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REGISTERED NUMBER: NI667220 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

LEE & J LTD

LEE & J LTD (REGISTERED NUMBER: NI667220)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


LEE & J LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: B Maginn





REGISTERED OFFICE: 9-11 Main Street
Castlewellan
United Kingdom
Co. Down
BT31 9DF





REGISTERED NUMBER: NI667220 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

LEE & J LTD (REGISTERED NUMBER: NI667220)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 80,000 80,000
Tangible assets 5 14,260 15,948
94,260 95,948

CURRENT ASSETS
Stocks 29,347 20,000
Debtors 6 10,936 2,225
Cash at bank and in hand 67,596 55,380
107,879 77,605
CREDITORS
Amounts falling due within one year 7 159,852 90,913
NET CURRENT LIABILITIES (51,973 ) (13,308 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,287

82,640

PROVISIONS FOR LIABILITIES 6,387 6,387
NET ASSETS 35,900 76,253

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 35,800 76,153
35,900 76,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

LEE & J LTD (REGISTERED NUMBER: NI667220)

BALANCE SHEET - continued
31 JANUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2023 and were signed by:





B Maginn - Director


LEE & J LTD (REGISTERED NUMBER: NI667220)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Lee & J Ltd is a private company, limited by shares , registered in Northern Ireland. 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 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.

Going concern
The financial statements have been prepared on a going concern basis. The director has assessed the future plans and is confident that the company will continue for at least 12 months from the date of approval of the financial statements.

Significant judgements and estimates
In preparing these financial statements the directors have not had to make any significant judgements or estimates.

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
Depreciaiton is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures & Fittings - 20% Straight-line

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

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

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.


LEE & J LTD (REGISTERED NUMBER: NI667220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued
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.

Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable and payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

Cash and cash equivalents
Cash and cash equivalents comprise of cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 February 2022
and 31 January 2023 80,000
NET BOOK VALUE
At 31 January 2023 80,000
At 31 January 2022 80,000

LEE & J LTD (REGISTERED NUMBER: NI667220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipmen
£   
COST
At 1 February 2022 22,340
Additions 3,475
At 31 January 2023 25,815
DEPRECIATION
At 1 February 2022 6,392
Charge for year 5,163
At 31 January 2023 11,555
NET BOOK VALUE
At 31 January 2023 14,260
At 31 January 2022 15,948

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Directors' current accounts 281 -
Tax 8,905 -
Prepayments 1,750 2,225
10,936 2,225

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 59,979 17,855
Tax 15,318 15,849
Social security and other taxes (2,917 ) 1,670
VAT 23,994 140
Other creditors 41,496 41,496
Directors' current accounts - 6,720
Accrued expenses 21,982 7,183
159,852 90,913

8. CONTINGENT LIABILITIES

A contingent liability may exist in respect of a repayment of grant income to HM Revenue and Customs should the conditions under which a grant was awarded to the company not be met. Due to the nature of these contingencies, it is not currently possible to estimate the likelihood of this occurring, nor quantify the financial effect or provide an indication of timing as to the potential liability that may arise.