Lyca Leasing Holding Limited - Limited company accounts 25.1

REGISTERED NUMBER: 09147067 (England and Wales)

LYCA LEASING HOLDING LIMITED

REPORT OF THE DIRECTOR AND

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

Page

Company Information

1

Report of the Director

2

Consolidated Income Statement

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Notes to the Consolidated Financial Statements

8

DIRECTOR:

A S Premananthan

REGISTERED OFFICE:

3rd Floor Walbrook Building

195 Marsh Wall

London

E14 9SG

REGISTERED NUMBER:

09147067 (England and Wales)

REVIEW OF BUSINESS

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006.

They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In accordance with Section 172 of the Companies Act 2006, the directors have considered the interests of employees in key business decisions and maintained regular engagement through staff surveys, team briefings, and open forums.

Feedback gathered has informed improvements in workplace policies, wellbeing initiatives, and development

programmes. These actions have supported employee satisfaction and contributed to the long-term success of the company.

DIRECTOR

A S Premananthan held office during the whole of the period from 1 May 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

A S Premananthan - Director

8 December 2025

TURNOVER

59,005,102

51,736,040

Cost of sales

34,004,354

29,167,218

GROSS PROFIT

25,000,748

22,568,822

Administrative expenses

35,946,138

180,147,947

(10,945,390

)

(157,579,125

)

Other operating income

3,076,731

2,528,229

OPERATING LOSS

4

(7,868,659

)

(155,050,896

)

Interest receivable and similar income

3,911,294

3,403,199

(3,957,365

)

(151,647,697

)

Gain/loss on revaluation of investments

-

(11,552,394

)

(3,957,365

)

(163,200,091

)

Interest payable and similar expenses

5,925,654

4,609,523

LOSS BEFORE TAXATION

(9,883,019

)

(167,809,614

)

Tax on loss

-

LOSS FOR THE FINANCIAL YEAR

(9,883,019

)

(167,809,614

)

Loss attributable to:

Owners of the parent

(9,883,019

)

(167,809,614

)

FIXED ASSETS

Intangible assets

6

27,181

43,664

Tangible assets

7

9,653,134

9,025,896

Investments

8

3,428,275

3,328,275

Investment property

9

63,057,606

76,166,196

75,455,441

CURRENT ASSETS

Stocks

1,050,457

1,022,487

Debtors

10

49,436,262

136,561,344

Cash at bank and in hand

8,676,812

8,510,300

59,163,531

146,094,131

CREDITORS

Amounts falling due within one year

11

183,303,701

257,552,243

NET CURRENT LIABILITIES

(124,140,170

)

(111,458,112

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(47,973,974

)

(36,002,671

)

CREDITORS

Amounts falling due after more than one
year

12

1,312,162

1,184,740

NET LIABILITIES

(49,286,136

)

(37,187,411

)

CAPITAL AND RESERVES

Called up share capital

13

46,629,092

Share premium

140,073,835

Other reserves

54,283,357

56,499,063

Retained earnings

(290,272,420

)

(280,389,401

)

SHAREHOLDERS' FUNDS

(49,286,136

)

(37,187,411

)

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

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

The financial statements were approved by the director and authorised for issue on 8 December 2025 and were signed by:

A S Premananthan - Director

FIXED ASSETS

Intangible assets

6

-

Tangible assets

7

6,296,832

5,986,812

Investments

8

222,000

122,000

Investment property

9

-

6,518,832

6,108,812

CURRENT ASSETS

Debtors

10

41,620,500

35,623,761

Cash at bank

29,964

38,046

41,650,464

35,661,807

CREDITORS

Amounts falling due within one year

11

67,434,358

59,403,616

NET CURRENT LIABILITIES

(25,783,894

)

(23,741,809

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,265,062

)

(17,632,997

)

CAPITAL AND RESERVES

Called up share capital

13

100

Retained earnings

(19,265,162

)

(17,633,097

)

SHAREHOLDERS' FUNDS

(19,265,062

)

(17,632,997

)

Company's loss for the financial year

(1,632,066

)

(1,730,319

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 8 December 2025 and were signed by:

A S Premananthan - Director

1.	STATUTORY INFORMATION

Lyca Leasing Holding Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 612 (2023 - NIL ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 612 (2023 - 549 ) .

