Registration number: 08155970

Place2Lease Ltd

(Registration number: 08155970)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	4	4,500,000	4,500,000
Other financial assets	5	142,054	140,173
		4,642,054	4,640,173
Current assets
Debtors	6	1,678,404	1,757,823
Cash at bank and in hand		85	1,954
		1,678,489	1,759,777
Creditors: Amounts falling due within one year	7	(1,580,915)	(1,579,933)
Net current assets		97,574	179,844
Total assets less current liabilities		4,739,628	4,820,017
Creditors: Amounts falling due after more than one year	7	(2,936,271)	(2,858,104)
Provisions for liabilities		(435,243)	(434,773)
Net assets		1,368,114	1,527,140
Capital and reserves
Called up share capital	8	1	1
Other reserves		1,305,728	1,290,130
Retained earnings		62,385	237,009
Shareholders' funds		1,368,114	1,527,140

Place2Lease Ltd

(Registration number: 08155970)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 December 2025
 

Mr C C E Jackson Director

Place2Lease Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registration number: 08155970

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Place2Lease Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Listed investments are measured at fair value. Fair value gains and losses are recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Place2Lease Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2024 - 1).

4	Investment properties

	2025 £
At 1 April	4,500,000
At 31 March	4,500,000

The value of the investment properties is reviewed annually by the director.

There has been no valuation of investment properties by an independent valuer.

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2024	140,173	140,173
Fair value adjustments	1,881	1,881
At 31 March 2025	142,054	142,054
Carrying amount
At 31 March 2025	142,054	142,054
At 31 March 2024	140,173	140,173

Place2Lease Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

	2025 £	2024 £
Other debtors	1,678,404	1,757,823

Place2Lease Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	7,102	7,102
Trade payables		51,623	40,792
Amounts due to related parties		1,511,846	1,511,846
Social security and other taxes		-	9,849
Other payables		10,344	10,344
		1,580,915	1,579,933