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Registration number: 14472316

Lees Equine Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 November 2024

 

Lees Equine Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 4

 

Lees Equine Limited

(Registration number: 14472316)
Abridged Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

19,344

24,626

Current assets

 

Stocks

7,250

6,908

Debtors

7,463

9,316

Cash at bank and in hand

 

5,039

1,335

 

19,752

17,559

Creditors: Amounts falling due within one year

(31,892)

(16,403)

Net current (liabilities)/assets

 

(12,140)

1,156

Total assets less current liabilities

 

7,204

25,782

Provisions for liabilities

(4,254)

(4,679)

Net assets

 

2,950

21,103

Capital and reserves

 

Called up share capital

110

110

Profit and loss account

2,840

20,993

Total equity

 

2,950

21,103

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

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Lees Equine Limited

(Registration number: 14472316)
Abridged Balance Sheet as at 30 November 2024

Approved and authorised by the director on 13 June 2025
 




Mr A F Lees

Director

 

Lees Equine Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 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:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the director on 13 June 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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 represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Lees Equine Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

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

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

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

4

Tangible assets

Total
£

Cost or valuation

At 1 December 2023

32,836

Additions

1,166

At 30 November 2024

34,002

Depreciation

At 1 December 2023

8,210

Charge for the year

6,448

At 30 November 2024

14,658

Carrying amount

At 30 November 2024

19,344

At 30 November 2023

24,626

5

Related party transactions

Advances to directors


Mr A F Lees

During the period Mr A F Lees went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £6,566. At the year end the amount outstanding from Mr A F Lees was £Nil. Interest has been charged at the aprroved HMRC interest rate.