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Registered number: 07753056
Lee Billing Joinery Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
LPTA Limited
Chartered Certified Accountants
Priory Road
Priory Place
Tiptree
Essex
CO5 0QE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07753056
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 76,985 43,247
76,985 43,247
CURRENT ASSETS
Stocks 5 4,321 7,053
Debtors 6 54,019 39,852
Cash at bank and in hand 128,273 82,072
186,613 128,977
Creditors: Amounts Falling Due Within One Year 7 (72,433 ) (56,605 )
NET CURRENT ASSETS (LIABILITIES) 114,180 72,372
TOTAL ASSETS LESS CURRENT LIABILITIES 191,165 115,619
Creditors: Amounts Falling Due After More Than One Year 8 (13,333 ) (23,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,743 ) (6,066 )
NET ASSETS 163,089 86,220
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 163,088 86,219
SHAREHOLDERS' FUNDS 163,089 86,220
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Lee Billing
Director
30th September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lee Billing Joinery Limited Registered number 07753056 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit K1 Bentalls Ind. Estate, Holloway Road Heybridge, Maldon, Essex, CM9 4LY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 66,697 15,876 4,231 86,804
Additions 51,328 565 1,091 52,984
As at 29 February 2024 118,025 16,441 5,322 139,788
Depreciation
As at 1 March 2023 36,435 5,682 1,440 43,557
Provided during the period 16,318 2,152 776 19,246
As at 29 February 2024 52,753 7,834 2,216 62,803
Net Book Value
As at 29 February 2024 65,272 8,607 3,106 76,985
As at 1 March 2023 30,262 10,194 2,791 43,247
5. Stocks
2024 2023
£ £
Stock 4,321 7,053
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,652 3,551
Prepayments and accrued income 1,068 1,002
Blackwater Leasing Debtor 35,299 35,299
54,019 39,852
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,322 22,900
Bank loans and overdrafts 10,000 10,000
Corporation tax 16,845 158
Other taxes and social security 2,975 1,992
VAT 2,077 1,450
Natwest Credit card 1,550 1,784
Accruals and deferred income 1,395 1,275
Director's loan account 23,269 17,046
72,433 56,605
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,333 23,333
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1 each 1 1
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 4,000 4,000
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr Lee Billing by virtue of his ownership of 100% of the issued share capital in the company.
Page 5