Company Registration No. 11222290 (England and Wales)
Lee Building Contractors Limited
Unaudited accounts
for the year ended 29 February 2024
Lee Building Contractors Limited
Unaudited accounts
Contents
Lee Building Contractors Limited
Company Information
for the year ended 29 February 2024
Company Number
11222290 (England and Wales)
Registered Office
123 Cross Lane East
Gravesend
Kent
DA12 5HA
Accountants
King & Taylor
123 Cross Lane East
Gravesend
Kent
DA12 5HA
Lee Building Contractors Limited
Statement of financial position
as at 29 February 2024
Tangible assets
21,000
33,251
Cash at bank and in hand
64,214
70,557
Creditors: amounts falling due within one year
(56,489)
(63,225)
Net current assets
33,474
13,092
Total assets less current liabilities
54,474
46,343
Creditors: amounts falling due after more than one year
(42,991)
(4,733)
Provisions for liabilities
Deferred tax
(5,250)
(8,313)
Called up share capital
1
1
Profit and loss account
6,232
33,296
Shareholders' funds
6,233
33,297
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2024 and were signed on its behalf by
Andrew Lee
Director
Company Registration No. 11222290
Lee Building Contractors Limited
Notes to the Accounts
for the year ended 29 February 2024
Lee Building Contractors Limited is a private company, limited by shares, registered in England and Wales, registration number 11222290. The registered office is 123 Cross Lane East, Gravesend, Kent, DA12 5HA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance basis
Computer equipment
3 year straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Lee Building Contractors Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2023
75,260
1,109
76,369
Disposals
(21,250)
-
(21,250)
At 29 February 2024
54,010
1,109
55,119
At 1 March 2023
42,648
470
43,118
Charge for the year
8,153
316
8,469
On disposals
(17,468)
-
(17,468)
At 29 February 2024
33,333
786
34,119
At 29 February 2024
20,677
323
21,000
At 28 February 2023
32,612
639
33,251
Amounts falling due within one year
Accrued income and prepayments
18,156
867
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,501
-
Obligations under finance leases and hire purchase contracts
5,534
10,288
Trade creditors
15,083
3,857
Taxes and social security
12,508
23,021
Loans from directors
(54)
5,397
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
4,733
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).