Registered number
07094089
Aspire Leasing Limited
Filleted Accounts
30 September 2023
Aspire Leasing Limited
Registered number: 07094089
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 25,109 25,828
Cash at bank and in hand 27,053 29,442
52,162 55,270
Creditors: amounts falling due within one year 4 (4,685) (4,546)
Net current assets 47,477 50,724
Total assets less current liabilities 47,477 50,724
Creditors: amounts falling due after more than one year 5 (5,246) (8,026)
Provisions for liabilities (1,691) (1,911)
Net assets 40,540 40,787
Capital and reserves
Called up share capital 4 2,000 2,000
Profit and loss account 38,540 38,787
Shareholder's funds 40,540 40,787
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. A. Muller
Director
Approved by the board on 12 February 2024
Aspire Leasing Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Income from finance lease agreements is recognised over the primary period of the lease on a straight line basis.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Deferred taxation assets are not recognised unless the related taxation liability is expected
to crystallise within the next twelve months.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Debtors 2023 2022
£ £
Debrors due under finance leases 8,897 10,056
Amounts owed by group undertakings and undertakings in which the company has a participating interest 15,772 15,772
Other debtors 440 -
25,109 25,828
Amounts due after more than one year included above 3,089 3,793
The cost of assets acquired for the purpose of letting under finance leases and hire purchase
contracts during the period amounted to £3,564.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,000 3,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,000 1,000
Other taxes and social security costs 390 (9)
Other creditors 295 555
4,685 4,546
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,246 8,026
6 Share capital Nominal 2023 2023 2022
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 2,000 2,000 2,000
7 Related party transactions
The company had the following transactions with related parties during the period.
A) Assets acquired from Aspire Catering Limited for the purpose of letting under finance leases, during the period, at a cost of £3,564 (2022:£6,300). These assets were acquired at cost from Aspire Catering Limited, the holding company, and the amount owed by Aspire Catering Limited at the year end was £14,772. Management charges of £1,000 (2022:£1,000) were also charged by Aspire Catering Limited to the company during this period.

B) The bank overdraft facilities are personally guaranteed by Mr. A. Muller to the sum of £10,000.
8 Controlling party
The directors consider the company's ultimate parent undertaking to be Aspire Catering Limited, a company incorporated in Great Britain.
The ultimate controlling party is Mr. A. Muller.
9 Other information
Aspire Leasing Limited is a private company limited by shares and incorporated in England. Its registered office is:
7 Cumplins Business Court,
Dunleys Hill,
Odiham,
Hook,
Hampshire, RG29 1DU.
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