Lees Building Contractors Limited 05223274 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is Building Contractor Digita Accounts Production Advanced 6.30.9574.0 true 05223274 2022-11-01 2023-10-31 05223274 2023-10-31 05223274 core:RetainedEarningsAccumulatedLosses 2023-10-31 05223274 core:ShareCapital 2023-10-31 05223274 core:CurrentFinancialInstruments 2023-10-31 05223274 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 05223274 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 05223274 core:Goodwill 2023-10-31 05223274 core:FurnitureFittingsToolsEquipment 2023-10-31 05223274 core:MotorVehicles 2023-10-31 05223274 core:OtherPropertyPlantEquipment 2023-10-31 05223274 bus:SmallEntities 2022-11-01 2023-10-31 05223274 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 05223274 bus:FilletedAccounts 2022-11-01 2023-10-31 05223274 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 05223274 bus:RegisteredOffice 2022-11-01 2023-10-31 05223274 bus:CompanySecretaryDirector1 2022-11-01 2023-10-31 05223274 bus:Director1 2022-11-01 2023-10-31 05223274 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 05223274 core:Goodwill 2022-11-01 2023-10-31 05223274 core:ComputerEquipment 2022-11-01 2023-10-31 05223274 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 05223274 core:MotorVehicles 2022-11-01 2023-10-31 05223274 core:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 05223274 core:PlantMachinery 2022-11-01 2023-10-31 05223274 countries:EnglandWales 2022-11-01 2023-10-31 05223274 2022-10-31 05223274 core:Goodwill 2022-10-31 05223274 core:FurnitureFittingsToolsEquipment 2022-10-31 05223274 core:MotorVehicles 2022-10-31 05223274 core:OtherPropertyPlantEquipment 2022-10-31 05223274 2021-11-01 2022-10-31 05223274 2022-10-31 05223274 core:RetainedEarningsAccumulatedLosses 2022-10-31 05223274 core:ShareCapital 2022-10-31 05223274 core:CurrentFinancialInstruments 2022-10-31 05223274 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 05223274 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 05223274 core:Goodwill 2022-10-31 05223274 core:FurnitureFittingsToolsEquipment 2022-10-31 05223274 core:MotorVehicles 2022-10-31 05223274 core:OtherPropertyPlantEquipment 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 05223274

Lees Building Contractors Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Lees Building Contractors Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Lees Building Contractors Limited

Company Information

Directors

CE Lees

TC Lees

Company secretary

TC Lees

Registered office

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

Lees Building Contractors Limited

(Registration number: 05223274)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

2,300

4,600

Tangible assets

5

47,818

49,216

 

50,118

53,816

Current assets

 

Stocks

6

798

778

Debtors

7

184,390

123,702

Cash at bank and in hand

 

181,298

144,689

 

366,486

269,169

Creditors: Amounts falling due within one year

8

(140,707)

(111,450)

Net current assets

 

225,779

157,719

Total assets less current liabilities

 

275,897

211,535

Creditors: Amounts falling due after more than one year

8

(17,776)

(20,089)

Provisions for liabilities

(9,086)

(9,351)

Net assets

 

249,035

182,095

Capital and reserves

 

Called up share capital

2

2

Retained earnings

249,033

182,093

Shareholders' funds

 

249,035

182,095

 

Lees Building Contractors Limited

(Registration number: 05223274)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
TC Lees
Company secretary and director

 

Lees Building Contractors Limited

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

1

General information

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

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.

The presentation currency of the financial statements is Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale 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.

 

Lees Building Contractors Limited

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

2

Accounting policies (continued)

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.

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 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.

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:

Asset class

Depreciation method and rate

Plant and machinery

15% Reducing balance

Motor vehicles

25% Reducing balance

Computer equipment

33% Straight line

 

Lees Building Contractors Limited

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

2

Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 20 years

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.

 

Lees Building Contractors Limited

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

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 5).

 

Lees Building Contractors Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2022

46,000

46,000

At 31 October 2023

46,000

46,000

Amortisation

At 1 November 2022

41,400

41,400

Amortisation charge

2,300

2,300

At 31 October 2023

43,700

43,700

Carrying amount

At 31 October 2023

2,300

2,300

At 31 October 2022

4,600

4,600

 

Lees Building Contractors Limited

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

5

Tangible assets

Computer equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 November 2022

12,673

125,381

41,057

179,111

Additions

-

40,414

-

40,414

Disposals

-

(35,415)

-

(35,415)

At 31 October 2023

12,673

130,380

41,057

184,110

Depreciation

At 1 November 2022

10,719

91,161

28,015

129,895

Charge for the year

1,277

12,018

1,956

15,251

Eliminated on disposal

-

(8,854)

-

(8,854)

At 31 October 2023

11,996

94,325

29,971

136,292

Carrying amount

At 31 October 2023

677

36,055

11,086

47,818

At 31 October 2022

1,954

34,220

13,042

49,216

6

Stocks

2023
£

2022
£

Closing stock

798

778

 

Lees Building Contractors Limited

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

7

Debtors

Current

2023
£

2022
£

Trade debtors

180,766

120,740

Prepayments

3,624

2,962

 

184,390

123,702

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

4,000

4,000

Trade creditors

 

4,211

2,343

Taxation and social security

 

99,319

56,693

Accruals and deferred income

 

8,991

15,958

Other creditors

 

24,186

32,456

 

140,707

111,450

 

Lees Building Contractors Limited

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

8

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

17,776

20,089