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REGISTERED NUMBER: 02663399 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Leasing Programmes Limited

Leasing Programmes Limited (Registered number: 02663399)






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

Chartered Accountants' Report 9

Leasing Programmes Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A R Wyeth
Mrs B Atkinson





SECRETARY: Mrs L D Wyeth





REGISTERED OFFICE: Appleton Leas
Holcombe Rogus
Wellington
Somerset
TA21 0NE





REGISTERED NUMBER: 02663399 (England and Wales)





ACCOUNTANTS: Haines Watts
9 Western Road
Launceston
Cornwall
PL15 7AR

Leasing Programmes Limited (Registered number: 02663399)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,313 6,306
Tangible assets 5 109,559 121,197
110,872 127,503

CURRENT ASSETS
Debtors 6 465,483 410,350
Cash at bank and in hand 22,454 103,319
487,937 513,669
CREDITORS
Amounts falling due within one year 7 145,765 222,897
NET CURRENT ASSETS 342,172 290,772
TOTAL ASSETS LESS CURRENT LIABILITIES 453,044 418,275

CREDITORS
Amounts falling due after more than one
year

8

-

45,951
NET ASSETS 453,044 372,324

CAPITAL AND RESERVES
Called up share capital 451,000 451,000
Retained earnings 2,044 (78,676 )
453,044 372,324

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.

Leasing Programmes Limited (Registered number: 02663399)

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 19 November 2024 and were signed on its behalf by:





A R Wyeth - Director


Leasing Programmes Limited (Registered number: 02663399)

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

1. STATUTORY INFORMATION

Leasing Programmes 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 represents interest earned on finance leases, other associated leasing income, rental income and equipment sales. This excludes VAT and trade discounts. Interest earned on finance leases is recognised over the term of the lease so as to produce a constant periodic rate of return on the net investment. All other income is recognised on an invoice basis.

Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Software development - 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 10% on cost and 4% on cost

Leasing Programmes Limited (Registered number: 02663399)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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.

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.

Leasing Programmes Limited (Registered number: 02663399)

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

2. ACCOUNTING POLICIES - continued

Leased assets
Where the company leases out equipment and there is a transfer of substantially all of the risks and rewards of ownership to the lessee, the lease is accounted for as a finance lease. The amount due from the lessee under a finance lease is recorded in the balance sheet as a debtor at the amount of the net investment in the lease after making provision for any bad and doubtful debts.

Where the company leases out equipment for less than its expected useful life or does not transfer substantially all of the risks and rewards of ownership, the lease is accounted for as an operating lease. Rental income is taken to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 35,786
AMORTISATION
At 1 April 2023 29,480
Charge for year 4,993
At 31 March 2024 34,473
NET BOOK VALUE
At 31 March 2024 1,313
At 31 March 2023 6,306

Leasing Programmes Limited (Registered number: 02663399)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 241,922
DEPRECIATION
At 1 April 2023 120,725
Charge for year 11,638
At 31 March 2024 132,363
NET BOOK VALUE
At 31 March 2024 109,559
At 31 March 2023 121,197

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 4,485 8,410
Other debtors 460,998 401,940
465,483 410,350

Included within other debtors are net investments in finance leases of £173,347 (2023: £309,966). The costs of assets acquired for use in finance leases during the year was £0 (2023: £3,002).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 28,806 6,396
Amounts owed to group undertakings 7,545 7,545
Taxation and social security 60,940 69,982
Other creditors 48,474 138,974
145,765 222,897

The company has granted fixed and floating charges on its assets to secure the bank indebtedness.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors - 45,951

Leasing Programmes Limited (Registered number: 02663399)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
A R Wyeth
Balance outstanding at start of year 3,544 (3,217 )
Amounts advanced 188 38,008
Amounts repaid (4,000 ) (31,247 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (268 ) 3,544

The loan is repayable on demand and measured at its transaction price. Interest is charged by the company
at HMRC's official rate for employment benefits on the outstanding amount throughout the year.

10. RELATED PARTY DISCLOSURES

Included in creditors is an amount of £7,545 (2023: £7,545) due to Linklease Limited, the parent company. The amount is repayable on demand and measured at its transaction price. Included in debtors is a loan to Linklease Limited, the parent company amounting to £225,000 (2023 £nil).

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Linklease Limited, a company incorporated in England and Wales, company number 3402048.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Leasing Programmes Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Leasing Programmes Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Leasing Programmes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Leasing Programmes Limited and state those matters that we have agreed to state to the Board of Directors of Leasing Programmes Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Leasing Programmes Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Leasing Programmes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Leasing Programmes Limited. You consider that Leasing Programmes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Leasing Programmes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
9 Western Road
Launceston
Cornwall
PL15 7AR


2 December 2024