Lee Lewis Electrical Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08162290 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

FOR

LEE LEWIS ELECTRICAL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

L Lewis

REGISTERED OFFICE:

11 Trinity Street

Bungay

Suffolk

NR35 1EH

REGISTERED NUMBER:

08162290 (England and Wales)

ACCOUNTANTS:

van Dijk Accountants

11 Trinity Street

Bungay

Suffolk

NR35 1EH

FIXED ASSETS

Property, plant and equipment

4

81,930

31,002

CURRENT ASSETS

Inventories

4,000

2,500

Debtors

5

103,905

88,930

Cash at bank

638

16,790

108,543

108,220

CREDITORS

Amounts falling due within one year

6

130,197

87,341

NET CURRENT (LIABILITIES)/ASSETS

(21,654

)

20,879

TOTAL ASSETS LESS CURRENT LIABILITIES

60,276

51,881

CREDITORS

Amounts falling due after more than one year

7

(24,697

)

(3,455

)

PROVISIONS FOR LIABILITIES

-

(5,890

)

NET ASSETS

35,579

42,536

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

34,579

41,536

SHAREHOLDERS' FUNDS

35,579

42,536

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 10 December 2019 and were signed by:

L Lewis - Director

1.	STATUTORY INFORMATION

Lee Lewis Electrical Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 6 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 September 2018

23,453

66,020

89,473

Additions

3,942

68,090

72,032

Disposals

-

(18,095

)

(18,095

)

At 31 August 2019

27,395

116,015

143,410

DEPRECIATION

At 1 September 2018

13,021

45,450

58,471

Charge for year

1,841

10,363

12,204

Eliminated on disposal

-

(9,195

)

(9,195

)

At 31 August 2019

14,862

46,618

61,480

NET BOOK VALUE

At 31 August 2019

12,533

69,397

81,930

At 31 August 2018

10,432

20,570

31,002

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade debtors

99,072

82,184

Other debtors

3,184

5,849

Prepayments

1,649

897

103,905

88,930

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Bank loans and overdrafts

13,509

22,233

Hire purchase contracts

8,540

9,203

Trade creditors

22,018

19,743

Tax

-

9,389

VAT

17,574

10,239

Other creditors

-

5,000

Directors' current accounts

47,930

9,703

Accrued expenses

20,626

1,831

130,197

87,341

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.19

31.8.18

£

£

Hire purchase contracts

24,697

3,455

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 August 2019 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

van Dijk Accountants

11 Trinity Street

Bungay

Suffolk

NR35 1EH

10 December 2019