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Lakeland Caterers Limited

Registered Number
00752865
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

Lakeland Caterers Limited
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

Evelyn Winifred Massey
Stanley Francis Massey

Company Secretary

Evelyn Winifred Massey

Registered Address

4 Mason Court
Gillan Way Penrith 40 Business Park
Penrith
CA11 9GR

Place of Business

Springfields

5 Spring Road

Keswick

CA12 4AQ


Registered Number

00752865 (England and Wales)
Lakeland Caterers Limited
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,7192,182
Investment property6182,755182,755
184,474184,937
Current assets
Debtors7701,673
Cash at bank and on hand207,946199,096
208,016200,769
Creditors amounts falling due within one year8(62,241)(64,770)
Net current assets (liabilities)145,775135,999
Total assets less current liabilities330,249320,936
Net assets330,249320,936
Capital and reserves
Called up share capital1,0001,000
Profit and loss account329,249319,936
Shareholders' funds330,249320,936
The financial statements were approved and authorised for issue by the Board of Directors on 9 January 2025, and are signed on its behalf by:
Evelyn Winifred Massey
Director
Registered Company No. 00752865
Lakeland Caterers Limited
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: - The directors have estimated the fair value of the property, further details are included in note 7 to the accounts.
Revenue from sale of goods
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings50
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 May 2323,15423,154
At 30 April 2423,15423,154
Depreciation and impairment
At 01 May 2320,97220,972
Charge for year463463
At 30 April 2421,43521,435
Net book value
At 30 April 241,7191,719
At 30 April 232,1822,182
4.Revaluation of property, plant and equipment
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
5.Impairment of tangible fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
6.Investment property
Investment property values were reviewed by the directors at 30 April 2024. The properties were revalued at 31 January 2008 by the directors, who consider it to be at least the open market value. The directors are of the opinion that there has since been no material change in value. The original cost of the property was £168,000.

£
Fair value at 01 May 23182,755
At 30 April 24182,755
7.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income701,673
Total701,673
8.Creditors: amounts due within one year

2024

2023

££
Taxation and social security7,9227,763
Other creditors43,71943,407
Accrued liabilities and deferred income10,60013,600
Total62,24164,770
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.