MICROSCAPE LEASECO LIMITED


Director	SANSBURY, Paul


Registered Address	20 East Drive
	Brighton
	BN2 0BQ


Registered Number	14025982 (England and Wales)

Balance Sheet as at
31 May 2024

	Notes	31 May 2024		30 Nov 2022
		£	£	£	£
Fixed assets
Investments	3		3,155,000		-
			3,155,000		-
Current assets
Debtors		2,289,032		1
Cash at bank and on hand		21,091		-
		2,310,123		1
Creditors amounts falling due within one year		(2,462)		-
Net current assets (liabilities)			2,307,661		1
Total assets less current liabilities			5,462,661		1
Creditors amounts falling due after one year			(5,676,148)		-
Net assets			(213,487)		1
Capital and reserves
Called up share capital			1		1
Profit and loss account			(213,488)		-
Shareholders' funds			(213,487)		1

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 21 October 2025, and are signed on its behalf by:

SANSBURY, Paul
Director
Registered Company No. 14025982

MICROSCAPE LEASECO LIMITED

Notes to the Financial Statements
for the period ended 31 May 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	These financial statements have been prepared in accordance with the provisions of Section 1A of FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland, and in accordance with the Companies Act 2006 applicable to small entities. The financial statements are prepared under the historical cost convention, as modified by the revaluation of investment property to fair value.

Basis of preparation

These financial statements have been prepared in accordance with the provisions of Section 1A of FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland, and in accordance with the Companies Act 2006 applicable to small entities.
The financial statements are prepared under the historical cost convention, as modified by the revaluation of investment property to fair value.

	Turnover policy
	Turnover represents rental income receivable from investment properties during the year, excluding VAT, and is recognised on a straight-line basis over the lease term.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is provided on all timing differences that have originated but not reversed at the balance sheet date, including differences arising from the revaluation of investment property. Deferred tax is calculated at the tax rates expected to apply when the timing differences reverse (currently 25%).

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

	Investments
	Investment properties are initially recorded at cost and subsequently measured at fair value at each reporting date. Changes in fair value are recognised in the profit and loss account in the period in which they arise. No depreciation is charged on investment properties. Where the fair value cannot be determined reliably without undue cost or effort, the property is measured at cost less accumulated depreciation and impairment losses.

Investments

Investment properties are initially recorded at cost and subsequently measured at fair value at each reporting date.
Changes in fair value are recognised in the profit and loss account in the period in which they arise.
No depreciation is charged on investment properties.
Where the fair value cannot be determined reliably without undue cost or effort, the property is measured at cost less accumulated depreciation and impairment losses.

	Financial instruments
	Basic financial instruments, including debtors, creditors, and inter-company loans, are initially recognised at transaction price and subsequently measured at amortised cost.

	Related parties
	Transactions with related parties are disclosed where material. Balances are shown at year-end at transaction value.

2.	Average number of employees


		2024		2022
	Average number of employees during the year	0		0

3.	Fixed asset investments

		Total
		£
	Cost or valuation
	Additions	3,645,000
	Disposals	(490,000)
	At 31 May 24	3,155,000
	Net book value
	At 31 May 24	3,155,000
	At 30 November 22	-

4.	Revaluation of fixed asset investments
	The company acquired its investment properties during the financial year. The properties are measured at fair value in accordance with FRS 102 Section 16. As the acquisitions took place close to the year-end, management consider the fair value at 31 May 2024 to approximate to cost, and no separate revaluation has been undertaken. Consequently, no fair-value gain or loss has been recognised in the profit and loss account for the year. The fair value of the company’s investment property at 31 May 24 was £Nil (2022 – £Nil). The increase of £Nil represents the movement in market value during the year and has been recognised in profit or loss.

Revaluation of fixed asset investments

The company acquired its investment properties during the financial year.
The properties are measured at fair value in accordance with FRS 102 Section 16.
As the acquisitions took place close to the year-end, management consider the fair value at 31 May 2024 to approximate to cost, and no separate revaluation has been undertaken.
Consequently, no fair-value gain or loss has been recognised in the profit and loss account for the year.

The fair value of the company’s investment property at 31 May 24 was £Nil (2022 – £Nil).
The increase of £Nil represents the movement in market value during the year and has been recognised in profit or loss.

5.	Related party transactions
	The company has entered into transactions with related undertakings under common control: At 31 May 2024, the company was owed £2,285,956 (2022 – £1) by Microscape Property Ltd. This amount is included within other debtors and represents intercompany funding. At 31 May 2024, the company owed £3,687,773 (2022 – £Nil) to Microscape Holdco Ltd. This amount is included within other creditors and represents intercompany funding. Both balances are unsecured, interest-free, and repayable on demand. No provisions for impairment have been recognised in respect of these balances. All companies are under the common control of the director, Paul Sansbury.

Related party transactions

The company has entered into transactions with related undertakings under common control:
At 31 May 2024, the company was owed £2,285,956 (2022 – £1) by Microscape Property Ltd.
This amount is included within other debtors and represents intercompany funding.
At 31 May 2024, the company owed £3,687,773 (2022 – £Nil) to Microscape Holdco Ltd.
This amount is included within other creditors and represents intercompany funding.
Both balances are unsecured, interest-free, and repayable on demand.
No provisions for impairment have been recognised in respect of these balances.
All companies are under the common control of the director, Paul Sansbury.