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Registered number: 04956738









FIRST CAPITAL LEASING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FIRST CAPITAL LEASING LIMITED
 
 
COMPANY INFORMATION


Director
D J Mogg 




Registered number
04956738



Registered office
Capital House
1084-1086 Christchurch Road

Bournemouth

Dorset

BH7 6DT




Accountants
Grant Thornton UK LLP
Chartered Accountants

First Floor, One Valpy

20 Valpy Street

Reading

RG1 1AR





 
FIRST CAPITAL LEASING LIMITED
 

CONTENTS



Page
Accountants' report
 
1
Statement of financial position
 
2
Notes to the financial statements
 
3 - 5


  
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Report to the director on the preparation of the unaudited statutory financial statements of First Capital Leasing Limited for the year ended 31 December 2023 

We have compiled the accompanying financial statements of First Capital Leasing Limited (the ‘company’)  based on the information you have provided. These financial statements comprise the Statement of Financial Position of the company as at 31 December 2023  and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's directors, as a body,  in accordance with the terms of our engagement letter dated 19 January 2024Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's directors, as a body,  in this report in accordance with our engagement letter dated 19 January 2024. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its directors, as a body,  for our work or for this report.




Grant Thornton UK LLP
 
Chartered Accountants
  
Reading

29 July 2024
Page 1

 
FIRST CAPITAL LEASING LIMITED
REGISTERED NUMBER:04956738

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
2
2

  
2
2

Total assets less current liabilities
  
 
 
2
 
 
2

  

Net assets
  
2
2


Capital and reserves
  

Called up share capital 
 6 
2
2

Total shareholder's funds
  
2
2


For the year ended 31 December 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 director acknowledges his 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 income statement 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 by: 




D J Mogg
Director

Date: 29 July 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
FIRST CAPITAL LEASING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

First Capital Leasing Limited ("the Company") is a private company limited by shares,  incorporated in England and Wales. Registered number 04956738. Its registered office is located at Capital House, 1084-1086 Christchurch Road, Bournemouth, Dorset, BH7 6DT.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's financial statements are presented in Sterling and all values are rounded to the nearest pound (£) except when otherwise stated.
The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have no current plans to wind up the entity and it will continue to be supported by the ultimate parent undertaking, STAR Asset Finance Limited. On this basis the Directors have continued to prepare the financial statements on a going concern basis.

  
2.3

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.
Financial instruments are recognised in the Company's Statement of financial position 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 other debtors, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's other debtors due with the operating cycle fall into this category of financial instruments.

Page 3

 
FIRST CAPITAL LEASING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:




4.


Employees

The average monthly number of employees during the year was 0 (2022: 0).




5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
2
2


Amounts owed by group undertakings are non-interest bearing, unsecured and repayable on demand.


6.


Called up share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



2 (2022: 2) Ordinary shares of £1 each
2
2



7.


Contingent liabilities

The Company is subject to credit facility agreements that have registered a negative pledge and fixed and floating charges over the current and future assets of the Company.


8.


Related party transactions

The Company has taken advantage of the exemption available in section 33 of FRS 102 'Related Party Disclosures' to not disclose transactions with other wholly owned subsidiaries in the Group.

Page 4

 
FIRST CAPITAL LEASING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Immediate and ultimate controlling party

The Company is controlled by First Capital Finance Limited by virtue of its 100% shareholding in the company.   
The ultimate parent company and the smallest and largest group undertaking to consolidate these financial statements is STAR Asset Finance Limited, a company incorporated in Guernsey.Its registered office address is First Floor, St Peter's House, LeBordage, St Peter Port, GY1 1BR, Guernsey. Copies of the STAR Asset Finance Limited accounts are available from Companies House.
The ultimate controlling party is STAR Finance Partnership LP which is owned by a number of partners, none of which hold a majority shareholding and as such do not require disclosure.

Page 5