Company registration number SC445572 (Scotland)
INTELLIGENT CAR LEASING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
INTELLIGENT CAR LEASING LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2
Notes to the financial statements
3 - 7
INTELLIGENT CAR LEASING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

Intelligent Car Leasing (ICL) is a leading provider of vehicle leasing to personal and small business customers throughout the UK. We connect customers with a finance provider to get them a competitive lease for their vehicle, offered through an end-to-end digital leasing experience across all makes and models of cars and vans to suit their monthly budgets.

 

The company is part of the multi-award winning Fleet Alliance business, which combined with ICL manage a vehicle fleet in excess of 30,000 vehicles with a market value of more than £1 billion.

 

The service provided is supported by a team of dedicated leasing specialists who ensure that customers receive bespoke and personalised solutions to their individual vehicle needs.

Results and dividends

The trade and assets of the company were hived up to Fleet Alliance Limited, the parent company, at the year end.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

M Brown
A Robertson
A Bruce
N McMinn
(Resigned 12 December 2024)
Auditor

Azets Audit Services were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.

On behalf of the board
A Robertson
Director
30 May 2025
INTELLIGENT CAR LEASING LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
83,503
Tangible assets
4
-
0
91
-
0
83,594
Current assets
Debtors
5
-
0
220,388
Cash at bank and in hand
212,820
127,973
212,820
348,361
Creditors: amounts falling due within one year
6
(212,720)
(84,027)
Net current assets
100
264,334
Total assets less current liabilities
100
347,928
Provisions for liabilities
7
-
0
(18,783)
Net assets
100
329,145
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
-
0
329,045
Total equity
100
329,145

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 May 2025 and are signed on its behalf by:
A Robertson
Director
Company Registration No. SC445572
INTELLIGENT CAR LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Intelligent Car Leasing Limited is a private company limited by shares incorporated in Scotland. The registered office is Skypark 1, Unit 9/1, 8 Elliot Place, Glasgow, United Kingdom, G3 8EP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements of the company are consolidated in the financial statements of Fleet Alliance Limited.

1.2
Going concern

Atruet the time of approving the financial statements, the hive up of assets to the parent company has completed and the directors intend to wind the company up. Therefore, the directors do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements and thus have prepared the financial statements on a basis other than going concern.

1.3
Turnover

Turnover represents the value of services provided, excluding value added tax.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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

Development costs
10 years
1.5
Tangible fixed assets

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

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

Fixtures and fittings
33% on cost and 25% on reducing balance
Computers
33% on cost
1.6
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).

INTELLIGENT CAR LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the 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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
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 cost of stock or fixed assets.

1.10
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.

1.11
Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
16
12
INTELLIGENT CAR LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Intangible fixed assets
Development costs
£
Cost
At 1 January 2024
132,388
Additions - internally developed
24,718
Transfers
(157,106)
At 31 December 2024
-
0
Amortisation and impairment
At 1 January 2024
48,885
Amortisation charged for the year
108,221
Transfers
(157,106)
At 31 December 2024
-
0
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
83,503
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 January 2024
13,181
2,469
15,650
Transfers
(13,181)
(2,469)
(15,650)
At 31 December 2024
-
0
-
0
-
0
Depreciation and impairment
At 1 January 2024
13,090
2,469
15,559
Depreciation charged in the year
91
-
0
91
Transfers
(13,181)
(2,469)
(15,650)
At 31 December 2024
-
0
-
0
-
0
Carrying amount
At 31 December 2024
-
0
-
0
-
0
At 31 December 2023
91
-
0
91
INTELLIGENT CAR LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
41,337
Amounts owed by group undertakings
-
0
158,534
Other debtors
-
0
20,517
-
0
220,388
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
13,187
Amounts owed to group undertakings
212,720
-
0
Taxation and social security
-
0
19,051
Other creditors
-
0
51,789
212,720
84,027
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
-
18,783
2024
Movements in the year:
£
Liability at 1 January 2024
18,783
Credit to profit or loss
(18,783)
Liability at 31 December 2024
-

 

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
INTELLIGENT CAR LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter

We draw attention to Note 1.2  to the financial statements which explains that following the hive up of the assets to the parent company that the directors now intend to wind the company up and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 1.2. Our opinion is not modified in respect of this matter.

Senior Statutory Auditor:
James McBride
Statutory Auditor:
Azets Audit Services
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
-
0
17,325
11
Hive up

At the year end the trade and assets of the company were hived up to the parent company Fleet Alliance Limited via a dividend. The company no longer trades and the directors plan to wind the company up following the settlment of the remaining intergroup creditor balance using the cash reserves.

12
Parent company

The company is under the control of its ultimate parent company, Fleet Alliance Limited, a company registered in the UK.

13
Ultimate controlling party

The company's ultimate controlling parties are A Flynn and M Flynn.

2024-12-312024-01-01falsefalsefalse30 May 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityM BrownA RobertsonA BruceN McMinnSC4455722024-01-012024-12-31SC445572bus:Director12024-01-012024-12-31SC445572bus:Director22024-01-012024-12-31SC445572bus:Director32024-01-012024-12-31SC445572bus:Director42024-01-012024-12-31SC4455722024-12-31SC4455722023-12-31SC445572core:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-12-31SC445572core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-31SC445572core:FurnitureFittings2024-12-31SC445572core:ComputerEquipment2024-12-31SC445572core:FurnitureFittings2023-12-31SC445572core:ComputerEquipment2023-12-31SC445572core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-31SC445572core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-31SC445572core:CurrentFinancialInstruments2024-12-31SC445572core:CurrentFinancialInstruments2023-12-31SC445572core:ShareCapital2024-12-31SC445572core:ShareCapital2023-12-31SC445572core:RetainedEarningsAccumulatedLosses2024-12-31SC445572core:RetainedEarningsAccumulatedLosses2023-12-31SC445572core:ShareCapitalOrdinaryShareClass12024-12-31SC445572core:ShareCapitalOrdinaryShareClass12023-12-31SC445572core:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-31SC445572core:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-01-012024-12-31SC445572core:FurnitureFittings2024-01-012024-12-31SC445572core:ComputerEquipment2024-01-012024-12-31SC4455722023-01-012023-12-31SC445572core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-31SC445572core:DevelopmentCostsCapitalisedDevelopmentExpenditurecore:InternallyGeneratedIntangibleAssets2024-01-012024-12-31SC445572core:FurnitureFittings2023-12-31SC445572core:ComputerEquipment2023-12-31SC4455722023-12-31SC445572core:WithinOneYear2024-12-31SC445572core:WithinOneYear2023-12-31SC445572bus:OrdinaryShareClass12024-01-012024-12-31SC445572bus:OrdinaryShareClass12024-12-31SC445572bus:OrdinaryShareClass12023-12-31SC445572bus:PrivateLimitedCompanyLtd2024-01-012024-12-31SC445572bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-31SC445572bus:FRS1022024-01-012024-12-31SC445572bus:Audited2024-01-012024-12-31SC445572bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP