REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 April 2023 to 30 September 2024 |
for |
Lees House Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 April 2023 to 30 September 2024 |
for |
Lees House Limited |
Lees House Limited (Registered number: 04344346) |
Contents of the Financial Statements |
for the Period 1 April 2023 to 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Lees House Limited |
Company Information |
for the Period 1 April 2023 to 30 September 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Stafford House |
Blackbrook Park Avenue |
Taunton |
Somerset |
TA1 2PX |
Lees House Limited (Registered number: 04344346) |
Balance Sheet |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
Lees House Limited (Registered number: 04344346) |
Notes to the Financial Statements |
for the Period 1 April 2023 to 30 September 2024 |
1. | STATUTORY INFORMATION |
Lees House Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of value added tax, and represents rent receivable for the year. |
Tangible fixed assets |
The long leasehold property is stated in the balance sheet at directors' valuation. |
The property is not depreciated as it is regularly revalued and it is considered that depreciation would be immaterial. Annual impairment reviews are undertaken to ensure the carrying value can be supported. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the period 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 |
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 period 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. |
Pension costs and other post-retirement benefits |
The company contributes to an employee personal pension plan. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Lees House Limited (Registered number: 04344346) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 September 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Long | Plant and | Computer |
property | leasehold | machinery | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 March 2023 |
Cost or valuation at 30 September 2024 is represented by: |
Freehold | Long | Plant and | Computer |
property | leasehold | machinery | equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 2017 | - | 3,555,680 | - | - | 3,555,680 |
Valuation in 2022 | - | 650,224 | - | - | 650,224 |
Cost | 2,553,092 | 4,402,728 | 4,265 | 1,965 | 6,962,050 |
2,553,092 | 8,608,632 | 4,265 | 1,965 | 11,167,954 |
If the leasehold property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 4,402,728 | 4,044,096 |
The leasehold property was last valued on an open market basis on 31 March 2022 by the directors . |
5. | STOCKS |
2024 | 2023 |
£ | £ |
Work-in-progress |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Service charge account net assets | 14,892 | - |
Prepayments and accrued income |
Included in other debtors is a loan made to Dentons SIPP DR Hill and Dentons SIPP RE Hill. The loan documentation was completed on 30 April 2021. The loan carries interest at 2.75% per annum and is repayable in 36 quarterly instalments. The loan is repayable by 30 April 2031. |
Lees House Limited (Registered number: 04344346) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 September 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Other taxes and social security | 2,682 | 16,904 |
Other creditors |
Amounts owed to service charge tenants | 14,892 | - |
Directors' current accounts | - | 1,550 |
Accruals and deferred income |
8. | LEASE COMMITMENTS |
The company is committed to annual lease payments of £76,400 in respect of a long lease which expires in 2108. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is L F D Group Limited, a company incorporated in England and Wales. |
The directors, Mr D R and Mrs R E Hill, own the entire issued share capital of L F D Group Limited and are therefore the ultimate controlling party. |