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REGISTERED NUMBER: 09312506 (England and Wales)








































Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Carlease (UK) Limited

Carlease (UK) Limited (Registered number: 09312506)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Carlease (UK) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr R A King
Mr P J King
Mr M A King





REGISTERED OFFICE: Kings Business Centre
Warrington Road
Leigh
Lancashire
WN7 3XG





REGISTERED NUMBER: 09312506 (England and Wales)





ACCOUNTANTS: Buxton Accounting LLP
Chartered Accountants
98 Middlewich Road
Northwich
Cheshire
CW9 7DA

Carlease (UK) Limited (Registered number: 09312506)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 63,241 69,614
Tangible assets 5 33,184 45,278
96,425 114,892

CURRENT ASSETS
Debtors 6 314,202 235,646
Cash at bank 651,006 492,752
965,208 728,398
CREDITORS
Amounts falling due within one year 7 284,448 227,557
NET CURRENT ASSETS 680,760 500,841
TOTAL ASSETS LESS CURRENT
LIABILITIES

777,185

615,733

PROVISIONS FOR LIABILITIES 8 6,487 6,932
NET ASSETS 770,698 608,801

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 10 760,698 598,801
SHAREHOLDERS' FUNDS 770,698 608,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Carlease (UK) Limited (Registered number: 09312506)

Balance Sheet - continued
31 March 2023


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 14 November 2023 and were signed on its behalf by:





Mr M A King - Director


Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Carlease (UK) 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

Going concern
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. The potential impacts of the Covid-19 pandemic have been considered and the directors have confirmed that they have taken appropriate measures to mitigate risk, including control of overheads, to help them deal with much of the economic downturn. Detailed financial projections have also been prepared as part of this review to ensure that adequate cash resources are in place for the foreseeable future which support the directors' assessment to continuing to prepare the accounts on a going concern basis. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Good will is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purpose of impairment testing, goodwill is allocated to the cash generating units expected to benefit from the acquisition. Cash generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently where there is an indication that the unit may be impaired. If the recoverable amount of the cash generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

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

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

Fixtures, fittings and equipment - 15% straight line
Computer equipment - 15% straight line
Motor vehicles - 25% straight line

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 and loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of the fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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 trade and other creditors, 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.

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

Equity instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

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 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 trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and subsequently carried at amortised cost using the effective interest method.

Taxation
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current and deferred tax is charged or credited to profit and loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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. Differences between contributions payable in the year and the contributions actually paid are shown as either accruals or prepayments.

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the costs of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or as to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Website
Goodwill costs Totals
£    £    £   
COST
At 1 April 2022 100,000 35,466 135,466
Additions - 20,000 20,000
At 31 March 2023 100,000 55,466 155,466
AMORTISATION
At 1 April 2022 60,000 5,852 65,852
Amortisation for year 10,000 16,373 26,373
At 31 March 2023 70,000 22,225 92,225
NET BOOK VALUE
At 31 March 2023 30,000 33,241 63,241
At 31 March 2022 40,000 29,614 69,614

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 46,753 33,334 24,919 105,006
Additions - - 8,223 8,223
At 31 March 2023 46,753 33,334 33,142 113,229
DEPRECIATION
At 1 April 2022 38,018 8,334 13,376 59,728
Charge for year 7,013 8,333 4,971 20,317
At 31 March 2023 45,031 16,667 18,347 80,045
NET BOOK VALUE
At 31 March 2023 1,722 16,667 14,795 33,184
At 31 March 2022 8,735 25,000 11,543 45,278

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 78,417 144,389
Other debtors 65,163 55,652
Directors' current accounts 120,000 -
Prepayments and accrued income 50,622 35,605
314,202 235,646

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 32,329 24,567
Corporation tax 56,314 9,385
Social security and other taxes 64,490 74,074
Other creditors 131,315 119,531
284,448 227,557

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,487 6,932

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 6,932
Credit to Income Statement during year (445 )
Balance at 31 March 2023 6,487

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4,000 Ordinary A £1 4,000 10,000
3,000 Ordinary B £1 3,000 -
3,000 Ordinary C £1 3,000 -
10,000 10,000

10. RESERVES
Retained
earnings
£   

At 1 April 2022 598,801
Profit for the year 232,422
Dividends (70,525 )
At 31 March 2023 760,698

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


11. RELATED PARTY DISCLOSURES

Transactions with related parties

During the year the company entered into the following transactions with related parties.


Recharged expenses

Entities under common control transactions amounted to £72,505 (2022: £58,380).


The following amounts were outstanding at the reporting end date:


Amounts owed to related parties

Key management personnel balance of £99,426 as at the year end date (2022: £99,426).

The amount is repayable on demand and no interest has been charged.


Amounts owed by related partied

Entities under common control owed the company £65,163 as at the balance sheet date (2022: £55,402).

One director owed the company £120,000 as at the balance sheet date. This will be repaid within nine months of the year end and interest will be charged at the HMRC approved rate.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the Board of Directors.