N LEES LTD


Director	LEES, Nadia Meadhbh


Registered Address	2 The Brambles
	Magherafelt
	BT45 5RZ


Registered Number	NI691032 (Northern Ireland)

Balance Sheet as at
30 September 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		88,433		-
Investment property	4		10		10
			88,443		10
Current assets
Debtors	5	4,598		242,150
Cash at bank and on hand		117,758		-
		122,356		242,150
Creditors amounts falling due within one year	6	(15,271)		(74,661)
Net current assets (liabilities)			107,085		167,489
Total assets less current liabilities			195,528		167,499
Net assets			195,528		167,499
Capital and reserves
Called up share capital			1		-
Profit and loss account			195,527		167,499
Shareholders' funds			195,528		167,499

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 16 September 2025, and are signed on its behalf by:

LEES, Nadia Meadhbh
Director
Registered Company No. NI691032

N LEES LTD

Notes to the Financial Statements
for the year ended 30 September 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Land and buildings	5
	Vehicles	10
	Office Equipment	10

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Land & buildings	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
Additions	80,000	13,450	364	93,814
At 30 September 24	80,000	13,450	364	93,814
Depreciation and impairment
Charge for year	4,000	1,345	36	5,381
At 30 September 24	4,000	1,345	36	5,381
Net book value
At 30 September 24	76,000	12,105	328	88,433
At 30 September 23	-	-	-	-

4.	Investment property


		£
	Fair value at 01 October 23	10
	At 30 September 24	10

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Other debtors	4,598	242,150
Total	4,598	242,150

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	2,249	2,249
Taxation and social security	11,522	22,090
Other creditors	-	48,822
Accrued liabilities and deferred income	1,500	1,500
Total	15,271	74,661

7.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
LEES, Nadia Meadhbh	0	388	0	388
	0	388	0	388