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REGISTERED NUMBER: OC372696 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

LAKES BAR & BISTRO LLP

LAKES BAR & BISTRO LLP (REGISTERED NUMBER: OC372696)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAKES BAR & BISTRO LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DESIGNATED MEMBERS: The Bank Tavern (Keswick) Limited
I A Dixon
S M Dixon





REGISTERED OFFICE: 47 Main Street
Keswick
Cumbria
CA12 5DS





REGISTERED NUMBER: OC372696 (England and Wales)





ACCOUNTANTS: Christian Douglass Accountants Limited
Chartered Accountants
The Old Stables
Edenhall
Penrith
CA11 8ST

LAKES BAR & BISTRO LLP (REGISTERED NUMBER: OC372696)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,585 18,827

CURRENT ASSETS
Debtors 5 506,644 461,681
Cash at bank - 982
506,644 462,663
CREDITORS
Amounts falling due within one year 6 128,142 150,449
NET CURRENT ASSETS 378,502 312,214
TOTAL ASSETS LESS CURRENT
LIABILITIES

394,087

331,041

CREDITORS
Amounts falling due after more than one
year

7

3,461

13,674
NET ASSETS ATTRIBUTABLE TO
MEMBERS

390,626

317,367

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

390,626

317,367

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 390,626 317,367
Amounts due from members 5 (505,297 ) (457,824 )
(114,671 ) (140,457 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 29 February 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

LAKES BAR & BISTRO LLP (REGISTERED NUMBER: OC372696)

BALANCE SHEET - continued
29 FEBRUARY 2024


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 28 November 2024 and were signed by:





I A Dixon - Designated member

LAKES BAR & BISTRO LLP (REGISTERED NUMBER: OC372696)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Lakes Bar & Bistro LLP is a limited liability partnership registered in England and Wales. The LLP's registered number is OC372696 and its registered office is 47 Main Street, Keswick, Cumbria, CA12 5DS.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

After deducting the liability due to members, at the balance sheet date the business had net current liabilities amounting to £12,124 (2023: £5,153). On the basis of continued financial support from the members, the going concern basis of preparation of the financial statements is considered to be appropriate.

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

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 reducing balance and 15% on reducing balance

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - 4 ).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 107,348
DEPRECIATION
At 1 March 2023 88,521
Charge for year 3,242
At 29 February 2024 91,763
NET BOOK VALUE
At 29 February 2024 15,585
At 28 February 2023 18,827

LAKES BAR & BISTRO LLP (REGISTERED NUMBER: OC372696)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 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 March 2023
and 29 February 2024 29,306
DEPRECIATION
At 1 March 2023 25,394
Charge for year 978
At 29 February 2024 26,372
NET BOOK VALUE
At 29 February 2024 2,934
At 28 February 2023 3,912

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 58 -
Other debtors 506,586 461,681
506,644 461,681

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts (see note 8) 3,769 3,769
Trade creditors 104,451 113,615
Taxation and social security - 12,461
Other creditors 19,922 20,604
128,142 150,449

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts (see note 8) 2,308 4,721
Other creditors 1,153 8,953
3,461 13,674

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

29.2.24 28.2.23
£    £   
Net obligations repayable:
Within one year 3,769 3,769
Between one and five years 2,308 4,721
6,077 8,490

LAKES BAR & BISTRO LLP (REGISTERED NUMBER: OC372696)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 6,077 8,490

Hire contracts are secured on assets concerned.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debt due to members rank alongside unsecured creditors on a winding up.