4.	OPERATING LOSS

The operating loss is stated after charging:

2024

2023

£

Depreciation - owned assets

2,126,729

1,354,749

Computer software amortisation

16,483

35,788

5.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

6.	INTANGIBLE FIXED ASSETS

Group

Other

intangible

Goodwill

assets

Totals

£

COST

At 1 May 2023

and 30 April 2024

188,862

1,827,174

2,016,036

AMORTISATION

At 1 May 2023

188,862

1,783,510

1,972,372

Charge for year

-

16,483

At 30 April 2024

188,862

1,799,993

1,988,855

NET BOOK VALUE

At 30 April 2024

-

27,181

At 30 April 2023

-

43,664

7.	TANGIBLE FIXED ASSETS

Group

Plant and

machinery

etc

£

COST

At 1 May 2023

33,788,450

Additions

2,754,247

Disposals

(280

)

At 30 April 2024

36,542,417

DEPRECIATION

At 1 May 2023

24,762,554

Charge for year

2,126,729

At 30 April 2024

26,889,283

NET BOOK VALUE

At 30 April 2024

9,653,134

At 30 April 2023

9,025,896

Company

Plant and

machinery

etc

£

COST

At 1 May 2023

11,666,336

Additions

1,123,480

At 30 April 2024

12,789,816

DEPRECIATION

At 1 May 2023

5,679,524

Charge for year

813,460

At 30 April 2024

6,492,984

NET BOOK VALUE

At 30 April 2024

6,296,832

At 30 April 2023

5,986,812

8.	FIXED ASSET INVESTMENTS

Group

Company

2024

2023

2024

2023

£

Shares in group undertakings

222,000

122,000

222,000

122,000

Other investments not loans

3,206,275

-

3,428,275

3,328,275

222,000

122,000

Additional information is as follows:

Group

Shares in

group

undertakings

£

COST

At 1 May 2023

122,000

Additions

100,000

At 30 April 2024

222,000

NET BOOK VALUE

At 30 April 2024

222,000

At 30 April 2023

122,000

Investments (neither listed nor unlisted) were as follows:

2024

2023

£

Investments

3,206,275

Company

Shares in

group

undertakings

£

COST

At 1 May 2023

122,000

Additions

100,000

At 30 April 2024

222,000

NET BOOK VALUE

At 30 April 2024

222,000

At 30 April 2023

122,000

9.	INVESTMENT PROPERTY

Group

Total

£

FAIR VALUE

At 1 May 2023

and 30 April 2024

63,057,606

NET BOOK VALUE

At 30 April 2024

63,057,606

At 30 April 2023

63,057,606

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2024

2023

2024

2023

£

Trade debtors

6,616,043

4,507,065

741,845

2,215,709

Amounts owed by group undertakings

22,005,234

117,592,445

21,988,614

21,972,015

Other debtors

20,814,985

14,461,834

18,890,041

11,436,037

49,436,262

136,561,344

41,620,500

35,623,761

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2024

2023

2024

2023

£

Finance leases

1,000,726

556,973

485,894

-

Trade creditors

8,706,720

9,416,793

299,984

516,025

Amounts owed to group undertakings

168,197,723

239,805,714

66,455,690

58,856,481

Taxation and social security

802,159

588,231

14,453

-

Other creditors

4,596,373

7,184,532

178,337

31,110

183,303,701

257,552,243

67,434,358

59,403,616

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group

2024

2023

£

Finance leases

1,312,162

1,184,740

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

46,602,108

A

46602108

46,602,108

27

B

27

4,616

C

4616

4,616

46,606,751

14.	RELATED PARTY DISCLOSURES

Amount due from related party at balance sheet date

Lyca leasing Holding Limited is regarded by the director as being the company's ultimate parent company.

15.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs Prematharshini Subaskaran.

The ultimate controlling party is Mrs Prematharshini Subaskaran.