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REGISTERED NUMBER: 09896026 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LAKES CONVENIENCE LTD

LAKES CONVENIENCE LTD (REGISTERED NUMBER: 09896026)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LAKES CONVENIENCE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr M J Wilson
Mr D G Wilson



REGISTERED OFFICE: Greenbank House
217 Abbey Road
Barrow-in-furness
Cumbria
LA14 5JY



REGISTERED NUMBER: 09896026 (England and Wales)



BANKERS: Lloyds Bank plc
121-135 Dalton Road
Barrow-in-Furness
Cumbria
LA14 1HZ

LAKES CONVENIENCE LTD (REGISTERED NUMBER: 09896026)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,123 1,174
Investment property 6 86,127 -
93,250 1,174

CURRENT ASSETS
Stocks 35,000 35,000
Debtors 2,750 40,417
Cash at bank and in hand 49,172 29,003
86,922 104,420
CREDITORS
Amounts falling due within one year 112,107 46,203
NET CURRENT (LIABILITIES)/ASSETS (25,185 ) 58,217
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,065

59,391

CREDITORS
Amounts falling due after more than one
year

13,540

29,139
NET ASSETS 54,525 30,252

CAPITAL AND RESERVES
Called up share capital 8 102 102
Retained earnings 54,423 30,150
SHAREHOLDERS' FUNDS 54,525 30,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LAKES CONVENIENCE LTD (REGISTERED NUMBER: 09896026)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:




Mr M J Wilson - Director



Mr D G Wilson - Director


LAKES CONVENIENCE LTD (REGISTERED NUMBER: 09896026)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Lakes Convenience Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis the directors having agreed to continue to support the company.

Turnover
Turnover represents net invoiced sales of goods and services, excluding VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of seven years.

Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

LAKES CONVENIENCE LTD (REGISTERED NUMBER: 09896026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 203,998
AMORTISATION
At 1 January 2023
and 31 December 2023 203,998
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 15,745
Additions 7,999
At 31 December 2023 23,744
DEPRECIATION
At 1 January 2023 14,571
Charge for year 2,050
At 31 December 2023 16,621
NET BOOK VALUE
At 31 December 2023 7,123
At 31 December 2022 1,174

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 86,127
At 31 December 2023 86,127
NET BOOK VALUE
At 31 December 2023 86,127

LAKES CONVENIENCE LTD (REGISTERED NUMBER: 09896026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 24,167 41,141

Lloyds Bank PLC hold charge over the company incorporating a fixed charge, a floating charge and a negative pledge, over all the property of the company, and a charge over the leasehold property, 1 Lakes Parade, Ennerdale Drive, Barrow in Furness.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100
2 Dividend £1 2 2
102 102

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr M J Wilson
Balance outstanding at start of year 18,833 38,328
Amounts advanced - 18,833
Amounts repaid (18,833 ) (38,328 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 18,833

Mr D G Wilson
Balance outstanding at start of year 18,833 38,328
Amounts advanced - 18,833
Amounts repaid (18,833 ) (38,328 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 18,833

During the financial year the directors were charged £Nil (2022: £1,411) interest on the loan which is unsecured and repayable on demand.