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REGISTERED NUMBER: 08914477 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

LAKES LOOS LTD

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LAKES LOOS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Mr D Coxon



REGISTERED OFFICE: Unit W Main Line Industrial Estate
Crooklands Road
Ackenthwaite
Milnthorpe
Cumbria
LA7 7LR



REGISTERED NUMBER: 08914477 (England and Wales)



BANKERS: Barclays Bank plc
Leicestershire
LE87 2BB

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

ABRIDGED BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 551,091 446,988

CURRENT ASSETS
Debtors 106,297 99,830
Cash at bank 396 45,425
106,693 145,255
CREDITORS
Amounts falling due within one year 112,924 95,677
NET CURRENT (LIABILITIES)/ASSETS (6,231 ) 49,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

544,860

496,566

CREDITORS
Amounts falling due after more than one
year

104,435

57,292
NET ASSETS 440,425 439,274

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 440,424 439,273
SHAREHOLDERS' FUNDS 440,425 439,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

ABRIDGED BALANCE SHEET - continued
29 FEBRUARY 2024


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 29 February 2024 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 director and authorised for issue on 14 November 2024 and were signed by:





Mr D Coxon - Director


LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

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

1. STATUTORY INFORMATION

Lakes Loos 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.

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

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.
Improvements to property - 10% on cost
Plant and machinery - 25% on cost and 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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 5 (2023 - 5 ) .

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 911,075
Additions 273,803
Disposals (118,467 )
At 29 February 2024 1,066,411
DEPRECIATION
At 1 March 2023 464,087
Charge for year 136,297
Eliminated on disposal (85,064 )
At 29 February 2024 515,320
NET BOOK VALUE
At 29 February 2024 551,091
At 28 February 2023 446,988

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

Totals
£   
COST
At 1 March 2023 101,063
Additions 109,736
Transfer to ownership (15,260 )
At 29 February 2024 195,539
DEPRECIATION
At 1 March 2023 44,621
Charge for year 28,752
Transfer to ownership (15,260 )
At 29 February 2024 58,113
NET BOOK VALUE
At 29 February 2024 137,426
At 28 February 2023 56,442

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

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

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29.2.24 28.2.23
£    £   
Net obligations repayable:
Within one year 32,811 14,961
Between one and five years 92,619 35,189
125,430 50,150

Non-cancellable operating leases
29.2.24 28.2.23
£    £   
Within one year 30,000 30,000
Between one and five years 120,000 120,000
In more than five years 92,500 122,500
242,500 272,500

6. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 125,430 50,150

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary 1p 1 1

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
Mr D Coxon
Balance outstanding at start of year 63,642 72,874
Amounts advanced 52,188 63,642
Amounts repaid (72,682 ) (72,874 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 43,148 63,642

LAKES LOOS LTD (REGISTERED NUMBER: 08914477)

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

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

During the financial year the director was charged £1,188 (2023: £1,300) interest on the loan which is unsecured and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D Coxon.