2023-01-012023-12-312023-12-31false02739468Lakeside Inns Limited2024-09-1155100iso4217:GBPxbrli:pure027394682023-01-01027394682023-12-31027394682023-01-012023-12-31027394682022-01-01027394682022-12-31027394682022-01-012022-12-3102739468bus:SmallEntities2023-01-012023-12-3102739468bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3102739468bus:FullAccounts2023-01-012023-12-3102739468bus:PrivateLimitedCompanyLtd2023-01-012023-12-3102739468core:WithinOneYear2023-12-3102739468core:AfterOneYear2023-12-3102739468core:WithinOneYear2022-12-3102739468core:AfterOneYear2022-12-3102739468core:ShareCapital2023-12-3102739468core:SharePremium2023-12-3102739468core:RevaluationReserve2023-12-3102739468core:OtherReservesSubtotal2023-12-3102739468core:RetainedEarningsAccumulatedLosses2023-12-3102739468core:ShareCapital2022-12-3102739468core:SharePremium2022-12-3102739468core:RevaluationReserve2022-12-3102739468core:OtherReservesSubtotal2022-12-3102739468core:RetainedEarningsAccumulatedLosses2022-12-3102739468core:LandBuildings2023-12-3102739468core:PlantMachinery2023-12-3102739468core:Vehicles2023-12-3102739468core:FurnitureFittings2023-12-3102739468core:OfficeEquipment2023-12-3102739468core:NetGoodwill2023-12-3102739468core:IntangibleAssetsOtherThanGoodwill2023-12-3102739468core:ListedExchangeTraded2023-12-3102739468core:UnlistedNon-exchangeTraded2023-12-3102739468core:LandBuildings2022-12-3102739468core:PlantMachinery2022-12-3102739468core:Vehicles2022-12-3102739468core:FurnitureFittings2022-12-3102739468core:OfficeEquipment2022-12-3102739468core:NetGoodwill2022-12-3102739468core:IntangibleAssetsOtherThanGoodwill2022-12-3102739468core:ListedExchangeTraded2022-12-3102739468core:UnlistedNon-exchangeTraded2022-12-3102739468core:LandBuildings2023-01-012023-12-3102739468core:PlantMachinery2023-01-012023-12-3102739468core:Vehicles2023-01-012023-12-3102739468core:FurnitureFittings2023-01-012023-12-3102739468core:OfficeEquipment2023-01-012023-12-3102739468core:NetGoodwill2023-01-012023-12-3102739468core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3102739468core:ListedExchangeTraded2023-01-012023-12-3102739468core:UnlistedNon-exchangeTraded2023-01-012023-12-3102739468core:MoreThanFiveYears2023-01-012023-12-3102739468core:Non-currentFinancialInstruments2023-12-3102739468core:Non-currentFinancialInstruments2022-12-3102739468dpl:CostSales2023-01-012023-12-3102739468dpl:DistributionCosts2023-01-012023-12-3102739468core:LandBuildings2023-01-012023-12-3102739468core:PlantMachinery2023-01-012023-12-3102739468core:Vehicles2023-01-012023-12-3102739468core:FurnitureFittings2023-01-012023-12-3102739468core:OfficeEquipment2023-01-012023-12-3102739468dpl:AdministrativeExpenses2023-01-012023-12-3102739468core:NetGoodwill2023-01-012023-12-3102739468core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3102739468dpl:GroupUndertakings2023-01-012023-12-3102739468dpl:ParticipatingInterests2023-01-012023-12-3102739468dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3102739468core:ListedExchangeTraded2023-01-012023-12-3102739468dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3102739468core:UnlistedNon-exchangeTraded2023-01-012023-12-3102739468dpl:CostSales2022-01-012022-12-3102739468dpl:DistributionCosts2022-01-012022-12-3102739468core:LandBuildings2022-01-012022-12-3102739468core:PlantMachinery2022-01-012022-12-3102739468core:Vehicles2022-01-012022-12-3102739468core:FurnitureFittings2022-01-012022-12-3102739468core:OfficeEquipment2022-01-012022-12-3102739468dpl:AdministrativeExpenses2022-01-012022-12-3102739468core:NetGoodwill2022-01-012022-12-3102739468core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3102739468dpl:GroupUndertakings2022-01-012022-12-3102739468dpl:ParticipatingInterests2022-01-012022-12-3102739468dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3102739468core:ListedExchangeTraded2022-01-012022-12-3102739468dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3102739468core:UnlistedNon-exchangeTraded2022-01-012022-12-3102739468core:NetGoodwill2023-12-3102739468core:IntangibleAssetsOtherThanGoodwill2023-12-3102739468core:LandBuildings2023-12-3102739468core:PlantMachinery2023-12-3102739468core:Vehicles2023-12-3102739468core:FurnitureFittings2023-12-3102739468core:OfficeEquipment2023-12-3102739468core:AfterOneYear2023-12-3102739468core:WithinOneYear2023-12-3102739468core:ListedExchangeTraded2023-12-3102739468core:UnlistedNon-exchangeTraded2023-12-3102739468core:ShareCapital2023-12-3102739468core:SharePremium2023-12-3102739468core:RevaluationReserve2023-12-3102739468core:OtherReservesSubtotal2023-12-3102739468core:RetainedEarningsAccumulatedLosses2023-12-3102739468core:NetGoodwill2022-12-3102739468core:IntangibleAssetsOtherThanGoodwill2022-12-3102739468core:LandBuildings2022-12-3102739468core:PlantMachinery2022-12-3102739468core:Vehicles2022-12-3102739468core:FurnitureFittings2022-12-3102739468core:OfficeEquipment2022-12-3102739468core:AfterOneYear2022-12-3102739468core:WithinOneYear2022-12-3102739468core:Liste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Lakeside Inns Limited

