REGISTERED NUMBER: 02552769 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

LEASEMETHOD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G T R Horwitch-Smith

O E Horwitch-Smith

R J Mottram

SECRETARY:

D R R Prentis

REGISTERED OFFICE:

107 Selly Park Road

Selly Park

Birmingham

B29 7HY

REGISTERED NUMBER:

02552769 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

16 Davy Court

Castle Mound Way

Rugby, CV23 0UZ

Magma Audit LLP is part

Of the Dains Group

FIXED ASSETS

Tangible assets

4

729

-

Investments

5

199

37,775

928

37,775

CURRENT ASSETS

Stocks

4,155,000

4,155,000

Debtors

6

1,286,810

1,250,772

Cash at bank

786,553

1,008,010

6,228,363

6,413,782

CREDITORS

Amounts falling due within one year

7

(50,445

)

(70,823

)

NET CURRENT ASSETS

6,177,918

6,342,959

TOTAL ASSETS LESS CURRENT LIABILITIES

6,178,846

6,380,734

CREDITORS

Amounts falling due after more than one year

8

(2,803,853

)

(2,557,600

)

PROVISIONS FOR LIABILITIES

(378,572

)

(337,279

)

NET ASSETS

2,996,421

3,485,855

CAPITAL AND RESERVES

Called up share capital

91,586

91,586

Share premium

2,898,895

2,898,895

Capital redemption reserve

95,155

95,155

Retained earnings

(89,215

)

400,219

2,996,421

3,485,855

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 directors acknowledge their 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 Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

O E Horwitch-Smith - Director

1.	STATUTORY INFORMATION

Leasemethod Limited is a limited company, limited by shares, registered in England and Wales. The Company's registered office address is 107 Selly Park Road, Selly Park, Birmingham, England, B29 7HY and the registered number is 02552769.

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 as modified by the revaluation of certain fixed assets.

The presentational currency of the financial statements is pound sterling (£) and figures are rounded to the nearest £1.

Preparation of consolidated financial statements

The financial statements contain information about Leasemethod Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue includes rental income receivable from tenants, some of who are other group companies,exclusive of Value Added Tax. These are recognised as the rents fall due.

Revenue includes amounts receivable from sales of properties. These are recognised on unconditional exchange of contracts.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Computer equipment

-33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the income statement.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Dividends on share capital treated as debt are shown as part of the finance cost of the business in the income statement.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

969

At 31 March 2025

969

DEPRECIATION

Charge for year

240

At 31 March 2025

240

NET BOOK VALUE

At 31 March 2025

729

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

37,775

Impairments

(37,576

)

At 31 March 2025

199

NET BOOK VALUE

At 31 March 2025

199

At 31 March 2024

37,775

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

19,173

-

Amounts owed by group undertakings

1,261,001

1,241,479

Other debtors

6,636

9,293

1,286,810

1,250,772

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

25,285

52,968

Amounts owed to group undertakings

-

3,827

Other creditors

25,160

14,028

50,445

70,823

The bank loans are secured via a fixed and floating charge over the assets of the company.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,725,091

2,478,838

Other creditors

78,762

78,762

2,803,853

2,557,600

The bank loans are secured via a fixed and floating charge over the assets of the company.

9.	RELATED PARTY DISCLOSURES

T Horwitch-Smith was a director and a shareholder of the company and died in November 2013.

The beneficiaries of the estate of the late T Horwitch-Smith are G Horwitch-Smith, O Horwitch-Smith and their related families.

Included in other creditors is £4,563 (2024: £8,159) payable to the estate of the late T Horwitch-Smith.

The amounts owed by Latham Services Limited at the year end were £1,190,517 (2024 £1,239,117).

The amounts owed by Leasemethod Management Limited at the year end were £68,122 (2024: £3,827 owed to).

The amounts owed by LMM Consulting Limited at the year end were £2,362 (2024: £2,362).