Registered number: 07199376 | ||||||||
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 | ||||||||
REGISTERED OFFICE | ||||||||
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 Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
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 | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
182,618 | 186,644 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT ASSETS | 90,691 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 6 | 77,370 | 33,333 | |||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | ||||||||||
Profit and loss account | 106,354 | 97,799 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
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 | ||||||||
Plant and Machinery | reducing balance 25% | |||||||
Computer Equipment | reducing balance 25% | |||||||
Motor Vehicles | reducing 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 and | Computer | |||||||
Machinery | Equipment | Motor Vehicles | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 01/04/2022 | 170,964 | 3,390 | 11,000 | 185,354 | ||||
Additions | 90,644 | - | - | 90,644 | ||||
At 31/03/2023 | 261,608 | 3,390 | 11,000 | 275,998 | ||||
Depreciation | ||||||||
At 01/04/2022 | 131,935 | 2,979 | 9,899 | 144,813 | ||||
For the year | 32,418 | 103 | 275 | 32,796 | ||||
At 31/03/2023 | 164,353 | 3,082 | 10,174 | 177,609 | ||||
Net Book Amounts | ||||||||
At 31/03/2023 | 97,255 | 308 | 826 | 98,389 | ||||
At 31/03/2022 | 39,029 | 411 | 1,101 | 40,541 | ||||
3. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
4. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 38,685 | 38,866 | ||||||
Directors current account - C I Dalgleish | - | 40,800 | ||||||
Directors current account - J Menery | 81,559 | 29,201 | ||||||
120,244 | 108,867 | |||||||
Lakeland Granite Limited | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
UK corporation tax | 24,346 | 35,999 | ||||||
VAT | 6,326 | 10,156 | ||||||
Other taxation and social security creditors | 3,489 | 1,416 | ||||||
Bank loans <1yr | 26,086 | 10,000 | ||||||
Trade creditors | 33,896 | 35,502 | ||||||
Accruals | 3,040 | 2,880 | ||||||
97,183 | 95,953 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans >1yr | 77,370 | 33,333 | ||||||
77,370 | 33,333 | |||||||
7. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 3 | |||||
8. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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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. | ||||||||