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Registration number: 04903972

Lee Allen Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Lee Allen Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Lee Allen Limited

Company Information

Director

Mr Lee Allen

Registered office

26 Golden Close
Brixham
TQ2 5QT

Accountants

Neil Wilson & Co Chartered Accountants Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Lee Allen Limited

(Registration number: 04903972)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9

13

Current assets

 

Stocks

5

1,500

1,550

Cash at bank and in hand

 

228

763

 

1,728

2,313

Creditors: Amounts falling due within one year

6

(14,576)

(14,865)

Net current liabilities

 

(12,848)

(12,552)

Net liabilities

 

(12,839)

(12,539)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(12,840)

(12,540)

Shareholders' deficit

 

(12,839)

(12,539)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 March 2025
 

.........................................
Mr Lee Allen
Director

 

Lee Allen Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
26 Golden Close
Brixham
TQ2 5QT

These financial statements were authorised for issue by the director on 3 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% Reducing balance

Plant and machinery

25% Reducing balance

 

Lee Allen Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 2).

 

Lee Allen Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

2,392

1,484

3,876

At 30 September 2024

2,392

1,484

3,876

Depreciation

At 1 October 2023

2,385

1,478

3,863

Charge for the year

2

2

4

At 30 September 2024

2,387

1,480

3,867

Carrying amount

At 30 September 2024

5

4

9

At 30 September 2023

7

6

13

5

Stocks

2024
£

2023
£

Work in progress

1,500

1,550

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

708

229

Accruals and deferred income

2,046

1,571

Other creditors

11,822

13,065

14,576

14,865

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       
 

Lee Allen Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Dividends

9

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

At 30 September 2024
£

Mr Lee Allen

Loan from director

(13,065)

1,243

(11,822)

2023

At 1 October 2022
£

Repayments by director
£

At 30 September 2023
£

Mr Lee Allen

Loan from director

(11,102)

(1,963)

(13,065)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,570