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REGISTERED NUMBER: 08329297 (England and Wales)














Hackney Lease Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Hackney Lease Limited (Registered number: 08329297)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hackney Lease Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: I T Perkins
Mrs W J Perkins



SECRETARY:



REGISTERED OFFICE: 10 Victoria Road South
Southsea
Hampshire
PO5 2DA



REGISTERED NUMBER: 08329297 (England and Wales)



ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA



BANKERS: National Westminster Bank
22 Mengham Road
Hayling Island
Hampshire
PO11 9BH

Hackney Lease Limited (Registered number: 08329297)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 143,611 163,060

CURRENT ASSETS
Debtors 5 21,075 38,816
Cash at bank 32,589 15,135
53,664 53,951
CREDITORS
Amounts falling due within one year 6 66,958 81,289
NET CURRENT LIABILITIES (13,294 ) (27,338 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,317

135,722

CREDITORS
Amounts falling due after more than one year 7 (26,272 ) (31,809 )

PROVISIONS FOR LIABILITIES 9 (27,286 ) (28,489 )
NET ASSETS 76,759 75,424

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 66,759 65,424
SHAREHOLDERS' FUNDS 76,759 75,424

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

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

Hackney Lease Limited (Registered number: 08329297)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:




I T Perkins - Director



Mrs W J Perkins - Director


Hackney Lease Limited (Registered number: 08329297)

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

1. STATUTORY INFORMATION

Hackney Lease 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxi plates - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

Hackney Lease Limited (Registered number: 08329297)

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

4. TANGIBLE FIXED ASSETS
Taxi Motor Computer
plates vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 32,400 349,730 8,469 390,599
Additions - 84,946 2,498 87,444
Disposals - (117,494 ) - (117,494 )
At 31 December 2023 32,400 317,182 10,967 360,549
DEPRECIATION
At 1 January 2023 28,488 191,965 7,086 227,539
Charge for year 1,060 43,539 1,453 46,052
Eliminated on disposal - (56,653 ) - (56,653 )
At 31 December 2023 29,548 178,851 8,539 216,938
NET BOOK VALUE
At 31 December 2023 2,852 138,331 2,428 143,611
At 31 December 2022 3,912 157,765 1,383 163,060

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,193 35,248
Other debtors 2,782 2,582
Due from related company 2,500 -
Prepayments 3,600 986
21,075 38,816

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 16,708 25,580
Trade creditors (2 ) -
Taxation 7,960 -
Social security and other taxes 1,220 -
VAT 9,431 16,255
Other creditors 2,095 -
Loan 26,598 36,449
Directors' current accounts 448 605
Accrued expenses 2,500 2,400
66,958 81,289

Hackney Lease Limited (Registered number: 08329297)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 26,272 31,809

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 42,980 57,389

The hire purchase creditors are secured upon specific motor vehicles.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 27,286 28,489

Deferred
tax
£   
Balance at 1 January 2023 28,489
Accelerated capital allowances (1,203 )
Balance at 31 December 2023 27,286

10. ULTIMATE CONTROLLING PARTY

Each of the two directors own 50% of the issued share capital so by virtue of their combined holding they are the ultimate controlling parties.