58 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 120,000 78,500 6,000 84,500 35,500 41,500 xbrli:pure xbrli:shares iso4217:GBP 07021656 2022-12-01 2023-11-30 07021656 2023-11-30 07021656 2022-11-30 07021656 2021-12-01 2022-11-30 07021656 2022-11-30 07021656 2021-11-30 07021656 core:NetGoodwill 2022-12-01 2023-11-30 07021656 core:LandBuildings core:LongLeaseholdAssets 2022-12-01 2023-11-30 07021656 core:PlantMachinery 2022-12-01 2023-11-30 07021656 core:MotorVehicles 2022-12-01 2023-11-30 07021656 bus:Director1 2022-12-01 2023-11-30 07021656 bus:Director2 2022-12-01 2023-11-30 07021656 core:NetGoodwill 2022-11-30 07021656 core:NetGoodwill 2023-11-30 07021656 core:LandBuildings 2022-11-30 07021656 core:PlantMachinery 2022-11-30 07021656 core:MotorVehicles 2022-11-30 07021656 core:LandBuildings 2023-11-30 07021656 core:PlantMachinery 2023-11-30 07021656 core:MotorVehicles 2023-11-30 07021656 core:LandBuildings 2022-12-01 2023-11-30 07021656 core:WithinOneYear 2023-11-30 07021656 core:WithinOneYear 2022-11-30 07021656 core:AfterOneYear 2023-11-30 07021656 core:AfterOneYear 2022-11-30 07021656 core:ShareCapital 2023-11-30 07021656 core:ShareCapital 2022-11-30 07021656 core:RetainedEarningsAccumulatedLosses 2023-11-30 07021656 core:RetainedEarningsAccumulatedLosses 2022-11-30 07021656 core:NetGoodwill 2022-11-30 07021656 core:LandBuildings 2022-11-30 07021656 core:PlantMachinery 2022-11-30 07021656 core:MotorVehicles 2022-11-30 07021656 bus:SmallEntities 2022-12-01 2023-11-30 07021656 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07021656 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07021656 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07021656 bus:FullAccounts 2022-12-01 2023-11-30 07021656 core:ComputerEquipment 2022-12-01 2023-11-30 07021656 core:ComputerEquipment 2022-11-30 07021656 core:ComputerEquipment 2023-11-30
COMPANY REGISTRATION NUMBER: 07021656
LAKEBEECH LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 November 2023
LAKEBEECH LTD
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
35,500
41,500
Tangible assets
6
117,210
146,121
---------
---------
152,710
187,621
CURRENT ASSETS
Stocks
93,288
70,986
Debtors
7
225,520
263,830
Cash at bank and in hand
1,064
---------
---------
318,808
335,880
CREDITORS: amounts falling due within one year
8
( 355,692)
( 328,384)
---------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 36,884)
7,496
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
115,826
195,117
CREDITORS: amounts falling due after more than one year
9
( 88,274)
( 133,735)
PROVISIONS
Taxation including deferred tax
( 17,793)
( 22,866)
---------
---------
NET ASSETS
9,759
38,516
---------
---------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
9,757
38,514
-------
--------
SHAREHOLDERS FUNDS
9,759
38,516
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
LAKEBEECH LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
For the year ending 30 November 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
I Manfredi
A Manfredi
Director
Director
Company registration number: 07021656
LAKEBEECH LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cragg Road Works, Cragg Road, Mytholmroyd, Hebden Bridge, HX7 5HR.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
The financial statements have also been prepared on the going concern basis.The directors consider the going concern basis to be appropriate as they have confirmed their ongoing support.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises of revenue recognised by the company in respect of goods and services recognised, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property Improvements
-
5% straight line
Plant and Machinery
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Computer Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 58 (2022: 48 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
120,000
---------
Amortisation
At 1 December 2022
78,500
Charge for the year
6,000
---------
At 30 November 2023
84,500
---------
Carrying amount
At 30 November 2023
35,500
---------
At 30 November 2022
41,500
---------
6. TANGIBLE ASSETS
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 December 2022
44,213
88,770
386,625
52,105
571,713
Additions
379
379
--------
--------
---------
--------
---------
At 30 November 2023
44,213
88,770
386,625
52,484
572,092
--------
--------
---------
--------
---------
Depreciation
At 1 December 2022
18,438
57,632
297,417
52,105
425,592
Charge for the year
2,210
4,670
22,303
107
29,290
--------
--------
---------
--------
---------
At 30 November 2023
20,648
62,302
319,720
52,212
454,882
--------
--------
---------
--------
---------
Carrying amount
At 30 November 2023
23,565
26,468
66,905
272
117,210
--------
--------
---------
--------
---------
At 30 November 2022
25,775
31,138
89,208
146,121
--------
--------
---------
--------
---------
7. DEBTORS
2023
2022
£
£
Trade debtors
826
10,692
Amounts owed by group undertakings and undertakings in which the company has a participating interest
5,440
Other debtors
219,254
253,138
---------
---------
225,520
263,830
---------
---------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
65,824
107,689
Trade creditors
162,968
71,900
Social security and other taxes
66,972
34,256
Other creditors
173
40,019
Amounts due to related companies
35,920
Other creditors
59,755
38,600
---------
---------
355,692
328,384
---------
---------
9. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
67,732
133,735
Other creditors
20,542
--------
---------
88,274
133,735
--------
---------