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Registered number: 12126010
Lake Electrical Services Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
CLIVE G. CHADNEY LIMITED
108 Sandford Road
Chelmsford
CM2 6DH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12126010
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,175 14,230
11,175 14,230
CURRENT ASSETS
Debtors 5 5,423 7,933
Cash at bank and in hand 16,248 12,207
21,671 20,140
Creditors: Amounts Falling Due Within One Year 6 (9,532 ) (11,684 )
NET CURRENT ASSETS (LIABILITIES) 12,139 8,456
TOTAL ASSETS LESS CURRENT LIABILITIES 23,314 22,686
NET ASSETS 23,314 22,686
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 23,313 22,685
SHAREHOLDERS' FUNDS 23,314 22,686
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Lake
Director
25 April 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lake Electrical Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12126010 . The registered office is 108 Sandford Road, Chelmsford, Essex, CM2 6DH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Straight Line
Motor Vehicles 25% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 August 2023 6,362 27,188 33,550
As at 31 July 2024 6,362 27,188 33,550
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 August 2023 1,334 17,986 19,320
Provided during the period 754 2,301 3,055
As at 31 July 2024 2,088 20,287 22,375
Net Book Value
As at 31 July 2024 4,274 6,901 11,175
As at 1 August 2023 5,028 9,202 14,230
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,423 7,297
Other debtors - 636
5,423 7,933
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 3,178 3,372
Taxation and social security 6,354 8,312
9,532 11,684
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
8. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 12,000 19,000
Page 4