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REGISTERED NUMBER: 00599497 (England and Wales)








M.G. LEE (PROPERTY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






M.G. LEE (PROPERTY) LIMITED (BY SHARES) (REGISTERED NUMBER: 00599497)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Chartered Accountants' Report 4

M.G. LEE (PROPERTY) LIMITED (BY SHARES)

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTOR: M Axler





SECRETARY: D M Axler





REGISTERED OFFICE: Windlemere
Westwood Road
Windlesham
Surrey
GU20 6NB





REGISTERED NUMBER: 00599497 (England and Wales)





ACCOUNTANTS: Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR

M.G. LEE (PROPERTY) LIMITED (BY SHARES) (REGISTERED NUMBER: 00599497)

BALANCE SHEET
30 September 2024

2024 2023
£ £
FIXED ASSETS 44,514 46,640

CURRENT ASSETS 211,636 212,822

CREDITORS
Amounts falling due within one year (16,244 ) (12,940 )
NET CURRENT ASSETS 195,392 199,882
TOTAL ASSETS LESS CURRENT LIABILITIES 239,906 246,522

CREDITORS
Amounts falling due after more than one year (223,604 ) (230,881 )
NET ASSETS 16,302 15,641

CAPITAL AND RESERVES 16,302 15,641

NOTES TO THE FINANCIAL STATEMENTS

1. AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was 2 (2023 - 2 ) .

2. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£ £
M Axler
Balance outstanding at start of year 154,533 158,325
Amounts advanced 2,800 -
Amounts repaid (216 ) (3,792 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 157,117 154,533

At the year end, the outstanding loan for the director is not expected to be repaid within one year. No interest is charged on the loan and there are no specific repayment terms.

3. OTHER FINANCIAL COMMITMENTS

The company has a loan agreement with Barclays Bank Plc in respect of a £257,550 loan taken out in May 2021 for a 5 year term. Interest is charged on the loan at 2.9% above base rate. Monthly capital repayments are being made at approximately £534, with the balance being repayable in May 2026. The loan is secured by a floating charge over the assets of the business, and by way of a fixed charge over The Lodge, Windlemere.



M.G. LEE (PROPERTY) LIMITED (BY SHARES) (REGISTERED NUMBER: 00599497)

BALANCE SHEET - continued
30 September 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 30 April 2025 and were signed by:





M Axler - Director


CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
M.G. LEE (PROPERTY) LIMITED (BY SHARES)


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement is not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M.G. Lee (Property) Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of M.G. Lee (Property) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M.G. Lee (Property) Limited and state those matters that we have agreed to state to the director of M.G. Lee (Property) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M.G. Lee (Property) Limited and its director for our work or for this report.

It is your duty to ensure that M.G. Lee (Property) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M.G. Lee (Property) Limited. You consider that M.G. Lee (Property) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of M.G. Lee (Property) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Director, who obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.






Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR


30 April 2025