Company registration number 12742837 (England and Wales)
Lake District Woodlands Limited
Unaudited Financial Statements
For the year ended 31 July 2023
PAGES FOR FILING WITH REGISTRAR
Lake District Woodlands Limited
Contents
Page
Company information
Balance sheet
1
Notes to the financial statements
2 - 4
Lake District Woodlands Limited
Balance sheet
For the year ended 31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
27,032
29,588
Current assets
Debtors
4
6,714
-
0
Cash at bank and in hand
3,617
13,267
10,331
13,267
Creditors: amounts falling due within one year
5
(53,036)
(54,220)
Net current liabilities
(42,705)
(40,953)
Net liabilities
(15,673)
(11,365)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(15,773)
(11,465)
Total equity
(15,673)
(11,365)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 30 January 2024
Mrs T. J. Solender
Director
Company registration number 12742837 (England and Wales)
Lake District Woodlands Limited
Notes to the Financial Statements
For the year ended 31 July 2023
- 2 -
1
Accounting policies
Company information

Lake District Woodlands Limited is a private company limited by shares incorporated in England and Wales. The registered office is Rose Mount, Brow Lane, Staveley, Kendal, Cumbria, LA8 9PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line
Plant and equipment
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Lake District Woodlands Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Grant income received in relation to capital expenditure is recognised on the balance sheet as deferred income and released to the profit and loss over the useful economic life of the related capital asset.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
Lake District Woodlands Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2022
31,393
710
32,103
Additions
450
-
0
450
At 31 July 2023
31,843
710
32,553
Depreciation and impairment
At 1 August 2022
2,317
198
2,515
Depreciation charged in the year
2,941
65
3,006
At 31 July 2023
5,258
263
5,521
Carrying amount
At 31 July 2023
26,585
447
27,032
At 31 July 2022
29,076
512
29,588
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
6,714
-
0
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
53,036
54,220
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