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REGISTERED NUMBER: 08698143 (England and Wales)















Director's Report and

Unaudited Financial Statements for the Year Ended 31st December 2023

for

Viola Leasing Management UK Limited

Viola Leasing Management UK Limited (Registered number: 08698143)






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




Page

Company Information 1

Director's Report 2

Statement of Income and Retained Earnings 3

Statement of Financial Position 4

Notes to the Financial Statements 5


Viola Leasing Management UK Limited

Company Information
for the year ended 31st December 2023







DIRECTOR: Mr P C Merritt





REGISTERED OFFICE: 71 Queen Victoria Street
London
United Kingdom
EC4V 4BE





REGISTERED NUMBER: 08698143 (England and Wales)






Viola Leasing Management UK Limited (Registered number: 08698143)

Director's Report
for the year ended 31st December 2023

The director presents his report with the financial statements of the company for the year ended 31st December 2023.

DIRECTOR
Mr P C Merritt held office during the whole of the period from 1st January 2023 to the date of this report.

GOING CONCERN
The directors have considered the appropriateness of adopting the going concern basis in preparation of these financial statements. Having considered the risks and uncertainties to which the company is subject, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least twelve months from the date of approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr P C Merritt - Director


10th September 2024

Viola Leasing Management UK Limited (Registered number: 08698143)

Statement of Income and
Retained Earnings
for the year ended 31st December 2023

2023 2022
Notes £    £   

TURNOVER 1,179,196 406,366

Cost of sales (387,404 ) (141,615 )
GROSS PROFIT 791,792 264,751

Administrative expenses (627,354 ) (3,348 )
164,438 261,403

Other operating income 6,393,324 -
OPERATING PROFIT 4 6,557,762 261,403

Interest receivable and similar income 7,012 177
PROFIT BEFORE TAXATION 6,564,774 261,580

Tax on profit - -
PROFIT FOR THE FINANCIAL YEAR 6,564,774 261,580

Retained earnings at beginning of year 261,677 97

RETAINED EARNINGS AT END OF
YEAR

6,826,451

261,677

Viola Leasing Management UK Limited (Registered number: 08698143)

Statement of Financial Position
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 300,296 -

CURRENT ASSETS
Debtors 6 951,218 262,276
Investments 7 5,897,417 120,000
Cash at bank 11,504 90,465
6,860,139 472,741
CREDITORS
Amounts falling due within one year 8 (333,884 ) (210,964 )
NET CURRENT ASSETS 6,526,255 261,777
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,826,551

261,777

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,826,451 261,677
SHAREHOLDERS' FUNDS 6,826,551 261,777

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

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

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

The financial statements were approved by the director and authorised for issue on 10th September 2024 and were signed by:



Mr P C Merritt - Director


Viola Leasing Management UK Limited (Registered number: 08698143)

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

1. STATUTORY INFORMATION

Viola Leasing Management 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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, which are described in note 2, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgments in applying the Company’s accounting policies
The following are the critical judgments, apart from those involving estimations (which are dealt with separately below), that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in financial statements.

Amounts owed by group companies and loans receivable
The company has loan balances receivable from a group company, and a non group company, which are repayable on demand. In reviewing the need for impairment, the directors review the financial position of the borrower and the status of any interest and capital payments due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable excluding value added tax, and is recognised in the period in which services are provided to the customer.

Software
Software was acquired at book value from a fellow group subsidiary where it had an expected life of 5 years from commissioning. Amortisation has been charged in equal monthly instalments over the remaining 10 months expected life at the transfer date of 30 November 2023.

Viola Leasing Management UK Limited (Registered number: 08698143)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Recognition
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. The financial assets and liabilities of the company consist wholly of basic financial instruments.

Initial measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), and subsequently carried at amortised cost.

Subsequent measurement
Receivables are subsequently measured at amortised cost using the effective interest rate method. Discounting has not been applied to receivables as they are repayable on demand or on term agreements.
Trade payables are subsequently measured at amortised cost using the effective interest method unless payment is due within one year or less, in which case they are measured at the undiscounted amount of cash or other consideration expected to be paid.

Derecognition of financial assets and liabilities
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the company, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Taxation
Current tax is provided at amount expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Software amortisation 33,366 -

Viola Leasing Management UK Limited (Registered number: 08698143)

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

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 333,662
At 31st December 2023 333,662
AMORTISATION
Charge for year 33,366
At 31st December 2023 33,366
NET BOOK VALUE
At 31st December 2023 300,296

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,987 13,916
Owed by group companies 120,000 120,197
Other debtors 829,231 128,163
951,218 262,276

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Loans receivable 5,897,417 120,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 151,921 183,283
Owed to group companies 181,963 -
Taxation and social security - 27,681
333,884 210,964

9. RELATED PARTY DISCLOSURES

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.

Viola Leasing Management UK Limited (Registered number: 08698143)

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

10. ULTIMATE CONTROLLING PARTY

The controlling party is Ms L F Strawson.

The company's immediate parent company is Magical Numbers UK Limited and the ultimate parent company is
Magical Numbers Limited, a company incorporated in Guernsey.

Consolidated financial statements are not prepared as the group qualifies for the small group exemption from
preparing group accounts.

The registered office of Magical Numbers Limited is located at:
PO Box 141,
La Tonnelle House,
Les Banques,
St Sampson,
Guernsey,
GY1 3HS