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Registered number: 12294468










LEE FAMILY PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
LEE FAMILY PROPERTIES LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LEE FAMILY PROPERTIES LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lee Family Properties Limited for the year ended 30 November 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Lee Family Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Lee Family Properties Limited and state those matters that we have agreed to state to the Board of directors of Lee Family Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lee Family Properties Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Lee Family Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lee Family Properties Limited. You consider that Lee Family Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Lee Family Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MWS
 
Chartered Accountants
  
Kingsridge House
601 London Road
Westcliff On Sea
Essex
SS0 9PE
27 August 2024
Page 1

 
LEE FAMILY PROPERTIES LIMITED
REGISTERED NUMBER: 12294468

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Current asset investments
 4 
468,923
545,259

Cash at bank and in hand
 5 
76,237
65

  
545,160
545,324

Creditors: amounts falling due within one year
 6 
(547,199)
(546,879)

Net current liabilities
  
 
 
(2,039)
 
 
(1,555)

Total assets less current liabilities
  
(2,039)
(1,555)

  

Net liabilities
  
(2,039)
(1,555)


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
(2,042)
(1,558)

  
(2,039)
(1,555)


Page 2

 
LEE FAMILY PROPERTIES LIMITED
REGISTERED NUMBER: 12294468

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2024.




C. Lee
Director

The notes on pages 4 to 5 form part of these financial statements.

Page 3

 
LEE FAMILY PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

The company is a private company limited by shares and was incorporated in England & Wales. The
registered office is:
Kingsridge House,
601 London Road,
Westcliff-on-Sea,
Essex,
SS0 9PE.
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

In view of the loss for the year of £484 and the excess of liabilities over assets at the balance sheet date of £2,039, the going concern basis is dependent upon the continued support of the company's creditors.
The company's creditors have continued to support the company and the directors are of the opinion that they will continue to do so. In light of the aforementioned, the directors consider it appropriate to adopt the going concern basis in preparing these financial statements.

 
2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
LEE FAMILY PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Current asset investments

2023
2022
£
£

Unlisted investments
468,923
545,259

468,923
545,259


The current asset investment is made up of shares held £763 (2022 £763) and a loan of £468,160 (2022 £544,496).


5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
76,237
65

76,237
65



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
360
240

Other creditors
546,839
546,639

547,199
546,879



7.


Related party transactions

Other creditors in the amount of £545,959 (2021 £545,759) relates to a loan from a company under common control.


Page 5