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Registered Number: 01050064
England and Wales

 

 

 


Abridged Accounts


for the year ended 28 February 2025

for

F. & S. LEE & SON LIMITED

Report to the directors on the preparation of the unaudited statutory accounts of F. & S. Lee & Son Limited for the year ended 28 February 2025.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of F. & S. Lee & Son Limited for the year ended 28 February 2025 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/.
This report is made solely to the Board of Directors of F. & S. Lee & Son Limited, as a body, in accordance with the terms of our engagement letter dated 12 September 2012. Our work has been undertaken solely to prepare for your approval the accounts of F. & S. Lee & Son Limited and state those matters that we have agreed to state to the Board of Directors of F. & S. Lee & Son Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than F. & S. Lee & Son Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that F. & S. Lee & Son Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of F. & S. Lee & Son Limited. You consider that F. & S. Lee & Son 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 accounts of F. & S. Lee & Son 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 accounts.



....................................................

Forbes Watson Limited

The Old Bakery
Green Street
Lytham
FY8 5LG
10 June 2025
1
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 3 302,650    171,206 
302,650    171,206 
Current assets      
Stocks 63,157    61,200 
Cash at bank and in hand 66,037    229,420 
129,194    290,620 
Creditors: amount falling due within one year (46,110)   (45,127)
Net current assets 83,084    245,493 
 
Total assets less current liabilities 385,734    416,699 
Net assets 385,734    416,699 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 385,634    416,599 
Shareholders' funds 385,734    416,699 
 


For the year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 10 June 2025 and were signed on its behalf by:


-------------------------------
Andrew Lee
Director
2
General Information
F. & S. Lee & Son Limited is a private company, limited by shares, registered in England and Wales, registration number 01050064, registration address 29 Lytham Road, Freckleton, Preston, Lancashire, PR4 1AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 2% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 6 (2024 : 7).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 March 2024 241,420    11,974    134,347    387,741 
Additions 138,000        138,000 
Disposals      
At 28 February 2025 379,420    11,974    134,347    525,741 
Depreciation
At 01 March 2024 83,920    11,974    120,641    216,535 
Charge for year 4,500      2,056    6,556 
On disposals      
At 28 February 2025 88,420    11,974    122,697    223,091 
Net book values
Closing balance as at 28 February 2025 291,000      11,650    302,650 
Opening balance as at 01 March 2024 157,500      13,706    171,206 


3