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REGISTERED NUMBER: 06607084 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

LAKESIDE FILMS LTD

LAKESIDE FILMS LTD (REGISTERED NUMBER: 06607084)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAKESIDE FILMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: S P Horne





REGISTERED OFFICE: Unit 19
Hither Green Industrial Estate
Clevedon
BS21 6XU





REGISTERED NUMBER: 06607084 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

LAKESIDE FILMS LTD (REGISTERED NUMBER: 06607084)

BALANCE SHEET
30 JUNE 2024

2024 2023
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 4 93,871 161,252

CURRENT ASSETS
Stocks 1,167,462 1,258,435
Debtors 5 1,660,528 1,456,236
Cash at bank and in hand 378,925 159,396
3,206,915 2,874,067
CREDITORS
Amounts falling due within one year 6 (1,195,714 ) (1,144,494 )
NET CURRENT ASSETS 2,011,201 1,729,573
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,105,072

1,890,825

PROVISIONS FOR LIABILITIES (22,645 ) (39,438 )
NET ASSETS 2,082,427 1,851,387

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 2,082,417 1,851,377
SHAREHOLDERS' FUNDS 2,082,427 1,851,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LAKESIDE FILMS LTD (REGISTERED NUMBER: 06607084)

BALANCE SHEET - continued
30 JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 October 2024 and were signed by:





S P Horne - Director


LAKESIDE FILMS LTD (REGISTERED NUMBER: 06607084)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Lakeside Films 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to turnover upon delivery of goods to customers.

Revenue is stated net of rebates, which customers receive periodically based upon meeting certain criteria. The rebate is calculated as a percentage of sales in relation to the applicable customers, adjusted for the typical rebate each customer receives as a proportion of applicable sales.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

LAKESIDE FILMS LTD (REGISTERED NUMBER: 06607084)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 390,289
Additions 6,018
Disposals (87,872 )
At 30 June 2024 308,435
DEPRECIATION
At 1 July 2023 229,037
Charge for year 50,149
Eliminated on disposal (64,622 )
At 30 June 2024 214,564
NET BOOK VALUE
At 30 June 2024 93,871
At 30 June 2023 161,252

LAKESIDE FILMS LTD (REGISTERED NUMBER: 06607084)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023 56,872
Disposals (56,872 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 56,872
Eliminated on disposal (56,872 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 1,461,555 1,206,217
Amounts owed by associates 76,850 129,915
Other debtors 122,123 120,104
1,660,528 1,456,236

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Hire purchase contracts - 16,195
Trade creditors 774,647 690,227
Taxation and social security 270,775 102,559
Other creditors 150,292 335,513
1,195,714 1,144,494

LAKESIDE FILMS LTD (REGISTERED NUMBER: 06607084)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Hire purchase contracts - 16,195
Factoring facility 71,053 272,386
71,053 288,581

The bank loan and factoring facility are secured by way of a fixed and floating charge over the undertaking and all property and assets.

8. RELATED PARTY DISCLOSURES

At 30 June 2024, the company was owed £76,850 by companies classed as associates. (2023: £129,915.) The amounts due are free of interest and repayable on demand.

The company received £7,900 in respect of rent, rates and other utilities in respect of part of its premises utilized by an associate. (2023: £8,068.)

At 30 June 2024, the company owed the Director £2,564 in respect of his Director's loan. (2023: £4,298.) The loan from the Director is free of interest, and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Scott and Sian Horne, by virtue of their direct and indirect shareholdings in the company.