Lee Atkins Limited - Accounts to registrar (filleted) - small 18.2

Lee Atkins Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 09309281(England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

LEE ATKINS LIMITED

LEE ATKINS LIMITED (REGISTERED NUMBER: 09309281)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEE ATKINS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2019







DIRECTORS: Mr L J Atkins
Mrs M V Atkins





REGISTERED OFFICE: Unit 4F
Racemeadow Road
Carlyon Road Ind Estate
Atherstone
Warwickshire
CV9 1LJ





REGISTERED NUMBER: 09309281(England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

LEE ATKINS LIMITED (REGISTERED NUMBER: 09309281)

BALANCE SHEET
30 NOVEMBER 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,448 14,844
Property, plant and equipment 5 152,200 181,961
159,648 196,805

CURRENT ASSETS
Inventories 34,320 33,504
Debtors 6 423,537 340,711
Cash at bank and in hand 30,464 20,882
488,321 395,097
CREDITORS
Amounts falling due within one year 7 278,267 244,917
NET CURRENT ASSETS 210,054 150,180
TOTAL ASSETS LESS CURRENT
LIABILITIES

369,702

346,985

CREDITORS
Amounts falling due after more than one year 8 (31,501 ) (71,166 )

PROVISIONS FOR LIABILITIES (28,918 ) (39,566 )
NET ASSETS 309,283 236,253

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 309,183 236,153
SHAREHOLDERS' FUNDS 309,283 236,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LEE ATKINS LIMITED (REGISTERED NUMBER: 09309281)

BALANCE SHEET - continued
30 NOVEMBER 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2020and were signed on its behalf by:





Mr L J Atkins- Director


LEE ATKINS LIMITED (REGISTERED NUMBER: 09309281)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019

1. STATUTORY INFORMATION

Lee Atkins 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.

The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Turnover
Turnover represents revenue recognised by the company in respect of goods and services supplied during the period, excluding value added tax.

Goodwill
Acquired goodwill is written off in equal instalments over its estimated useful economic life.

Franchise fee
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fees are being amortised evenly over their estimated useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% reducing balance
Fixtures and fittings - 20% reducing balance
Motor vehicles - 20% reducing balance
Computer equipment - 33% 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

LEE ATKINS LIMITED (REGISTERED NUMBER: 09309281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2019

3. EMPLOYEES

The average number of employees during the year was 9(2018 - 8) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 December 2018
and 30 November 2019 44,031 12,500 56,531
AMORTISATION
At 1 December 2018 36,687 5,000 41,687
Charge for year 4,896 2,500 7,396
At 30 November 2019 41,583 7,500 49,083
NET BOOK VALUE
At 30 November 2019 2,448 5,000 7,448
At 30 November 2018 7,344 7,500 14,844

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2018 24,200 797 259,943 10,219 295,159
Additions - 3,659 - 4,277 7,936
At 30 November 2019 24,200 4,456 259,943 14,496 303,095
DEPRECIATION
At 1 December 2018 12,869 471 93,799 6,059 113,198
Charge for year 2,267 589 33,230 1,611 37,697
At 30 November 2019 15,136 1,060 127,029 7,670 150,895
NET BOOK VALUE
At 30 November 2019 9,064 3,396 132,914 6,826 152,200
At 30 November 2018 11,331 326 166,144 4,160 181,961

LEE ATKINS LIMITED (REGISTERED NUMBER: 09309281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2019

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2018
and 30 November 2019 19,200 246,959 266,159
DEPRECIATION
At 1 December 2018 11,336 87,986 99,322
Charge for year 1,573 31,795 33,368
At 30 November 2019 12,909 119,781 132,690
NET BOOK VALUE
At 30 November 2019 6,291 127,178 133,469
At 30 November 2018 7,864 158,973 166,837

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 319,076 278,650
Other debtors 104,461 62,061
423,537 340,711

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Hire purchase contracts 39,665 40,428
Trade creditors 122,509 122,263
Taxation and social security 94,574 50,960
Other creditors 21,519 31,266
278,267 244,917

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2019 2018
£    £   
Hire purchase contracts 31,501 71,166

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
100 Ordinary £1 100 100

LEE ATKINS LIMITED (REGISTERED NUMBER: 09309281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2019

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is an amount of £89,023 (2018: £51,236) due from directors. Interest has been charged at the official rate.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr L J Atkins.