Registration number:
Lee Brothers Limited
for the Year Ended 31 October 2025
Lee Brothers Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Lee Brothers Limited
Company Information
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Directors |
C. P. Lee D. R. Groves |
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Registered office |
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Accountants |
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Lee Brothers Limited
(Registration number: 06114993)
Balance Sheet as at 31 October 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investment property |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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Retained earnings |
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Shareholders' funds |
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Lee Brothers Limited
(Registration number: 06114993)
Balance Sheet as at 31 October 2025
For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Lee Brothers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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.
Going concern
The financial statements have been prepared on a going concern basis.
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 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.
Lee Brothers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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 over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Furniture, fittings and equipment |
25% reducing balance |
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Motor vehicles |
25% reducing balance |
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Plant and machinery |
25% reducing balance |
Investment property
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life.
Lee Brothers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
5% on cost |
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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
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 comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks 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 the profit and loss account.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Lee Brothers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Lee Brothers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 November 2024 |
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At 31 October 2025 |
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Amortisation |
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At 1 November 2024 |
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Amortisation charge |
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At 31 October 2025 |
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Carrying amount |
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At 31 October 2025 |
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At 31 October 2024 |
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Lee Brothers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025
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Tangible assets |
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Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost |
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At 1 November 2024 |
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Additions |
- |
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Disposals |
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At 31 October 2025 |
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Depreciation |
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At 1 November 2024 |
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Charge for the year |
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Eliminated on disposal |
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At 31 October 2025 |
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Carrying amount |
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At 31 October 2025 |
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At 31 October 2024 |
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Investment properties |
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2025 |
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At 1 November 2024 |
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Additions |
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At 31 October 2025 |
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The directors are of the opinion that the value of the properties have not changed and therefore have not been revalued at the year end.
There has been no valuation of investment properties by an independent valuer.
Lee Brothers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025
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Stocks |
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2025 |
2024 |
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Stocks |
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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- |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors include net obligations under other loans and hire purchase contracts which are secured of £140,367 (2024 - £153,440).
Lee Brothers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025
Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Creditors include net obligations under other loans and hire purchase contracts which are secured of £253,000 (2024 - £380,225).
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Hire purchase contracts |
- |
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Other borrowings |
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Current loans and borrowings
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2025 |
2024 |
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Hire purchase contracts |
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Other borrowings |
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Lee Brothers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025
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Related party transactions |
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Transactions with directors |
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2025 |
At 1 November 2024 |
Advances to director |
At 31 October 2025 |
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D. R. Groves |
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Director's loan |
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The company authorised an unsecured loan at a market rate of interest to the director and a balance of £12,210 was outstanding at the year end (2024 - £nil).