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REGISTERED NUMBER: 01537235 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

FINANCE & LEASING (LONDON) LIMITED

FINANCE & LEASING (LONDON) LIMITED (REGISTERED NUMBER: 01537235)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FINANCE & LEASING (LONDON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: T G Garner
J M Webb





SECRETARY: J M Webb





REGISTERED OFFICE: 4 Centurion Court
31 Woodford Road
South Woodford
London
E18 2BQ





REGISTERED NUMBER: 01537235 (England and Wales)





ACCOUNTANTS: Clemence Hoar Cummings
Chartered Accountants
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN

FINANCE & LEASING (LONDON) LIMITED (REGISTERED NUMBER: 01537235)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 36,756 49,634

CURRENT ASSETS
Debtors 5 1,404,031 2,991,174
Cash at bank and in hand 326,651 39,862
1,730,682 3,031,036
CREDITORS
Amounts falling due within one year 6 18,131 1,273,854
NET CURRENT ASSETS 1,712,551 1,757,182
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,749,307

1,806,816

CREDITORS
Amounts falling due after more than
one year

7

-

70,678
NET ASSETS 1,749,307 1,736,138

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,748,307 1,735,138
SHAREHOLDERS' FUNDS 1,749,307 1,736,138

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

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

FINANCE & LEASING (LONDON) LIMITED (REGISTERED NUMBER: 01537235)

BALANCE SHEET - continued
31ST DECEMBER 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 2nd May 2025 and were signed on its behalf by:




T G Garner - Director



J M Webb - Director


FINANCE & LEASING (LONDON) LIMITED (REGISTERED NUMBER: 01537235)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Finance & Leasing (London) 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 leasing income and hire purchase interest receivable from agreements issued. For each agreement, turnover is recognised on a straight line basis over the life of the agreement.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 5 years

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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

FINANCE & LEASING (LONDON) LIMITED (REGISTERED NUMBER: 01537235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2024 174,878 8,698 183,576
Additions - 150 150
At 31st December 2024 174,878 8,848 183,726
DEPRECIATION
At 1st January 2024 126,309 7,633 133,942
Charge for year 12,142 886 13,028
At 31st December 2024 138,451 8,519 146,970
NET BOOK VALUE
At 31st December 2024 36,427 329 36,756
At 31st December 2023 48,569 1,065 49,634

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 15,428 16,836
Leasing debtors 261,091 282,208
Hire purchase debtors 646,412 1,323,802
Directors' current accounts - 435
Taxation - 3,250
VAT 5,585 -
Prepayments and accrued income 29,347 28,266
957,863 1,654,797

Amounts falling due after more than one year:
Leasing debtors 110,916 246,594
Hire purchase debtors 335,252 1,089,783
446,168 1,336,377

Aggregate amounts 1,404,031 2,991,174

FINANCE & LEASING (LONDON) LIMITED (REGISTERED NUMBER: 01537235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 23,942
Amounts due under block discount &
hire purchase agreements less than 1
year


-


1,213,877
Trade creditors 299 209
Taxation 25 -
Pensions - 6
VAT - 15,998
Other creditors 1,125 -
Other creditors - 1,270
Directors' current accounts 1,112 -
Accrued expenses 15,570 18,552
18,131 1,273,854

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 10,000
Bank loans - 2-5 years - 4,167
Amounts due under block discount &
hire purchase agreements 1-2 years

-

56,511
- 70,678

8. SECURED DEBTS

There are no charges in place.

9. OTHER FINANCIAL COMMITMENTS

Future rental income due from leasing and hire purchase agreements entered into prior to
31st December 2024 amounts to £1,610,618 (2023 - £3,739,561).

Future hire purchase and block discounting instalments payable in total by the Company on agreements entered into prior to 31st December 2024 amount to £Nil (2023 - £1,350,876).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors were owed by company £1,112 at the Balance Sheet date. (2023 - The company was owed £435.)

11. ACCOUNTING FOR LEASES

The cost of assets acquired in the year for the purpose of letting under finance leases amounted to
£Nil (2023 - £91,450). The aggregate rentals receivable under finance leases for the year amounted to £265,803 (2023 - £509,200). The interest element is recognised as income in the period in which it accrues, and amounted to £61,064 (2023 - £122,805).