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REGISTERED NUMBER: 11646097 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

EIGHT ACRE LAKE LTD

EIGHT ACRE LAKE LTD (REGISTERED NUMBER: 11646097)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EIGHT ACRE LAKE LTD

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTOR: J M Mudryk





REGISTERED OFFICE: Eight Acre Lake Mires Lane
North Cave
Brough
East Yorkshire
HU15 2QP





REGISTERED NUMBER: 11646097 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

EIGHT ACRE LAKE LTD (REGISTERED NUMBER: 11646097)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,046 63,145

CURRENT ASSETS
Stocks 114,754 116,927
Debtors 5 6,479 1,810
Cash at bank and in hand 4,169 17,414
125,402 136,151
CREDITORS
Amounts falling due within one year 6 226,555 243,496
NET CURRENT LIABILITIES (101,153 ) (107,345 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(51,107

)

(44,200

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (51,108 ) (44,201 )
(51,107 ) (44,200 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

EIGHT ACRE LAKE LTD (REGISTERED NUMBER: 11646097)

BALANCE SHEET - continued
31 January 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 28 October 2024 and were signed by:





J M Mudryk - Director


EIGHT ACRE LAKE LTD (REGISTERED NUMBER: 11646097)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Eight Acre Lake Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Eight Acre Lake Mires Lane, North Cave, Brough, East Yorkshire, HU15 2QP, United Kingdom

The principal activity of the company is scuba diving lessons and associated equipment sales.

The presentational currency of the financial statements is 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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making, due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

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.


EIGHT ACRE LAKE LTD (REGISTERED NUMBER: 11646097)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 126,642
Additions 13,760
Disposals (46,951 )
At 31 January 2024 93,451
DEPRECIATION
At 1 February 2023 63,497
Charge for year 15,749
Eliminated on disposal (35,841 )
At 31 January 2024 43,405
NET BOOK VALUE
At 31 January 2024 50,046
At 31 January 2023 63,145

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 628 791
Other debtors 5,851 1,019
6,479 1,810

EIGHT ACRE LAKE LTD (REGISTERED NUMBER: 11646097)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,219 585
Taxation and social security - 457
Other creditors 221,336 242,454
226,555 243,496

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other creditors are current account balances and loans from the directors.

At the year end, the respective current account balances were as follows:

Director Mr J M Mudryk 2024: £220,135 (2023: £241,554)
.
The current account balances and loans do not carry any rights to interest and are repayable on demand.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J M Mudryk.

9. GOING CONCERN

The director has confirmed his support to the company for the foreseeable future therefore adopting the going concern basis in preparing the financial statements is appropriate.