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REGISTERED NUMBER: 08914477 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

LAKES LOOS LTD

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LAKES LOOS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Mr D Coxon



REGISTERED OFFICE: Unit W Main Line Industrial Estate
Crooklands Road
Ackenthwaite
Milnthorpe
Cumbria
LA7 7LR



REGISTERED NUMBER: 08914477 (England and Wales)



BANKERS: Barclays Bank plc
86-88 Dalton Road
Barrow in Furness
Cumbria
LA14 1JF

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

ABRIDGED BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 446,988 370,568

CURRENT ASSETS
Debtors 99,830 117,689
Cash at bank 45,425 59,838
145,255 177,527
CREDITORS
Amounts falling due within one year 95,677 104,557
NET CURRENT ASSETS 49,578 72,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

496,566

443,538

CREDITORS
Amounts falling due after more than one
year

57,292

61,877
NET ASSETS 439,274 381,661

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 439,273 381,660
SHAREHOLDERS' FUNDS 439,274 381,661

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

ABRIDGED BALANCE SHEET - continued
28 FEBRUARY 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 30 October 2023 and were signed by:





Mr D Coxon - Director


LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Lakes Loos 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover represents net invoiced sales of goods and services, excluding VAT.

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.
Improvements to property - 10% on cost
Plant and machinery - 25% on cost and 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022 740,409
Additions 233,330
Disposals (62,664 )
At 28 February 2023 911,075
DEPRECIATION
At 1 March 2022 369,841
Charge for year 118,943
Eliminated on disposal (24,697 )
At 28 February 2023 464,087
NET BOOK VALUE
At 28 February 2023 446,988
At 28 February 2022 370,568

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 March 2022 125,986
Additions 28,144
Transfer to ownership (53,067 )
At 28 February 2023 101,063
DEPRECIATION
At 1 March 2022 70,000
Charge for year 15,412
Transfer to ownership (40,791 )
At 28 February 2023 44,621
NET BOOK VALUE
At 28 February 2023 56,442
At 28 February 2022 55,986

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
28.2.23 28.2.22
as restated
£    £   
Net obligations repayable:
Within one year 14,961 13,266
Between one and five years 35,189 29,490
50,150 42,756

Non-cancellable operating leases
28.2.23 28.2.22
as restated
£    £   
Within one year 30,000 -
Between one and five years 120,000 -
In more than five years 122,500 -
272,500 -

6. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
as restated
£    £   
Hire purchase contracts 50,150 42,756

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: as restated
£    £   
100 Ordinary 1p 1 1

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
as restated
£    £   
Mr D Coxon
Balance outstanding at start of year 72,874 87,727
Amounts advanced 63,642 72,874
Amounts repaid (72,874 ) (87,727 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 63,642 72,874

During the financial year the director was charged £1,300 (2022: £1,607) interest on the loan which is unsecured and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D Coxon.