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Registered number: 04902692
Lakeview Property Maintenance Limited
Unaudited Financial Statements
For The Year Ended 30 September 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04902692
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 355,145 294,367
355,145 294,367
CURRENT ASSETS
Debtors 5 551,347 582,087
Cash at bank and in hand 10,256 2,599
561,603 584,686
Creditors: Amounts Falling Due Within One Year 6 (503,439 ) (504,850 )
NET CURRENT ASSETS (LIABILITIES) 58,164 79,836
TOTAL ASSETS LESS CURRENT LIABILITIES 413,309 374,203
Creditors: Amounts Falling Due After More Than One Year 7 (63,552 ) (42,542 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (42,506 ) (28,932 )
NET ASSETS 307,251 302,729
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 307,249 302,727
SHAREHOLDERS' FUNDS 307,251 302,729
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For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Tony Billingham
Director
08/04/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Lakeview Property Maintenance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04902692 . The registered office is Unit 2 Edison Close, Park Farm Industrial Estate, Wellingborough, Northants, NN8 6AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 4% SL
Plant & Machinery 25% RB
Motor Vehicles 25% RB
Fixtures & Fittings 20% SL
Computer Equipment 25% RB
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 5 5
Sales, marketing and distribution 18 15
23 20
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 October 2022 266,723 118,042 270,423 17,962
Additions - 15,335 113,335 -
Disposals - - (23,864 ) -
As at 30 September 2023 266,723 133,377 359,894 17,962
Depreciation
As at 1 October 2022 124,627 89,821 153,110 17,962
Provided during the period 10,669 - 41,980 9,139
Disposals - - (19,112 ) -
As at 30 September 2023 135,296 89,821 175,978 27,101
Net Book Value
As at 30 September 2023 131,427 43,556 183,916 (9,139 )
As at 1 October 2022 142,096 28,221 117,313 -
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Computer Equipment Total
£ £
Cost
As at 1 October 2022 37,516 710,666
Additions 355 129,025
Disposals - (23,864 )
As at 30 September 2023 37,871 815,827
Depreciation
As at 1 October 2022 30,779 416,299
Provided during the period 1,707 63,495
Disposals - (19,112 )
As at 30 September 2023 32,486 460,682
Net Book Value
As at 30 September 2023 5,385 355,145
As at 1 October 2022 6,737 294,367
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 483,443 414,884
Prepayments and accrued income 6,904 29,636
Other debtors 61,000 137,567
551,347 582,087
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 55,812 35,281
Trade creditors 252,052 251,435
Bank loans and overdrafts 18,332 -
Corporation tax 42,486 53,468
Other taxes and social security 17,169 35,229
VAT 108,599 102,987
Net wages 33 36
Pension fund 3,347 2,581
Credit Card (1 ) 3
Premium Credit - 8,923
Accruals and deferred income 5,610 14,907
503,439 504,850
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 63,552 42,542
63,552 42,542
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 55,812 35,281
Later than one year and not later than five years 63,552 42,542
119,364 77,823
119,364 77,823
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
LPM Property Rentals LimitedTony Billiingham is sole Director for both companiesAs at the balance sheet date LPM Property Rentals Ltd owed Lakeview Property Maintenance Ltd the sum of £67,121 (2020 £67,121). This loan carries no interest and is not repayable on demand

LPM Property Rentals Limited

Tony Billiingham is sole Director for both companies

As at the balance sheet date LPM Property Rentals Ltd owed Lakeview Property Maintenance Ltd the sum of £67,121 (2020 £67,121). This loan carries no interest and is not repayable on demand

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