| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| FOR |
| FINANCE & LEASING (LONDON) LIMITED |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Motor vehicles | - |
| Computer equipment | - |
| 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 |
| 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 |
| Additions |
| At 31st December 2024 |
| DEPRECIATION |
| At 1st January 2024 |
| Charge for year |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| 5. | DEBTORS |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Leasing debtors | 261,091 | 282,208 |
| Hire purchase debtors | 646,412 | 1,323,802 |
| Directors' current accounts | - | 435 |
| Taxation |
| VAT |
| Prepayments and accrued income |
| Amounts falling due after more than one year: |
| Leasing debtors |
| Hire purchase debtors | 335,252 | 1,089,783 |
| Aggregate amounts |
| 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 |
| Amounts due under block discount & hire purchase agreements less than 1 year |
| Trade creditors |
| Taxation |
| Pensions | - | 6 |
| VAT | - | 15,998 |
| Other creditors |
| Other creditors | - | 1,270 |
| Directors' current accounts | 1,112 | - |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Amounts due under block discount & hire purchase agreements 1-2 years |
| 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). |