Company No: 07995797 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Tin-Choi Stephen Lee
	Wai-Ching Rita Lee

REGISTERED OFFICE	130 Darras Road Ponteland
	Newcastle Upon Tyne
	NE20 9PG
	United Kingdom

COMPANY NUMBER

07995797 (England and Wales)

ACCOUNTANT	S&W Partners Newcastle Limited
	17 Queens Lane
	Newcastle
	NE1 1RN

	Note	2026		2025
		£		£
Fixed assets
Investment property	4	501,944		484,969
		501,944		484,969
Current assets
Debtors	5	3,693		5,828
Cash at bank and in hand		69,457		80,362
		73,150		86,190
Creditors: amounts falling due within one year	6	( 427,932)		( 432,784)
Net current liabilities		(354,782)		(346,594)
Total assets less current liabilities		147,162		138,375
Net assets		147,162		138,375
Capital and reserves
Called-up share capital		100		100
Profit and loss account		147,062		138,275
Total shareholders' funds		147,162		138,375

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Lee Developments (North East) Ltd (registered number: 07995797) were approved and authorised for issue by the Board of Directors on 14 September 2026. They were signed on its behalf by:

Tin-Choi Stephen Lee Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lee Developments (North East) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 130 Darras Road Ponteland, Newcastle Upon Tyne, NE20 9PG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Lee Developments (North East) Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Turnover

Turnover represents rents and service charges receivable in the period, excluding value added tax. Payments received under operating leases are recognised as income over the lease term on a straight line basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
A deferred taxation asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of the current and previous period.

Deferred taxation arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred taxation is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that the directors consider that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred taxation 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 differences.

Tangible fixed assets

Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Computer equipment

3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit and loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investment property

Investment property is included at fair value. Gains and losses arising from changes in fair value are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Computer equipment		Total
	£		£
Cost
At 01 April 2025	688		688
At 31 March 2026	688		688
Accumulated depreciation
At 01 April 2025	688		688
At 31 March 2026	688		688
Net book value
At 31 March 2026	0		0
At 31 March 2025	0		0

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2025	484,969
Additions	16,975
As at 31 March 2026	501,944

The fair value of the property at 31 March 2026 has been arrived at on the basis of a valuation carried out by the directors who are not professionally qualified valuers. The valuation, was arrived at by reference to market evidence of transaction prices for similar properties in its location.

5. Debtors

	2026		2025
	£		£
Trade debtors	0		1,524
Other debtors	3,693		4,304
	3,693		5,828

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	0		5,440
Taxation and social security	2,422		3,297
Other creditors	425,510		424,047
	427,932		432,784