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REGISTERED NUMBER: 09312506 (England and Wales)








































Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Carlease (UK) Limited

Carlease (UK) Limited (Registered number: 09312506)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Carlease (UK) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr R A King
Mr P J King
Mr M A King





REGISTERED OFFICE: Kings Business Centre
Warrington Road
Leigh
Lancashire
WN7 3XG





REGISTERED NUMBER: 09312506 (England and Wales)





ACCOUNTANTS: Buxton Accounting LLP
Chartered Accountants
98 Middlewich Road
Northwich
Cheshire
CW9 7DA

Carlease (UK) Limited (Registered number: 09312506)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 49,307 63,241
Tangible assets 5 13,325 33,184
62,632 96,425

CURRENT ASSETS
Debtors 6 452,264 314,202
Cash at bank 576,583 651,006
1,028,847 965,208
CREDITORS
Amounts falling due within one year 7 263,744 284,448
NET CURRENT ASSETS 765,103 680,760
TOTAL ASSETS LESS CURRENT
LIABILITIES

827,735

777,185

PROVISIONS FOR LIABILITIES 8 3,531 6,487
NET ASSETS 824,204 770,698

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 10 814,204 760,698
SHAREHOLDERS' FUNDS 824,204 770,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Carlease (UK) Limited (Registered number: 09312506)

Balance Sheet - continued
31 March 2024


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 22 October 2024 and were signed on its behalf by:





Mr M A King - Director


Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Carlease (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

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Detailed financial projections have also been prepared as part of this review to ensure that adequate cash resources are in place for the foreseeable future which support the directors' assessment to continuing to prepare the accounts on a going concern basis. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Good will is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purpose of impairment testing, goodwill is allocated to the cash generating units expected to benefit from the acquisition. Cash generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently where there is an indication that the unit may be impaired. If the recoverable amount of the cash generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of the assets less their residual values over their useful economic lives on the following bases:

Fixtures, fittings and equipment - 15% straight line
Computer equipment - 15% straight line
Motor vehicles - 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit and loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of the fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial INstruments Issues" of FRS 102 to all of its financial instruments.

Financial instruments are recognised 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 trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and subsequently carried at amortised cost using the effective interest method.

Taxation
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current and deferred tax is charged or credited to profit and loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Differences between contributions payable in the year and the contributions actually paid are shown as either accruals or prepayments.

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the costs of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or as to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Website
Goodwill costs Totals
£    £    £   
COST
At 1 April 2023 100,000 55,466 155,466
Additions - 10,500 10,500
At 31 March 2024 100,000 65,966 165,966
AMORTISATION
At 1 April 2023 70,000 22,225 92,225
Amortisation for year 10,000 14,434 24,434
At 31 March 2024 80,000 36,659 116,659
NET BOOK VALUE
At 31 March 2024 20,000 29,307 49,307
At 31 March 2023 30,000 33,241 63,241

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 46,753 33,334 33,142 113,229
Additions - - 4,120 4,120
Disposals - (33,334 ) - (33,334 )
At 31 March 2024 46,753 - 37,262 84,015
DEPRECIATION
At 1 April 2023 45,031 16,667 18,347 80,045
Charge for year 1,722 - 5,590 7,312
Eliminated on disposal - (16,667 ) - (16,667 )
At 31 March 2024 46,753 - 23,937 70,690
NET BOOK VALUE
At 31 March 2024 - - 13,325 13,325
At 31 March 2023 1,722 16,667 14,795 33,184

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 64,143 78,417
Other debtors 248,954 65,163
Directors' current accounts 60,000 120,000
Corporation tax 16,397 -
Prepayments and accrued income 62,770 50,622
452,264 314,202

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 14,588 32,329
Corporation tax 65,041 56,314
Social security and other taxes 59,822 64,490
Other creditors 124,293 131,315
263,744 284,448

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,531 6,487

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 6,487
Credit to Income Statement during year (2,956 )
Balance at 31 March 2024 3,531

9. CALLED UP SHARE CAPITAL

The company had the following allotted, issued and fully paid share capital as at 31 March 2024.

Ordinary A Shares - 3,500 shares of £1 each, totalling £3,500 (2023: 4,000 shares of £1 each, totalling £4,000).

Ordinary B Shares - 3,000 shares of £1 each, totalling £3,000 (2023: 3,000 shares of £1 each, totalling £3,000).

Ordinary C Shares - 3,000 shares of £1 each, totalling £3,000 (2023: 3,000 shares of £1 each, totalling £3,000).

Ordinary D Shares - 500 shares of £1 each, totalling £500 (2023: £nil).

10. RESERVES
Retained
earnings
£   

At 1 April 2023 760,698
Profit for the year 170,669
Dividends (117,163 )
At 31 March 2024 814,204

Carlease (UK) Limited (Registered number: 09312506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


11. RELATED PARTY DISCLOSURES

Transactions with related parties

During the year the company entered into the following transactions with related parties.


Recharged expenses

Entities under common control transactions amounted to £70,552 (2023: £72,505).


The following amounts were outstanding at the reporting end date:


Amounts owed to related parties

Key management personnel balance of £99,426 as at the year end date (2023: £99,426).

The amount is repayable on demand and no interest has been charged.


Amounts owed by related partied

Entities under common control owed the company £248,954 as at the balance sheet date (2023: £65,163).

One director owed the company £60,000 as at the balance sheet date. This will be repaid within nine months of the year end and interest will be charged at the HMRC approved rate.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the Board of Directors.