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REGISTERED NUMBER: SC582183 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 March 2025

for

LEASELOCO LTD

LEASELOCO LTD (REGISTERED NUMBER: SC582183)

Contents of the Financial Statements
for the year ended 31 March 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LEASELOCO LTD

Company Information
for the year ended 31 March 2025







Director: J R Wilmot





Registered office: 33-34 Arx Technology Centre
James Watt Avenue
East Kilbride
Glasgow
G75 0QD





Registered number: SC582183 (Scotland)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

LEASELOCO LTD (REGISTERED NUMBER: SC582183)

Balance Sheet
31 March 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 4 10,006 8,709

Current assets
Debtors 5 281,609 84,541
Cash at bank 1,112,249 368,681
1,393,858 453,222
Creditors
Amounts falling due within one year 6 930,436 418,041
Net current assets 463,422 35,181
Total assets less current liabilities 473,428 43,890

Capital and reserves
Called up share capital 7 1,596 1,596
Share premium 2,094,578 2,094,578
Other reserves 157,426 157,426
Retained earnings (1,780,172 ) (2,209,710 )
Shareholders' funds 473,428 43,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 July 2025 and were signed by:




J R Wilmot - Director


LEASELOCO LTD (REGISTERED NUMBER: SC582183)

Notes to the Financial Statements
for the year ended 31 March 2025


1. Statutory information

Leaseloco Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. The directors are therefore of the opinion that they should continue to adopt the going concern basis of accounting in preparing the financial statements

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating share based payments. Share based payments have been made to employees of the company. The fair value of any vested share options is recognised in the income statement. The fair value of share options is estimated using the Black-Scholes model. The fair value of the ordinary shares in issue at the date of granting the options is used as an input to the model.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

LEASELOCO LTD (REGISTERED NUMBER: SC582183)

Notes to the Financial Statements - continued
for the year ended 31 March 2025


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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 statement of financial position date.

Tax credits shown on the income statement represent tax credits received or receivable from HMRC as a result of claims made under HMRC's R&D tax relief schemes.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the statement of financial position. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

3. Employees and directors

The average number of employees during the year was 16 (2024 - 14 ) .

LEASELOCO LTD (REGISTERED NUMBER: SC582183)

Notes to the Financial Statements - continued
for the year ended 31 March 2025


4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 April 2024 8,645 26,267 34,912
Additions 416 8,282 8,698
At 31 March 2025 9,061 34,549 43,610
Depreciation
At 1 April 2024 6,503 19,700 26,203
Charge for year 1,696 5,705 7,401
At 31 March 2025 8,199 25,405 33,604
Net book value
At 31 March 2025 862 9,144 10,006
At 31 March 2024 2,142 6,567 8,709

5. Debtors: amounts falling due within one year
2025 2024
£ £
Trade debtors 96,025 47,322
Other debtors 185,584 37,219
281,609 84,541

6. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 351,181 44,632
Taxation and social security 338,883 231,048
Other creditors 240,372 142,361
930,436 418,041

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £ £
159,553 Ordinary £0.01 1,596 1,596

LEASELOCO LTD (REGISTERED NUMBER: SC582183)

Notes to the Financial Statements - continued
for the year ended 31 March 2025


8. Related party disclosures

During the year the company advanced loans to the director of £121,521. At the date of the financial statements the director owed the company £137,936 (2024: £13,380). The loan is charged at an interest rate of 2.25% and is repayable on demand.

9. Share-based payment transactions

The company operates an EMI qualifying share option scheme and the company has granted 5,087 (2024:5,087) EMI qualifying share options upto the date of the statement of financial position to employees at an average weighted exercise price of £9.918 (2024: £9.918) per share. 5,087 (2024:5,087) share options vested at the date of the statement of financial position, no share options lapsed and no options were exercised. An amount of £nil (2024:£157,426) has been charged to the income statement in respect of the EMI qualifying share options.