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REGISTERED NUMBER: 12377446 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

LEE PROPERTY GROUP LTD

LEE PROPERTY GROUP LTD (REGISTERED NUMBER: 12377446)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LEE PROPERTY GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: B J Lee
R L Lee





REGISTERED OFFICE: Cobb House
2-4 Oyster Lane
West Byfleet
Surrey
KT14 7DU





REGISTERED NUMBER: 12377446 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

LEE PROPERTY GROUP LTD (REGISTERED NUMBER: 12377446)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,444,447 386,870

CURRENT ASSETS
Cash at bank 11,485 73,827

CREDITORS
Amounts falling due within one year 5 913,720 25,975
NET CURRENT (LIABILITIES)/ASSETS (902,235 ) 47,852
TOTAL ASSETS LESS CURRENT LIABILITIES 542,212 434,722

CREDITORS
Amounts falling due after more than one year 6 (403,714 ) (223,676 )

PROVISIONS FOR LIABILITIES 8 (3,010 ) (3,010 )
NET ASSETS 135,488 208,036

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 135,388 207,936
SHAREHOLDERS' FUNDS 135,488 208,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2025 and were signed on its behalf by:





B J Lee - Director


LEE PROPERTY GROUP LTD (REGISTERED NUMBER: 12377446)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Lee Property Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents revenue recognised in respect of rent receivable and other income from the letting and management of property.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

LEE PROPERTY GROUP LTD (REGISTERED NUMBER: 12377446)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 386,870
Additions 1,057,577
At 31 October 2024 1,444,447
NET BOOK VALUE
At 31 October 2024 1,444,447
At 31 October 2023 386,870

The valuation of the properties was based on an open market value by reference to market evidence of transaction prices for similar properties by directors.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Taxation and social security - 2,739
Other creditors 913,720 23,236
913,720 25,975

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Other creditors 403,714 223,676

7. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Mortgages 403,711 223,676

Various charges are held over the investment properties.

8. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax 3,010 3,010

Deferred
tax
£   
Balance at 1 November 2023 3,010
Balance at 31 October 2024 3,010

LEE PROPERTY GROUP LTD (REGISTERED NUMBER: 12377446)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
Director
Balance outstanding at start of year (16,915 ) (19,603 )
Amounts advanced 10,500 3,000
Amounts repaid (809,965 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (816,380 ) (16,915 )