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Company No: 08522800 (England and Wales)

LEJ PROPERTIES LTD

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

LEJ PROPERTIES LTD

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

LEJ PROPERTIES LTD

COMPANY INFORMATION

For the financial year ended 31 May 2024
LEJ PROPERTIES LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2024
DIRECTORS George Hughes (Appointed 06 October 2023, Resigned 01 November 2024)
Simon Hughes
Sheona Hughes (Appointed 14 October 2024)
REGISTERED OFFICE Nuralite House
Nuralite Industrial Centre
Canal Road
Higham
Rochester
Kent
England
ME3 7JA
United Kingdom
COMPANY NUMBER 08522800 (England and Wales)
CHARTERED ACCOUNTANTS Burgess Hodgson LLP
Camburgh House
27 New Dover Road
Canterbury
CT1 3DN
LEJ PROPERTIES LTD

STATEMENT OF FINANCIAL POSITION

As at 31 May 2024
LEJ PROPERTIES LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 544,064 529,203
544,064 529,203
Current assets
Debtors 5 574,340 271,760
Cash at bank and in hand 499,699 1,150,624
1,074,039 1,422,384
Creditors: amounts falling due within one year 6 ( 1,225,784) ( 1,056,265)
Net current (liabilities)/assets (151,745) 366,119
Total assets less current liabilities 392,319 895,322
Provision for liabilities ( 6,026) ( 2,169)
Net assets 386,293 893,153
Capital and reserves
Called-up share capital 100 100
Revaluation reserve 775 0
Profit and loss account 385,418 893,053
Total shareholder's funds 386,293 893,153

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of LEJ Properties Ltd (registered number: 08522800) were approved and authorised for issue by the Board of Directors on 13 January 2025. They were signed on its behalf by:

Mr S Hughes
Director
LEJ PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
LEJ PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

LEJ Properties Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nuralite House, Nuralite Industrial Centre, Canal Road, Higham, Rochester, Kent, England,ME3 7JA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises revenue recognised by the company in respect of rental income, net of Value Added Tax where applicable.

Taxation

Current tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Investment property not depreciated
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
The average number of persons employed by the company during the year amounted to: 3 2

4. Tangible assets

Investment property Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 June 2023 517,379 42,560 6,000 1,708 567,647
Additions 0 18,466 0 0 18,466
Revaluations 0 1,034 0 0 1,034
At 31 May 2024 517,379 62,060 6,000 1,708 587,147
Accumulated depreciation
At 01 June 2023 0 34,360 2,534 1,550 38,444
Charge for the financial year 0 3,732 867 40 4,639
At 31 May 2024 0 38,092 3,401 1,590 43,083
Net book value
At 31 May 2024 517,379 23,968 2,599 118 544,064
At 31 May 2023 517,379 8,200 3,466 158 529,203

5. Debtors

2024 2023
£ £
Trade debtors 46,831 59,571
Other debtors 527,509 212,189
574,340 271,760

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 253,228 138,320
Taxation and social security 96,644 120,430
Other creditors 875,912 797,515
1,225,784 1,056,265

The company has a fixed charge over it's investment property from Mr D Lee.

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
At the year end, a group company owed the company: 335,000 0

8. Ultimate controlling party

The company’s immediate and ultimate parent company at the balance sheet date is HDS Property Management Limited, a company incorporated in England and Wales. HDS Property Management Limited Limited’s registered address is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.