IRIS Accounts Production v24.3.2.46 06633388 director 1.7.23 30.6.24 30.6.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh066333882023-06-30066333882024-06-30066333882023-07-012024-06-30066333882022-06-30066333882022-07-012023-06-30066333882023-06-3006633388ns15:EnglandWales2023-07-012024-06-3006633388ns14:PoundSterling2023-07-012024-06-3006633388ns10:Director12023-07-012024-06-3006633388ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3006633388ns10:SmallEntities2023-07-012024-06-3006633388ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3006633388ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3006633388ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3006633388ns10:FullAccounts2023-07-012024-06-300663338812023-07-012024-06-3006633388ns10:RegisteredOffice2023-07-012024-06-3006633388ns5:CurrentFinancialInstruments2024-06-3006633388ns5:CurrentFinancialInstruments2023-06-3006633388ns5:Non-currentFinancialInstruments2024-06-3006633388ns5:Non-currentFinancialInstruments2023-06-3006633388ns5:ShareCapital2024-06-3006633388ns5:ShareCapital2023-06-3006633388ns5:RetainedEarningsAccumulatedLosses2024-06-3006633388ns5:RetainedEarningsAccumulatedLosses2023-06-3006633388ns5:NetGoodwill2023-07-012024-06-3006633388ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3006633388ns5:PlantMachinery2023-07-012024-06-3006633388ns5:FurnitureFittings2023-07-012024-06-3006633388ns5:MotorVehicles2023-07-012024-06-3006633388ns5:ComputerEquipment2023-07-012024-06-3006633388ns5:NetGoodwill2023-06-3006633388ns5:NetGoodwill2024-06-3006633388ns5:NetGoodwill2023-06-3006633388ns5:LandBuildings2023-06-3006633388ns5:PlantMachinery2023-06-3006633388ns5:FurnitureFittings2023-06-3006633388ns5:LandBuildings2023-07-012024-06-3006633388ns5:LandBuildings2024-06-3006633388ns5:PlantMachinery2024-06-3006633388ns5:FurnitureFittings2024-06-3006633388ns5:LandBuildings2023-06-3006633388ns5:PlantMachinery2023-06-3006633388ns5:FurnitureFittings2023-06-3006633388ns5:MotorVehicles2023-06-3006633388ns5:ComputerEquipment2023-06-3006633388ns5:MotorVehicles2024-06-3006633388ns5:ComputerEquipment2024-06-3006633388ns5:MotorVehicles2023-06-3006633388ns5:ComputerEquipment2023-06-3006633388ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3006633388ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3006633388ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-06-3006633388ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3006633388ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3006633388ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30
REGISTERED NUMBER: 06633388 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

LAKELAND VERANDAHS LIMITED

LAKELAND VERANDAHS LIMITED (REGISTERED NUMBER: 06633388)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAKELAND VERANDAHS LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTOR: R J Milburn





REGISTERED OFFICE: The Sanderlings
Vanguard Wharf
Lytham
Lancashire
FY8 5FQ





REGISTERED NUMBER: 06633388 (England and Wales)





ACCOUNTANTS: Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB

LAKELAND VERANDAHS LIMITED (REGISTERED NUMBER: 06633388)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 828,776 714,497
828,776 714,497

CURRENT ASSETS
Stocks 272,550 160,550
Debtors 6 1,868,787 1,454,994
Cash at bank 490,432 717,152
2,631,769 2,332,696
CREDITORS
Amounts falling due within one year 7 1,324,769 1,380,257
NET CURRENT ASSETS 1,307,000 952,439
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,135,776

1,666,936

CREDITORS
Amounts falling due after more than one
year

8

(1,026,813

)

(646,872

)

PROVISIONS FOR LIABILITIES (207,193 ) (178,624 )
NET ASSETS 901,770 841,440

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 900,770 840,440
SHAREHOLDERS' FUNDS 901,770 841,440

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

LAKELAND VERANDAHS LIMITED (REGISTERED NUMBER: 06633388)

BALANCE SHEET - continued
30 June 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 13 March 2025 and were signed by:





R J Milburn - Director


LAKELAND VERANDAHS LIMITED (REGISTERED NUMBER: 06633388)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Lakeland Verandahs 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
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2008, has been amortised evenly over its estimated life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


LAKELAND VERANDAHS LIMITED (REGISTERED NUMBER: 06633388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued
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.

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 38 (2023 - 36 ) .

LAKELAND VERANDAHS LIMITED (REGISTERED NUMBER: 06633388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 9,000
AMORTISATION
At 1 July 2023
and 30 June 2024 9,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 261,494 248,766 17,847
Additions - 17,981 1,880
Transfer to ownership - - -
Reclassification/transfer - - -
At 30 June 2024 261,494 266,747 19,727
DEPRECIATION
At 1 July 2023 - 150,838 16,031
Charge for year - 25,434 629
At 30 June 2024 - 176,272 16,660
NET BOOK VALUE
At 30 June 2024 261,494 90,475 3,067
At 30 June 2023 261,494 97,928 1,816

LAKELAND VERANDAHS LIMITED (REGISTERED NUMBER: 06633388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 610,584 35,106 1,173,797
Additions 210,921 14,915 245,697
Transfer to ownership (122,531 ) - (122,531 )
Reclassification/transfer 122,531 - 122,531
At 30 June 2024 821,505 50,021 1,419,494
DEPRECIATION
At 1 July 2023 265,884 26,547 459,300
Charge for year 98,948 6,407 131,418
At 30 June 2024 364,832 32,954 590,718
NET BOOK VALUE
At 30 June 2024 456,673 17,067 828,776
At 30 June 2023 344,700 8,559 714,497

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 610,584
Additions 210,921
Transfer to ownership (122,531 )
At 30 June 2024 698,974
DEPRECIATION
At 1 July 2023 265,884
Charge for year 91,001
Transfer to ownership (90,741 )
At 30 June 2024 266,144
NET BOOK VALUE
At 30 June 2024 432,830
At 30 June 2023 344,700

LAKELAND VERANDAHS LIMITED (REGISTERED NUMBER: 06633388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 1,087,069 955,328
Other debtors 781,718 499,666
1,868,787 1,454,994

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 88,898 55,692
Hire purchase contracts 130,909 90,397
Trade creditors 675,737 574,265
Taxation and social security 272,346 409,391
Other creditors 156,879 250,512
1,324,769 1,380,257

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 648,234 297,075
Hire purchase contracts 263,558 225,910
Other creditors 115,021 123,887
1,026,813 646,872

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 292,642 134,037

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 394,467 316,307

Hire Purchase creditors are secured on the assets to which they relate.