,500,100

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Johnson BA (Hons) FCCA (Senior Statutory Auditor)

for and on behalf of Wallwork Nelson & Johnson

14.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available under paragraph 33.1A of FRS 102 not to disclose transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

Transactions with directors

During the year, the company paid rent totalling £7,500 (2025: £30,000) to Jonathan Charles Smith, a director of the company, in respect of his share of the property at 2-4 Mill Lane. This property was disposed of during the financial year, and no further commitments remain.

Transactions with connected companies

During the year, the company sold freehold property at Crosses Farm, Shaw Brow to Crosses Farm Limited, a company under common control, for total consideration of £924,045. Following the sale, the company entered into a lease agreement with Crosses Farm Limited and paid rent totalling £29,088 during the period. Both the disposal consideration and the rent subsequently charged are at market value.