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REGISTERED NUMBER: 09357809 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

CSI Leasing Europe Limited

CSI Leasing Europe Limited (Registered number: 09357809)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CSI Leasing Europe Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: B D Naylor
F J Heredia Prieto
M Tureckova



SECRETARY: B D Naylor



REGISTERED OFFICE: 1-2 Chambers Way
Thorncliffe Park Estate
Newton Chambers Road
Sheffield
South Yorkshire
S35 2PH



REGISTERED NUMBER: 09357809 (England and Wales)



INDEPENDENT AUDITORS: Landin Wilcock & Co
Statutory Auditor
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Mizuho Bank
Mizuho House
30 Old Bailey
London
EC4M 7AU



BANKERS: Deutsche Bank AG
1 Great Winchester Street
London
EC2N 2DB

CSI Leasing Europe Limited (Registered number: 09357809)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes €    €   
CURRENT ASSETS
Debtors 5 60,644,605 49,210,061
Cash at bank 82,805 5,359,507
60,727,410 54,569,568
CREDITORS
Amounts falling due within one year 6 (59,097,666 ) (53,909,962 )
NET CURRENT ASSETS 1,629,744 659,606
TOTAL ASSETS LESS CURRENT LIABILITIES 1,629,744 659,606

CAPITAL AND RESERVES
Called up share capital 126 126
Retained earnings 1,629,618 659,480
SHAREHOLDERS' FUNDS 1,629,744 659,606

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 Board of Directors and authorised for issue on 21 September 2024 and were signed on its behalf by:





B D Naylor - Director


CSI Leasing Europe Limited (Registered number: 09357809)

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


1. STATUTORY INFORMATION

CSI Leasing Europe 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 Euro (€).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on a going concern basis due to the continuing support of the parent company.

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 comprises the fair value of the consideration received or receivable for the interest charged on loans made by the company in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction cost), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financial transaction. If any arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


CSI Leasing Europe Limited (Registered number: 09357809)

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


3. ACCOUNTING POLICIES - continued
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.

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

4. EMPLOYEES AND DIRECTORS

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
€    €   
Amounts owed by group undertakings 60,644,605 49,127,901
Tax - 82,160
60,644,605 49,210,061

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
€    €   
Bank loans and overdrafts 14,356,594 4,194,710
Amounts owed to group undertakings 44,441,051 49,663,943
Tax 279,124 33,697
Accruals and deferred income 20,897 17,612
59,097,666 53,909,962

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tom Henshaw (Senior Statutory Auditor)
for and on behalf of Landin Wilcock & Co

CSI Leasing Europe Limited (Registered number: 09357809)

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


8. RELATED PARTY DISCLOSURES

The company's immediate parent is CSI Leasing Inc, incorporated in the United States of America.

The ultimate controlling party is Tokyo Century Corporation, a company incorporated in Japan.

The parent of the smallest group in which these financial statements are consolidated is CSI Leasing Inc, incorporated in the United States of America.

The address of CSI Leasing Inc is:

9990 Old Olive Street Road
St. Louis
Missouri
63 141