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Registration number: 11386119

Lakeview Company Ne Limited

trading as Lakeview Company NE Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2023

 

Lakeview Company Ne Limited

trading as Lakeview Company NE Limited

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Lakeview Company Ne Limited

trading as Lakeview Company NE Limited

Company Information

Directors

Mr Martyn Lake

Laura Dorn

Company secretary

Mrs Nicola Lavery

Laura Dorn

Registered office

5 Chiltons Avenue
Billingham
Co Durham
TS23 1JE

Accountants

Beaumont Accountancy Services
1st Floor
Enterprise House
202-206 Linthorpe Road
Middlesbrough
TS1 3QW

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lakeview Company Ne Limited

trading as Lakeview Company NE Limited
for the Year Ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lakeview Company Ne Limited for the year ended 31 May 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that Lakeview Company Ne Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lakeview Company Ne Limited. You consider that Lakeview Company Ne Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Lakeview Company Ne Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Beaumont Accountancy Services
1st Floor
Enterprise House
202-206 Linthorpe Road
Middlesbrough
TS1 3QW

5 March 2024

 

Lakeview Company Ne Limited

trading as Lakeview Company NE Limited

(Registration number: 11386119)
Abridged Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

90,750

20,765

Current assets

 

Debtors

5

225,707

90

Cash at bank and in hand

 

26,733

86,767

 

252,440

86,857

Creditors: Amounts falling due within one year

(94,081)

(46,760)

Net current assets

 

158,359

40,097

Total assets less current liabilities

 

249,109

60,862

Creditors: Amounts falling due after more than one year

(15,417)

(20,417)

Accruals and deferred income

 

(700)

(964)

Net assets

 

232,992

39,481

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

232,991

39,480

Shareholders' funds

 

232,992

39,481

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 March 2024 and signed on its behalf by:
 

 

Lakeview Company Ne Limited

trading as Lakeview Company NE Limited

(Registration number: 11386119)
Abridged Balance Sheet as at 31 May 2023

.........................................
Mr Martyn Lake
Director

 

Lakeview Company Ne Limited

trading as Lakeview Company NE Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5 Chiltons Avenue
Billingham
Co Durham
TS23 1JE
United Kingdom

These financial statements were authorised for issue by the Board on 5 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Lakeview Company Ne Limited

trading as Lakeview Company NE Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% per annum on reducing balance

Tools and equipment

25% per annum on reducing balance

Office equipment

25% per annum on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Lakeview Company Ne Limited

trading as Lakeview Company NE Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2022 - 4).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

-

37,414

37,414

Additions

75,000

348

75,348

At 31 May 2023

75,000

37,762

112,762

Depreciation

At 1 June 2022

-

16,649

16,649

Charge for the year

-

5,363

5,363

At 31 May 2023

-

22,012

22,012

Carrying amount

At 31 May 2023

75,000

15,750

90,750

At 31 May 2022

-

20,765

20,765

Included within the net book value of land and buildings above is £75,000 (2022 - £Nil) in respect of freehold land and buildings.
 

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

ordinary share of £1 each

1

1

1

1

         

7

Related party transactions

 

Lakeview Company Ne Limited

trading as Lakeview Company NE Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

8,757

8,424