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Registration number: 04501333

Lee Fletcher Funeral Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Lee Fletcher Funeral Services Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Lee Fletcher Funeral Services Limited

Company Information

Director

Mr Lee Fletcher

Company secretary

Mrs Sylvia Lily Corke

Registered office

95 High Street
Cosham
Portsmouth
Hampshire
PO6 3AZ

Accountants

D V Marlow & Co Limited
Chartered Accountants
72 West Street
Portchester
Fareham
Hampshire
PO16 9UN

 

Lee Fletcher Funeral Services Limited

(Registration number: 04501333)
Statement of Financial Position as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

273,420

198,019

Current assets

 

Stocks

5

8,694

8,050

Debtors

6

22,942

10,637

Cash at bank and in hand

 

16,084

102,301

 

47,720

120,988

Creditors: Amounts falling due within one year

7

(54,322)

(38,139)

Net current (liabilities)/assets

 

(6,602)

82,849

Total assets less current liabilities

 

266,818

280,868

Creditors: Amounts falling due after more than one year

7

(59,173)

(65,666)

Provisions for liabilities

(13,036)

(15,690)

Net assets

 

194,609

199,512

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

194,607

199,510

Shareholders' funds

 

194,609

199,512

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 18 April 2024
 

 

Lee Fletcher Funeral Services Limited

(Registration number: 04501333)
Statement of Financial Position as at 31 July 2023

.........................................
Mr Lee Fletcher
Director

   
     
 

Lee Fletcher Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
95 High Street
Cosham
Portsmouth
Hampshire
PO6 3AZ

These financial statements were authorised for issue by the director on 18 April 2024.

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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 and deferred 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 Fletcher Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Lee Fletcher Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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 income statement 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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 8).

 

Lee Fletcher Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Improvements
 £

Total
£

Cost or valuation

At 1 August 2022

155,697

63,767

195,005

2,750

417,219

Additions

46,705

-

-

60,408

107,113

At 31 July 2023

202,402

63,767

195,005

63,158

524,332

Depreciation

At 1 August 2022

40,255

36,160

140,036

2,749

219,200

Charge for the year

7,788

4,141

13,742

6,041

31,712

At 31 July 2023

48,043

40,301

153,778

8,790

250,912

Carrying amount

At 31 July 2023

154,359

23,466

41,227

54,368

273,420

At 31 July 2022

115,442

27,607

54,969

1

198,019

 

Lee Fletcher Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

5

Stocks

2023
£

2022
£

Other inventories

8,694

8,050

6

Debtors

Current

2023
£

2022
£

Trade debtors

19,996

10,637

Other debtors

2,946

-

 

22,942

10,637

 

Lee Fletcher Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

6,446

6,400

Trade creditors

 

8,022

12,387

Taxation and social security

 

18,569

7,455

Accruals and deferred income

 

3,840

-

Other creditors

 

17,445

11,897

 

54,322

38,139

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

59,173

65,666

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

59,173

65,666

Current loans and borrowings

2023
£

2022
£

Bank borrowings

6,446

6,400

 

Lee Fletcher Funeral Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

10

Related party transactions

Transactions with the director

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Mr Lee Fletcher

(159)

50,045

(49,935)

(49)

2022

At 1 August 2021
£

Advances to director
£

Repayments by director
£

At 31 July 2022
£

Mr Lee Fletcher

(809)

5,797

(5,147)

(159)

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

17,229

13,828