Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3132022-04-01falseNo description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07925968 2022-04-01 2023-03-31 07925968 2021-04-01 2022-03-31 07925968 2023-03-31 07925968 2022-03-31 07925968 c:Director1 2022-04-01 2023-03-31 07925968 d:OfficeEquipment 2023-03-31 07925968 d:OfficeEquipment 2022-03-31 07925968 d:CurrentFinancialInstruments 2023-03-31 07925968 d:CurrentFinancialInstruments 2022-03-31 07925968 d:Non-currentFinancialInstruments 2023-03-31 07925968 d:Non-currentFinancialInstruments 2022-03-31 07925968 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07925968 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07925968 d:ShareCapital 2023-03-31 07925968 d:ShareCapital 2022-03-31 07925968 d:RetainedEarningsAccumulatedLosses 2023-03-31 07925968 d:RetainedEarningsAccumulatedLosses 2022-03-31 07925968 c:FRS102 2022-04-01 2023-03-31 07925968 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07925968 c:FullAccounts 2022-04-01 2023-03-31 07925968 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07925968 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 07925968









GENERAL ASSET MANAGEMENT LEASING LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
GENERAL ASSET MANAGEMENT LEASING LTD
REGISTERED NUMBER: 07925968

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 5 
-
2,161

Debtors: amounts falling due within one year
 5 
12,536
55,875

Cash at bank and in hand
 6 
53,407
30,662

  
65,943
88,698

Creditors: amounts falling due within one year
 7 
(37,487)
(74,685)

Net current assets
  
 
 
28,456
 
 
14,013

Total assets less current liabilities
  
28,456
14,013

  

Net assets
  
28,456
14,013


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
28,256
13,813

  
28,456
14,013


Page 1

 
GENERAL ASSET MANAGEMENT LEASING LTD
REGISTERED NUMBER: 07925968
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 October 2023.




G Willis
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
GENERAL ASSET MANAGEMENT LEASING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

General Asset Management Leasing Ltd is a private company, limited by shares, incorporated in England and Wales. United Kingdom, with a registration number 07925968. The address of the registered office is Mill Green House, Mill Green Road, Haywards Heath, West Sussex, RH16 1XJ. The nature of the company's operations and principal activities is financial leasing.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of income from finance leasing contracts, being the excess of total rentals received over the cost of the net investment in finance leasing contracts, is allocated to accounting periods over the life of the lease using the actuarial before tax method, in order to give a smooth rate of return on the investment in the lease agreements. Commission costs are written off over the life of the agreement using actuarial before tax method.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
GENERAL ASSET MANAGEMENT LEASING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.



 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
GENERAL ASSET MANAGEMENT LEASING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2022
4,067



At 31 March 2023

4,067



Depreciation


At 1 April 2022
4,067



At 31 March 2023

4,067



Net book value



At 31 March 2023
-



At 31 March 2022
-

Page 5

 
GENERAL ASSET MANAGEMENT LEASING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Trade debtors
-
2,161

-
2,161


2023
2022
£
£

Due within one year

Trade debtors
11,954
55,198

Prepayments and accrued income
582
677

12,536
55,875



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
53,407
30,662

53,407
30,662



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
1,875

Corporation tax
13,944
6,179

Other taxation and social security
3,089
2,874

Other creditors
2,042
27,699

Accruals and deferred income
18,412
36,058

37,487
74,685


Page 6

 
GENERAL ASSET MANAGEMENT LEASING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Related party transactions

During the year there were no material transactions not concluded under normal market conditions with
related parties.


9.


Controlling party

The ultimate parent undertaking is Nexus Funding Ltd, a company registered in England and Wales. There is no ultimate controlling party.

 
Page 7