Translease Services Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05565589 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

TRANSLEASE SERVICES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T J Scott

SECRETARY:

Mrs L J Scott

REGISTERED OFFICE:

4 Tannery House

Tannery Lane

Send

Woking

Surrey

GU23 7EF

REGISTERED NUMBER:

05565589 (England and Wales)

ACCOUNTANTS:

John A Hyde & Co

Lyndale House

24A High Street

Addlestone

Surrey

KT15 1TN

FIXED ASSETS

Tangible assets

4

6,986,376

7,672,681

CURRENT ASSETS

Debtors

3,234,718

1,707,543

Cash at bank and in hand

1,300,296

1,032,296

4,535,014

2,739,839

CREDITORS

Amounts falling due within one year

2,407,363

2,983,200

NET CURRENT ASSETS/(LIABILITIES)

2,127,651

(243,361

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,114,027

7,429,320

CREDITORS

Amounts falling due after more than one year

5

(6,214,358

)

(4,870,804

)

PROVISIONS FOR LIABILITIES

7

(24,637

)

-

NET ASSETS

2,875,032

2,558,516

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

2,865,032

2,548,516

SHAREHOLDERS' FUNDS

2,875,032

2,558,516

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2023 and were signed by:

T J Scott - Director

1.	STATUTORY INFORMATION

Translease Services 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 Company 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Interest is charged to the profit and loss account using the sum of digits method.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company'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 5 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2022

14,404,536

Additions

2,477,768

Disposals

(3,224,923

)

At 30 September 2023

13,657,381

DEPRECIATION

At 1 October 2022

6,731,855

Charge for year

1,622,492

Eliminated on disposal

(1,683,342

)

At 30 September 2023

6,671,005

NET BOOK VALUE

At 30 September 2023

6,986,376

At 30 September 2022

7,672,681

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 October 2022

11,699,013

Additions

2,180,607

Disposals

(2,376,419

)

Transfer to ownership

(1,105,350

)

At 30 September 2023

10,397,851

DEPRECIATION

At 1 October 2022

5,322,611

Charge for year

1,283,840

Eliminated on disposal

(1,121,781

)

Transfer to ownership

(717,544

)

At 30 September 2023

4,767,126

NET BOOK VALUE

At 30 September 2023

5,630,725

At 30 September 2022

6,376,402

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.9.23

30.9.22

£

£

Repayable by instalments

Hire purchase

18,581

43,347

6.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.9.23

30.9.22

£

£

Gross obligations repayable:

Within one year

2,651,457

2,746,327

Between one and five years

6,736,523

5,108,708

In more than five years

18,978

44,875

9,406,958

7,899,910

Finance charges repayable:

Within one year

414,632

233,615

Between one and five years

540,746

281,251

In more than five years

397

1,528

955,775

516,394

Net obligations repayable:

Within one year

2,236,825

2,512,712

Between one and five years

6,195,777

4,827,457

In more than five years

18,581

43,347

8,451,183

7,383,516

7.	PROVISIONS FOR LIABILITIES

30.9.23

30.9.22

£

£

Deferred tax

24,637

-

Deferred

tax

£

Accelerated capital allowances

24,637

Balance at 30 September 2023

24,637