ASSET FINANCE SOLUTIONS (UK) LTD

1. ASSET FINANCE SOLUTIONS (UK) LTD 2015-11-23 → present
2. AFS FINANCE LIMITED 2014-09-19 → 2015-11-23

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PM+M Solutions for Business LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

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

Significant events

• “A significant development during the second half of the financial year was the impact felt across the finance industry following the Court of Appeal, not only ruling in favour of 3 claimants in consumer car finance claims, but going further in stating that credit brokers had a fiduciary duty to their customers. This caused a flurry of activity and a fair amount of consternation across the industry.”
• “There was subsequently an appeal made to the Supreme Court by the two finance companies involved and they basically reversed the Court of Appeal decisions and the potential for a fiduciary relationship. There was still a sting in the tail though as they ruled that one of the claimants was vulnerable and so unsophisticated that he had been taken advantage of and the finance had been deemed unfair and was awarded compensation.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  -3.7%

  £7,521,089 → £7,244,231

• Net assets

  -14.2%

  £5,063,379 → £4,343,856

• Employees

  -8.3%

  12 → 11

• Profit before tax

  -16.4%

  £4,104,718 → £3,430,137

• Wages

  -0.9%

  £389,659 → £386,147

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers