Motorlease (UK) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04504933 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2017

for

Motorlease (UK) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTOR:

C Walker

SECRETARY:

Mrs J Walker

REGISTERED OFFICE:

16 Redcliff Road

Melton

North Ferriby

North Humberside

HU14 3RS

REGISTERED NUMBER:

04504933 (England and Wales)

ACCOUNTANTS:

cbaSadofskys

Chartered Accountants

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

FIXED ASSETS

Tangible assets

4

4,040

5,938

CURRENT ASSETS

Stocks

63,500

1,800

Debtors

1,351,220

688,419

Cash at bank

85,774

-

1,500,494

690,219

CREDITORS

Amounts falling due within one year

570,170

465,602

NET CURRENT ASSETS

930,324

224,617

TOTAL ASSETS LESS CURRENT
LIABILITIES

934,364

230,555

CREDITORS

Amounts falling due after more than one
year

(23,672

)

(33,479

)

PROVISIONS FOR LIABILITIES

(700,768

)

(1,187

)

NET ASSETS

209,924

195,889

CAPITAL AND RESERVES

Called up share capital

50

Retained earnings

209,874

195,839

SHAREHOLDERS' FUNDS

209,924

195,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 22nd March 2018 and were signed by:

C Walker - Director

1.	STATUTORY INFORMATION

Motorlease (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced commission on the sales of vehicles and related services, excluding value

added tax.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 25% on reducing balance

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 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 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 7 (2016 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2016

and 31st March 2017

19,553

DEPRECIATION

At 1st April 2016

13,615

Charge for year

1,898

At 31st March 2017

15,513

NET BOOK VALUE

At 31st March 2017

4,040

At 31st March 2016

5,938

5.	RELATED PARTY DISCLOSURES

C Walker is a director and 50% shareholder of Chrash Management Services Limited.

The property from which the company operates is owned by Chrash Management Services Limited, and the

company has provided guarantees to Lloyds Bank plc in respect of Chrash Management Services Limited's loan

to purchase that property.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Motorlease (UK) Limited for the year ended 31st March 2017 which comprise the Statement of

Income and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Motorlease (UK) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Motorlease (UK) Limited and state those matters that we have agreed to state to the director of Motorlease (UK) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Motorlease (UK) Limited and its director for our work or for this report.

It is your duty to ensure that Motorlease (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Motorlease (UK) Limited. You consider that Motorlease (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Motorlease (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.