07199376falsethe supply of granite work surfaces2022-04-012023-03-31http://www.companieshouse.gov.uk/2022-03-31http://www.companieshouse.gov.uk/pt:ShareCapital2022-03-31http://www.companieshouse.gov.uk/cd:Director12022-04-012023-03-31http://www.companieshouse.gov.uk/pt:ShareCapital2023-03-31http://www.companieshouse.gov.uk/cd:Director22022-04-012023-03-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2022-04-012023-03-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2022-04-012023-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-03-31http://www.companieshouse.gov.uk/2022-04-012023-03-31http://www.companieshouse.gov.uk/2022-03-31http://www.companieshouse.gov.uk/cd:FRS1022022-04-012023-03-31http://www.companieshouse.gov.uk/2023-03-31http://www.companieshouse.gov.uk/cd:FullAccounts2022-04-012023-03-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2022-04-012023-03-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 07199376

Lakeland Granite Limited

ACCOUNTS
FOR THE YEAR ENDED 31/03/2023

Prepared By:
N B Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN

Lakeland Granite Limited

ACCOUNTS
FOR THE YEAR ENDED 31/03/2023
DIRECTORS
C I Dalgleish (resigned 12/05/2022)
J Menery
REGISTERED OFFICE
6 Brunswick Street
Carlisle
CA1 1PN
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07199376
BANKERS
Barclays Bank Plc
ACCOUNTANTS
N B Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN

Lakeland Granite Limited

ACCOUNTS
FOR THEYEARENDED31/03/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Lakeland Granite Limited

BALANCE SHEET AT 31/03/2023
20232022
Notes££
FIXED ASSETS
Tangible assets298,38940,541
CURRENT ASSETS
Stock10,1008,300
Debtors4120,244108,867
Cash at bank and in hand52,27469,477
182,618186,644
CREDITORS: Amounts falling due within one year597,18395,953
NET CURRENT ASSETS85,43590,691
TOTAL ASSETS LESS CURRENT LIABILITIES183,824131,232
CREDITORS: Amounts falling due after more than one year677,37033,333
NET ASSETS106,45497,899
CAPITAL AND RESERVES
Called up share capital100100
Profit and loss account106,35497,799
SHAREHOLDERS' FUNDS106,45497,899
For the year ending 31/03/2023 the company was entitled to exemption 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 directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 22/08/2023 and signed on their behalf by
.............................
J Menery
Director

Lakeland Granite Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 25%
Computer Equipmentreducing balance 25%
Motor Vehiclesreducing balance 25%
1c. Stocks
Stocks are valued at the lower of cost and net estimated selling price less selling costs. Cost is based on average cost. For work in progress, cost is taken as the production cost which includes a proportion of attributable overheads.
1d. Government Grants
Government and other grants providing immediate financial assistance are recognised in profit and loss in the year in which they are received.
1e. Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
1f. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. Turnover is recognised upon the despatch of goods and on the provision of services.

Lakeland Granite Limited

2. TANGIBLE FIXED ASSETS
Plant andComputer
MachineryEquipmentMotor VehiclesTotal
££££
Cost
At 01/04/2022170,9643,39011,000185,354
Additions90,644--90,644
At 31/03/2023261,6083,39011,000275,998
Depreciation
At 01/04/2022131,9352,9799,899144,813
For the year32,41810327532,796
At 31/03/2023164,3533,08210,174177,609
Net Book Amounts
At 31/03/202397,25530882698,389
At 31/03/202239,0294111,10140,541
3. STOCK 20232022
££
Stock comprises:
Stock10,1008,300
10,1008,300
4. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors38,68538,866
Directors current account - C I Dalgleish-40,800
Directors current account - J Menery81,55929,201
120,244108,867

Lakeland Granite Limited

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax24,34635,999
VAT6,32610,156
Other taxation and social security creditors3,4891,416
Bank loans <1yr26,08610,000
Trade creditors33,89635,502
Accruals3,0402,880
97,18395,953
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans >1yr77,37033,333
77,37033,333
7. EMPLOYEES
20232022
No.No.
Average number of employees23
8. RELATED PARTY TRANSACTIONS
During the year total salaries of £10,612 (2022 - £17,688) were paid to the directors.
Total dividends of £90,000 (2022 - £80,000) were paid to the directors during the year.
At the balance sheet date the director owed £81,559 to the company, (2022 - £70,001). The loans are unsecured, interest free and repayable on demand.
9. ADDITIONAL INFORMATION
The company is a private company, limited by shares and registered in England & Wales.
The company's registered number is 07199376.
The company's registered office is 6 Brunswick Street, Carlisle, Cumbria, CA1 1PN.
10. TRANSACTIONS WITH DIRECTORS
At 1 April 2022 loans of £40,800 and £29,201 were owed to the company by the directors which were repaid in full. During the year, advances of £154,284 and £127,596 were made to the directors which remain outstanding at the balance sheet date. The loans are interest free, unsecured and repayable on demand.