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Registration number: 05855268

Lee Evans Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Lee Evans Limited

Contents

Directors' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

Detailed Profit and Loss Account

9 to 10

 

Lee Evans Limited

Directors' Report for the Year Ended 30 June 2023

The directors present their report and the financial statements for the year ended 30 June 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Lee Mark Evans

Mrs Wendi Louise Evans

Principal activity

The principal activity of the company is general builder

Small companies provision statement

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

Approved and authorised by the Board on 25 October 2023 and signed on its behalf by:
 

.........................................
Mr Lee Mark Evans
Director

 

Lee Evans Limited

(Registration number: 05855268)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,922

3,897

Current assets

 

Debtors

6

4,334

1,579

Cash at bank and in hand

 

-

514

 

4,334

2,093

Creditors: Amounts falling due within one year

7

(7,104)

(5,819)

Net current liabilities

 

(2,770)

(3,726)

Net assets

 

152

171

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

52

71

Shareholders' funds

 

152

171

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 25 October 2023 and signed on its behalf by:
 

.........................................
Mr Lee Mark Evans
Director

 

Lee Evans Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
2 Drake House
Cook Way
Taunton
Somerset
TA2 6BJ
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Lee Evans Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Lee Evans Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

975

1,299

 

Lee Evans Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

544

14,000

3,965

18,509

At 30 June 2023

544

14,000

3,965

18,509

Depreciation

At 1 July 2022

372

10,763

3,477

14,612

Charge for the year

43

810

122

975

At 30 June 2023

415

11,573

3,599

15,587

Carrying amount

At 30 June 2023

129

2,427

366

2,922

At 30 June 2022

172

3,237

488

3,897

6

Debtors

Current

2023
£

2022
£

Other debtors

4,334

1,579

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

713

1,233

Trade creditors

 

2,693

1,826

Taxation and social security

 

965

1,273

Other creditors

 

2,733

1,487

 

7,104

5,819

Creditors: amounts falling due after more than one year

 

Lee Evans Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2023
£

2022
£

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

713

-

Hire purchase contracts

-

1,233

713

1,233

10

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £46.00 (2022 - £73.00) per each Ordinary

 

4,600

 

7,300

         

11

Related party transactions

 

Lee Evans Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

13,864

18,135

 

Lee Evans Limited

Detailed Profit and Loss Account for the Year Ended 30 June 2023

2023
 £

2022
 £

Turnover

Sale of goods, UK

66,800

88,426

Grants and subsidies

-

1,033

66,800

89,459

Cost of sales

Purchases

36,006

56,905

Consumable tools

90

84

Hire of plant and machinery (Spot hire)

1,490

430

37,586

57,419

Employment costs

Directors remuneration

(13,864)

(18,135)

Directors NIC (Employers)

(549)

(747)

Casual wages

(210)

-

(14,623)

(18,882)

General administrative expenses

Protective Clothing

-

(45)

Insurance

(271)

(1,310)

Mobile

(1,090)

(947)

Computer software and maintenance costs

(67)

(146)

Printing, postage and stationery

(71)

(134)

Motor expenses

(1,928)

(2,534)

Payroll

(304)

(480)

Bookkeeping

(950)

(720)

Accountancy fees

(700)

(700)

Legal and professional fees

(600)

(300)

(5,981)

(7,316)

Finance charges

Bank charges

(283)

(524)

Depreciation costs

Depreciation of plant and machinery (owned)

(123)

(162)

Depreciation of motor vehicles (owned)

(809)

(1,079)

Depreciation of office equipment (owned)

(43)

(58)

(975)

(1,299)

Operating profit

7,352

4,019

 

Lee Evans Limited

Detailed Profit and Loss Account for the Year Ended 30 June 2023

2023
 £

2022
 £

Interest payable and similar charges

Bank interest payable

318

64

Hire purchase interest

1,151

567

1,469

631

Profit before tax

5,883

3,388