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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
Page
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Lee Building Contractors Limited Company Information for the year ended 29 February 2024
Director
Andrew Lee
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
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Lee Building Contractors Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,000 
33,251 
Current assets
Debtors
25,749 
5,760 
Cash at bank and in hand
64,214 
70,557 
89,963 
76,317 
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)
Net assets
6,233 
33,297 
Capital and reserves
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
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Lee Building Contractors Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
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 taxation
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.
Leased assets
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.
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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 
Depreciation
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 
Net book value
At 29 February 2024
20,677 
323 
21,000 
At 28 February 2023
32,612 
639 
33,251 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
7,593 
4,893 
Accrued income and prepayments
18,156 
867 
25,749 
5,760 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,501 
- 
VAT
5,713 
15,662 
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 
Other creditors
11,079 
- 
Loans from directors
(54)
5,397 
Accruals
125 
5,000 
56,489 
63,225 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
42,991 
- 
Obligations under finance leases and hire purchase contracts
- 
4,733 
42,991 
4,733 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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