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Company Registration No. 12366109 (England and Wales)
Wight Lease Limited Unaudited accounts for the year ended 31 December 2024
Wight Lease Limited Unaudited accounts Contents
Page
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Wight Lease Limited Company Information for the year ended 31 December 2024
Directors
Nancy Thorley Paul Thorley
Company Number
12366109 (England and Wales)
Registered Office
Office 1 Building 41, Newport Road Cowes Isle of Wight PO31 8BX UK
Accountants
Vision Accounting Fortis House Cothey Way Ryde Isle of Wight PO33 1QT
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Wight Lease Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
150 
175 
Tangible assets
1,215 
1,537 
1,365 
1,712 
Current assets
Debtors
15,383 
30,810 
Cash at bank and in hand
1,535 
22,740 
16,918 
53,550 
Creditors: amounts falling due within one year
(98,479)
(90,735)
Net current liabilities
(81,561)
(37,185)
Total assets less current liabilities
(80,196)
(35,473)
Creditors: amounts falling due after more than one year
(12,176)
(19,840)
Net liabilities
(92,372)
(55,313)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(92,374)
(55,315)
Shareholders' funds
(92,372)
(55,313)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2025 and were signed on its behalf by
Nancy Thorley Director Company Registration No. 12366109
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Wight Lease Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Wight Lease Limited is a private company, limited by shares, registered in England and Wales, registration number 12366109. The registered office is Office 1 Building 41, Newport Road, Cowes, Isle of Wight, PO31 8BX, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% Straight Line
Fixtures & fittings
33% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2024
250 
At 31 December 2024
250 
Amortisation
At 1 January 2024
75 
Charge for the year
25 
At 31 December 2024
100 
Net book value
At 31 December 2024
150 
At 31 December 2023
175 
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Wight Lease Limited Notes to the Accounts for the year ended 31 December 2024
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2024
5,467 
1,115 
6,582 
Additions
- 
737 
737 
Disposals
(1,705)
- 
(1,705)
At 31 December 2024
3,762 
1,852 
5,614 
Depreciation
At 1 January 2024
4,141 
904 
5,045 
Charge for the year
818 
227 
1,045 
On disposals
(1,691)
- 
(1,691)
At 31 December 2024
3,268 
1,131 
4,399 
Net book value
At 31 December 2024
494 
721 
1,215 
At 31 December 2023
1,326 
211 
1,537 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
6,383 
18,573 
Amounts due from group undertakings etc.
9,000 
9,230 
Accrued income and prepayments
- 
145 
Other debtors
- 
2,862 
15,383 
30,810 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
1,398 
8,327 
VAT
30,047 
21,657 
Trade creditors
11,055 
20,011 
Taxes and social security
5,649 
6,545 
Other creditors
29,232 
22 
Loans from directors
20,248 
34,123 
Accruals
850 
50 
98,479 
90,735 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
9,968 
19,840 
Other creditors
2,208 
- 
12,176 
19,840 
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Wight Lease Limited Notes to the Accounts for the year ended 31 December 2024
9
Average number of employees
During the year the average number of employees was 3 (2023: 4).
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