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REGISTERED NUMBER: 05748596 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Lakewood Construction Limited

Lakewood Construction Limited (Registered number: 05748596)






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


Lakewood Construction Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr P Bundy
Mrs J Bundy





SECRETARY: Mrs J Bundy





REGISTERED OFFICE: The Barns Bottom Pond Farm
Morestead
Winchester
Hampshire
SO21 1JE





REGISTERED NUMBER: 05748596 (England and Wales)





ACCOUNTANTS: Don Roper Accountant Limited
Linden Lea
Allington Lane
West End
Southampton
Hampshire
SO30 3HQ

Lakewood Construction Limited (Registered number: 05748596)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,022 44,951

CURRENT ASSETS
Stocks 72,279 32,769
Debtors 5 22,211 20,623
Cash at bank 299,889 283,324
394,379 336,716
CREDITORS
Amounts falling due within one year 6 92,816 62,162
NET CURRENT ASSETS 301,563 274,554
TOTAL ASSETS LESS CURRENT
LIABILITIES

336,585

319,505

CAPITAL AND RESERVES
Called up share capital 7 4 4
Retained earnings 8 336,581 319,501
SHAREHOLDERS' FUNDS 336,585 319,505

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 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.

Lakewood Construction Limited (Registered number: 05748596)

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 Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





Mr P Bundy - Director


Lakewood Construction Limited (Registered number: 05748596)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Lakewood Construction 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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
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.

Lakewood Construction Limited (Registered number: 05748596)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 26,293 57,113 83,406
DEPRECIATION
At 1 July 2023 13,206 25,249 38,455
Charge for year 1,963 7,966 9,929
At 30 June 2024 15,169 33,215 48,384
NET BOOK VALUE
At 30 June 2024 11,124 23,898 35,022
At 30 June 2023 13,087 31,864 44,951

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 20,000 14,317
VAT - 3,195
Prepayments 2,211 3,111
22,211 20,623

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 48,655 30,057
Corporation tax 31,262 27,706
Social security and other taxes 3,016 2,339
VAT 7,283 -
Accrued expenses 2,600 2,060
92,816 62,162

Lakewood Construction Limited (Registered number: 05748596)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2 Ordinary A £1 2 2
2 Ordinary B £1 2 2
4 4

8. RESERVES
Retained
earnings
£   

At 1 July 2023 319,501
Profit for the year 90,728
Dividends (73,648 )
At 30 June 2024 336,581

9. RELATED PARTY DISCLOSURES

The company was under the control of Mr P Bundy throughout the current and previous year. Mr P Bundy is the managing director and majority shareholder.

No transactions with related parties were undertaken such as are required to be disclosed under Section 1a (Small entities) for Financial Reporting Standard 102.