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Registered number: 01050064

F. & S. Lee & Son Limited

ACCOUNTS
FOR THE YEAR ENDED 28/02/2023

Prepared By:
Forbes Watson Limited
Accountants
The Old Bakery
Green Street
Lytham
Lancashire
FY8 5LG

F. & S. Lee & Son Limited

ACCOUNTS
FOR THE YEAR ENDED 28/02/2023
DIRECTORS
Andrew Lee
Susan Margaret Lee
REGISTERED OFFICE
29 Lytham Road
Freckleton
Preston
Lancashire
PR4 1AA
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 01050064
ACCOUNTANTS
Forbes Watson Limited
Accountants
The Old Bakery
Green Street
Lytham
Lancashire
FY8 5LG

F. & S. Lee & Son Limited

ACCOUNTS
FOR THEYEARENDED28/02/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

F. & S. Lee & Son Limited

BALANCE SHEET AT 28/02/2023
20232022
Notes££
FIXED ASSETS
Tangible assets2178,125183,899
CURRENT ASSETS
Stock60,27990,853
Cash at bank and in hand253,525245,929
313,804336,782
CREDITORS: Amounts falling due within one year449,66752,991
NET CURRENT ASSETS264,137283,791
TOTAL ASSETS LESS CURRENT LIABILITIES442,262467,690
CAPITAL AND RESERVES
Called up share capital6100100
Profit and loss account442,162467,590
SHAREHOLDERS' FUNDS442,262467,690
For the year ending 28/02/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 21/08/2023 and signed on their behalf by
.............................
Susan Margaret Lee
Director

F. & S. Lee & Son Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28/02/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Land And Buildingsstraight line 2%
Fixtures and Fittingsreducing balance 15%
Motor Carsreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

F. & S. Lee & Son Limited

2. TANGIBLE FIXED ASSETS
Land AndFixtures
Buildingsand FittingsMotor CarsTotal
££££
Cost
At 01/03/2022241,420132,55911,974385,953
Additions-1,788-1,788
At 28/02/2023241,420134,34711,974387,741
Depreciation
At 01/03/202274,920115,69211,442202,054
For the year4,5002,5305327,562
At 28/02/202379,420118,22211,974209,616
Net Book Amounts
At 28/02/2023162,00016,125-178,125
At 28/02/2022166,50016,867532183,899
3. STOCK 20232022
££
Stock comprises:
Stock60,27990,853
60,27990,853
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax8,31311,101
VAT4,0287,281
PAYE control349198
Directors current account33,00127,834
Trade creditors3,3811,188
Accruals5955,389
49,66752,991
5. EMPLOYEES
20232022
No.No.
Average number of employees77

F. & S. Lee & Son Limited

6. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
7. RELATED PARTY TRANSACTIONS
During the year Mr and Mrs A Lee, who are directors and 100% shareholder of the Company, were provided with living accommodation by the Company. This living accommodation comprised the flat above the shop premises at 29 Lytham Road, Freckleton, Preston, PR4 1AA. The Company charged Mr & Mrs A Lee a market value rent of £5,200 (2022: £5,200) for use of the flat during the year and there were no amounts outstanding at the year end.