IRIS Accounts Production v23.1.5.20 07546120 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false 100102 100102 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075461202022-02-28075461202023-02-28075461202022-03-012023-02-28075461202021-02-28075461202021-03-012022-02-28075461202022-02-2807546120ns15:EnglandWales2022-03-012023-02-2807546120ns14:PoundSterling2022-03-012023-02-2807546120ns10:Director12022-03-012023-02-2807546120ns10:PrivateLimitedCompanyLtd2022-03-012023-02-2807546120ns10:SmallEntities2022-03-012023-02-2807546120ns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2807546120ns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2807546120ns10:SmallCompaniesRegimeForAccounts2022-03-012023-02-2807546120ns10:FullAccounts2022-03-012023-02-280754612041ns10:Director12022-03-012023-02-280754612041ns10:Director12023-02-2807546120ns10:Director22022-03-012023-02-2807546120ns10:CompanySecretary12022-03-012023-02-2807546120ns10:RegisteredOffice2022-03-012023-02-2807546120ns5:CurrentFinancialInstruments2023-02-2807546120ns5:CurrentFinancialInstruments2022-02-2807546120ns5:Non-currentFinancialInstruments2023-02-2807546120ns5:Non-currentFinancialInstruments2022-02-2807546120ns5:ShareCapital2023-02-2807546120ns5:ShareCapital2022-02-2807546120ns5:RetainedEarningsAccumulatedLosses2023-02-2807546120ns5:RetainedEarningsAccumulatedLosses2022-02-2807546120ns5:FurnitureFittings2022-03-012023-02-2807546120ns5:MotorVehicles2022-03-012023-02-2807546120ns5:FurnitureFittings2022-02-2807546120ns5:MotorVehicles2022-02-2807546120ns5:FurnitureFittings2023-02-2807546120ns5:MotorVehicles2023-02-2807546120ns5:FurnitureFittings2022-02-2807546120ns5:MotorVehicles2022-02-2807546120ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-02-2807546120ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-03-012023-02-2807546120ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2807546120ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-02-2807546120ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2807546120ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2807546120ns10:Director222022-02-2807546120ns10:Director222021-02-2807546120ns10:Director222022-03-012023-02-2807546120ns10:Director222021-03-012022-02-2807546120ns10:Director222023-02-2807546120ns10:Director222022-02-28
REGISTERED NUMBER: 07546120 (England and Wales)

















Lee Ford IFA Limited

Financial Statements

for the Year Ended 28 February 2023






Lee Ford IFA Limited (Registered number: 07546120)

Contents of the Financial Statements
for the year ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lee Ford IFA Limited

Company Information
for the year ended 28 February 2023







DIRECTORS: L G Ford
Mrs C L Ford



SECRETARY: Mrs C L Ford



REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX



REGISTERED NUMBER: 07546120 (England and Wales)



ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX



BANKERS: Barclays Bank plc
10 South Street
Dorchester
Dorset
DT1 1BT

Lee Ford IFA Limited (Registered number: 07546120)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 127,517 93,230

CURRENT ASSETS
Debtors 5 100,131 1,296
Cash at bank 294,516 450,876
394,647 452,172
CREDITORS
Amounts falling due within one year 6 57,731 85,531
NET CURRENT ASSETS 336,916 366,641
TOTAL ASSETS LESS CURRENT
LIABILITIES

464,433

459,871

CREDITORS
Amounts falling due after more than one
year

7

(22,615

)

(16,013

)

PROVISIONS FOR LIABILITIES (31,060 ) (12,111 )
NET ASSETS 410,758 431,747

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 410,756 431,745
SHAREHOLDERS' FUNDS 410,758 431,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:





L G Ford - Director


Lee Ford IFA Limited (Registered number: 07546120)

Notes to the Financial Statements
for the year ended 28 February 2023


1. STATUTORY INFORMATION

Lee Ford IFA 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, fittings, equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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 3 (2022 - 3 ) .

Lee Ford IFA Limited (Registered number: 07546120)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


4. TANGIBLE FIXED ASSETS
Fixtures,
fittings, Motor
equipment vehicles Totals
£    £    £   
COST
At 1 March 2022 131,751 35,570 167,321
Additions 41,266 34,600 75,866
Disposals - (35,570 ) (35,570 )
At 28 February 2023 173,017 34,600 207,617
DEPRECIATION
At 1 March 2022 53,527 20,564 74,091
Charge for year 17,923 8,650 26,573
Eliminated on disposal - (20,564 ) (20,564 )
At 28 February 2023 71,450 8,650 80,100
NET BOOK VALUE
At 28 February 2023 101,567 25,950 127,517
At 28 February 2022 78,224 15,006 93,230

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2022 35,570
Additions 34,600
Disposals (35,570 )
At 28 February 2023 34,600
DEPRECIATION
At 1 March 2022 20,564
Charge for year 8,650
Eliminated on disposal (20,564 )
At 28 February 2023 8,650
NET BOOK VALUE
At 28 February 2023 25,950
At 28 February 2022 15,006

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 1,208
Directors' current accounts 100,102 -
Prepayments and accrued income 29 88
100,131 1,296

Lee Ford IFA Limited (Registered number: 07546120)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,846 4,789
UK corporation tax 34,450 57,446
Tax and social security costs 18,236 20,897
Other creditors - 1,042
Directors' current accounts - 158
Accruals and deferred income 1,199 1,199
57,731 85,531

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 22,615 16,013

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 26,461 20,802

Hire purchase liabilities are secured on the assets concerned.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Mrs C L Ford and L G Ford
Balance outstanding at start of year - -
Amounts advanced 100,102 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100,102 -