Registered Number
02739468
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Lakeside Inns Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

DENBY, Peter Jonathan
NICOLSON, Margaret Anne

Company Secretary

DENBY, Peter Jonathan

Registered Address

6 Station Road
Hest Bank
Lancaster
LA2 6HP

Registered Number

02739468 (England and Wales)
Lakeside Inns Limited
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets37,0009,000
Tangible assets41,830,6322,931,451
1,837,6322,940,451
Current assets
Stocks522,79219,720
Debtors6526,444513,707
Cash at bank and on hand-47,517
549,236580,944
Creditors amounts falling due within one year7(523,487)(591,823)
Net current assets (liabilities)25,749(10,879)
Total assets less current liabilities1,863,3812,929,572
Creditors amounts falling due after one year8(1,783,098)(1,868,499)
Provisions for liabilities9(34,803)(30,015)
Net assets45,4801,031,058
Capital and reserves
Called up share capital10,00010,000
Profit and loss account35,4801,021,058
Shareholders' funds45,4801,031,058
The financial statements were approved and authorised for issue by the Board of Directors on 11 September 2024, and are signed on its behalf by:
DENBY, Peter Jonathan
Director
Registered Company No. 02739468
Lakeside Inns Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or the 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets’; residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Fixtures and fittings-50
Vehicles25-
Office Equipment15-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of financial position, inventories are assessed for impairment. If inventory is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Statement of Earnings.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20232022
Average number of employees during the year4037
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 January 2328,00010,00038,000
At 31 December 2328,00010,00038,000
Amortisation and impairment
At 01 January 2328,0001,00029,000
Charge for year-2,0002,000
At 31 December 2328,0003,00031,000
Net book value
At 31 December 23-7,0007,000
At 31 December 22-9,0009,000
4.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 233,600,45862,631543,537145,5384,352,164
Additions--67,211-67,211
Disposals(1,256,157)-(4,105)-(1,260,262)
At 31 December 232,344,30162,631606,643145,5383,159,113
Depreciation and impairment
At 01 January 23804,29150,552433,043132,8271,420,713
Charge for year66,2753,02020,6332,89192,819
On disposals(182,494)-(2,557)-(185,051)
At 31 December 23688,07253,572451,119135,7181,328,481
Net book value
At 31 December 231,656,2299,059155,5249,8201,830,632
At 31 December 222,796,16712,079110,49412,7112,931,451
Included in Land and buildings is land at a cost of £305,000 (2022 - £310,000) which is not depreciated
5.Stocks

2023

2022

££
Raw materials and consumables22,79219,720
Total22,79219,720
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables262,015271,014
Amounts owed by group undertakings210,485196,972
Other debtors39,58730,424
Prepayments and accrued income14,35715,297
Total526,444513,707
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables127,545107,879
Bank borrowings and overdrafts95,11692,824
Amounts owed to related parties123,190214,567
Taxation and social security58,05461,324
Other creditors88,55484,872
Accrued liabilities and deferred income31,02830,357
Total523,487591,823
Bank loans are secured by a fixed and floating charge over the company's assets.
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts1,783,0981,868,499
Total1,783,0981,868,499
Bank loans are secured by a fixed and floating charge over the company’s assets. Bank loans outstanding at the year end include installments due after more than five years of £1,500,000 (2022: £1,500,000).
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)34,80330,015
Total34,80330,015
10.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £8,490 (2022 - £7,771).
11.Exceptional items
During the year there was an intercompany write off of £186,268 (2022 - £nil), this is showing as a credit within administrative expenses.