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REGISTERED NUMBER: 06588549 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2024

for

LAKELAND BUILDING SERVICES LIMITED

LAKELAND BUILDING SERVICES LIMITED (Registered number: 06588549)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAKELAND BUILDING SERVICES LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr S R Steel
Mrs D P Steel
Mr R Steel





SECRETARY: Mrs D P Steel





REGISTERED OFFICE: Birchwood House
Woodbridge Road
Bredfield
Suffolk
IP13 6AW





REGISTERED NUMBER: 06588549 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

LAKELAND BUILDING SERVICES LIMITED (Registered number: 06588549)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,387 15,482

CURRENT ASSETS
Stocks 588,444 17,000
Debtors 5 - 37,788
Cash at bank 194,086 443,748
782,530 498,536
CREDITORS
Amounts falling due within one year 6 601,859 314,143
NET CURRENT ASSETS 180,671 184,393
TOTAL ASSETS LESS CURRENT
LIABILITIES

205,058

199,875

PROVISIONS FOR LIABILITIES 7 4,634 2,942
NET ASSETS 200,424 196,933

CAPITAL AND RESERVES
Called up share capital 8 10 2
Retained earnings 200,414 196,931
SHAREHOLDERS' FUNDS 200,424 196,933

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LAKELAND BUILDING SERVICES LIMITED (Registered number: 06588549)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by:





Mr S R Steel - Director


LAKELAND BUILDING SERVICES LIMITED (Registered number: 06588549)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

LAKELAND BUILDING SERVICES LIMITED 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - Straight line over 4 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete or slow moving stock.
At the year end stock may include the value of any properties that are under construction but not fully completed.

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.

LAKELAND BUILDING SERVICES LIMITED (Registered number: 06588549)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 28,561 32,668 441 61,670
Additions 27,680 - - 27,680
Disposals (27,250 ) - - (27,250 )
At 31 May 2024 28,991 32,668 441 62,100
DEPRECIATION
At 1 June 2023 22,639 23,108 441 46,188
Charge for year 4,185 1,912 - 6,097
Eliminated on disposal (14,572 ) - - (14,572 )
At 31 May 2024 12,252 25,020 441 37,713
NET BOOK VALUE
At 31 May 2024 16,739 7,648 - 24,387
At 31 May 2023 5,922 9,560 - 15,482

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 17,780
Unbilled sales contracts - 3,711
VAT - 16,297
- 37,788

LAKELAND BUILDING SERVICES LIMITED (Registered number: 06588549)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 228,110 -
Trade creditors 17,679 2,916
Tax 3,817 2,537
Social security and other taxes 1,150 -
VAT 762 -
Directors' current accounts 345,882 306,631
Accrued expenses 4,459 2,059
601,859 314,143

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 4,634 2,942

Deferred
tax
£   
Balance at 1 June 2023 2,942
Movement in year 1,692
Balance at 31 May 2024 4,634

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 2

8 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.