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REGISTERED NUMBER: 04504933 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st March 2023

for

Motorlease (UK) Limited

Motorlease (UK) Limited (Registered number: 04504933)






Contents of the Financial Statements
for the year ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Motorlease (UK) Limited

Company Information
for the year ended 31st March 2023







DIRECTOR: C Walker





SECRETARY: Mrs J Walker





REGISTERED OFFICE: 16 Redcliff Road
Melton
North Ferriby
North Humberside
HU14 3RS





REGISTERED NUMBER: 04504933 (England and Wales)





ACCOUNTANTS: Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX

Motorlease (UK) Limited (Registered number: 04504933)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,418,944 376,218

CURRENT ASSETS
Stocks 250,168 147,024
Debtors 5 1,347,795 720,166
Cash at bank and in hand 16,353 445,095
1,614,316 1,312,285
CREDITORS
Amounts falling due within one year 6 1,510,709 684,307
NET CURRENT ASSETS 103,607 627,978
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,522,551

1,004,196

CREDITORS
Amounts falling due after more than one
year

7

(2,102,994

)

(280,000

)

PROVISIONS FOR LIABILITIES (439,410 ) (93,580 )
NET ASSETS 980,147 630,616

CAPITAL AND RESERVES
Called up share capital 8 320 50
Retained earnings 979,827 630,566
SHAREHOLDERS' FUNDS 980,147 630,616

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Motorlease (UK) Limited (Registered number: 04504933)

Balance Sheet - continued
31st 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 director and authorised for issue on 14th March 2024 and were signed by:





C Walker - Director


Motorlease (UK) Limited (Registered number: 04504933)

Notes to the Financial Statements
for the year ended 31st March 2023

1. STATUTORY INFORMATION

Motorlease (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

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.

Turnover
Turnover represents net invoiced commission on the sales of vehicles and related services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on cost, 10% on cost and 4% on cost

Website development costs have been capitalised as tangible fixed assets.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Motorlease (UK) Limited (Registered number: 04504933)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2022 450,933
Additions 3,395,392
Disposals (180,729 )
At 31st March 2023 3,665,596
DEPRECIATION
At 1st April 2022 74,715
Charge for year 192,436
Eliminated on disposal (20,499 )
At 31st March 2023 246,652
NET BOOK VALUE
At 31st March 2023 3,418,944
At 31st March 2022 376,218

The net book value of tangible fixed assets includes £ 3,211,516 in respect of assets held under hire purchase contracts.

Motorlease (UK) Limited (Registered number: 04504933)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 448,128 255,120
Amounts owed by group undertakings 181,758 -
Other debtors 717,909 465,046
1,347,795 720,166

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 70,000 70,000
Hire purchase contracts 544,306 -
Trade creditors 112,591 155,840
Taxation and social security 51,272 326,186
Other creditors 732,540 132,281
1,510,709 684,307

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 215,833 280,000
Hire purchase contracts 1,887,161 -
2,102,994 280,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
300 Ordinary £1 300 30
10 A Ordinary £1 10 10
10 B Ordinary £1 10 10
320 50

The following shares were issued during the year as a bonus out of reserves :

270 Ordinary shares of £1

9. OTHER FINANCIAL COMMITMENTS

The property from which the company operates is owned by Chrash Management Services Limited, and the company has provided guarantees to Lloyds Bank plc in respect of Chrash Management Services Limited's loan to purchase that property. The loan outstanding at the balance sheet date was £124,001 (2022 - £138,117).

Motorlease (UK) Limited (Registered number: 04504933)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2023 and 31st March 2022:

2023 2022
£    £   
C Walker
Balance outstanding at start of year 147,141 67,648
Amounts advanced 49,317 147,141
Amounts repaid (147,141 ) (67,648 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,317 147,141

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Motorlease (UK) Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Motorlease (UK) Limited for the year ended 31st March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Motorlease (UK) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Motorlease (UK) Limited and state those matters that we have agreed to state to the director of Motorlease (UK) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Motorlease (UK) Limited and its director for our work or for this report.

It is your duty to ensure that Motorlease (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Motorlease (UK) Limited. You consider that Motorlease (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Motorlease (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX


14th March 2024