Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.182022-04-01No description of principal activity18falsetrue 04511450 2022-04-01 2023-03-31 04511450 2021-04-01 2022-03-31 04511450 2023-03-31 04511450 2022-03-31 04511450 c:Director1 2022-04-01 2023-03-31 04511450 d:PlantMachinery 2022-04-01 2023-03-31 04511450 d:PlantMachinery 2023-03-31 04511450 d:PlantMachinery 2022-03-31 04511450 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04511450 d:MotorVehicles 2022-04-01 2023-03-31 04511450 d:MotorVehicles 2023-03-31 04511450 d:MotorVehicles 2022-03-31 04511450 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04511450 d:OfficeEquipment 2022-04-01 2023-03-31 04511450 d:OfficeEquipment 2023-03-31 04511450 d:OfficeEquipment 2022-03-31 04511450 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04511450 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04511450 d:CurrentFinancialInstruments 2023-03-31 04511450 d:CurrentFinancialInstruments 2022-03-31 04511450 d:Non-currentFinancialInstruments 2023-03-31 04511450 d:Non-currentFinancialInstruments 2022-03-31 04511450 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04511450 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04511450 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04511450 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 04511450 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 04511450 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 04511450 d:ShareCapital 2023-03-31 04511450 d:ShareCapital 2022-03-31 04511450 d:RetainedEarningsAccumulatedLosses 2023-03-31 04511450 d:RetainedEarningsAccumulatedLosses 2022-03-31 04511450 c:FRS102 2022-04-01 2023-03-31 04511450 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04511450 c:FullAccounts 2022-04-01 2023-03-31 04511450 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04511450 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 04511450 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 04511450 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 04511450 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 04511450









LAKESIDE WINDOW SYSTEMS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
LAKESIDE WINDOW SYSTEMS LTD
REGISTERED NUMBER: 04511450

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
44,085
60,919

  
44,085
60,919

Current assets
  

Stocks
 5 
293,000
172,500

Debtors: amounts falling due within one year
 6 
132,016
101,741

Cash at bank and in hand
 7 
3,834
5,865

  
428,850
280,106

Creditors: amounts falling due within one year
 8 
(313,115)
(200,813)

Net current assets
  
 
 
115,735
 
 
79,293

Total assets less current liabilities
  
159,820
140,212

Creditors: amounts falling due after more than one year
 9 
(12,500)
(42,500)

Provisions for liabilities
  

Deferred tax
  
(8,385)
(9,415)

  
 
 
(8,385)
 
 
(9,415)

Net assets
  
138,935
88,297


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
138,933
88,295

  
138,935
88,297


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

Page 1

 
LAKESIDE WINDOW SYSTEMS LTD
REGISTERED NUMBER: 04511450
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 November 2023.




Phillip Charles Nichols
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LAKESIDE WINDOW SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Lakeside Window Systems Ltd 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The presentation currency of the financial statements is the pound sterling (£). Monetary amounts in these financial statements are shown to the nearest pound .

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
LAKESIDE WINDOW SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
LAKESIDE WINDOW SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing Balance Basis
Motor vehicles
-
25%
Reducing Balance Basis
Office equipment
-
15%
Straight Line Basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
LAKESIDE WINDOW SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
LAKESIDE WINDOW SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
18
18


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
91,698
57,242
15,304
164,244


Disposals
-
(29,062)
-
(29,062)



At 31 March 2023

91,698
28,180
15,304
135,182



Depreciation


At 1 April 2022
53,174
36,098
14,054
103,326


Charge for the year on owned assets
9,632
3,041
1,250
13,923


Disposals
-
(26,152)
-
(26,152)



At 31 March 2023

62,806
12,987
15,304
91,097



Net book value



At 31 March 2023
28,892
15,193
-
44,085



At 31 March 2022
38,524
21,144
1,251
60,919


5.


Stocks

2023
2022
£
£

Raw materials and consumables
99,000
103,500

Finished goods and goods for resale
194,000
69,000

293,000
172,500


Page 7

 
LAKESIDE WINDOW SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
39,243
9,741

Other debtors
92,773
92,000

132,016
101,741



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,834
5,865

3,834
5,865



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
30,000
30,000

Trade creditors
233,104
96,919

Corporation tax
20,200
19,843

Other taxation and social security
16,613
26,887

Obligations under finance lease and hire purchase contracts
8,054
19,536

Other creditors
2,252
5,315

Accruals and deferred income
2,892
2,313

313,115
200,813



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
12,500
42,500

12,500
42,500


Page 8

 
LAKESIDE WINDOW SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
30,000
30,000


30,000
30,000


Amounts falling due 2-5 years

Bank loans
12,500
42,500


12,500
42,500


42,500
72,500



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
8,056
11,480

Between 1-5 years
-
8,056

8,056
19,536


12.


Pension commitments

The company operates a defined contribution pension scheme. Contributions payable to the company's pension shceme are charged to profit or loss in the period to which they relate.

 
Page 9