Lakehurst Developments Limited 02131525 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true true 02131525 2024-01-01 2024-12-31 02131525 2024-12-31 02131525 bus:OrdinaryShareClass1 2024-12-31 02131525 bus:OrdinaryShareClass2 2024-12-31 02131525 core:OtherReservesSubtotal 2024-12-31 02131525 core:RetainedEarningsAccumulatedLosses 2024-12-31 02131525 core:ShareCapital 2024-12-31 02131525 core:CurrentFinancialInstruments 2024-12-31 02131525 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 02131525 core:FurnitureFittings 2024-12-31 02131525 bus:SmallEntities 2024-01-01 2024-12-31 02131525 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 02131525 bus:FilletedAccounts 2024-01-01 2024-12-31 02131525 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02131525 bus:RegisteredOffice 2024-01-01 2024-12-31 02131525 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 02131525 bus:Director2 2024-01-01 2024-12-31 02131525 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 02131525 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 02131525 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02131525 core:FurnitureFittings 2024-01-01 2024-12-31 02131525 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 02131525 countries:EnglandWales 2024-01-01 2024-12-31 02131525 2023-12-31 02131525 core:FurnitureFittings 2023-12-31 02131525 2023-01-01 2023-12-31 02131525 2023-12-31 02131525 bus:OrdinaryShareClass1 2023-12-31 02131525 bus:OrdinaryShareClass2 2023-12-31 02131525 core:OtherReservesSubtotal 2023-12-31 02131525 core:RetainedEarningsAccumulatedLosses 2023-12-31 02131525 core:ShareCapital 2023-12-31 02131525 core:CurrentFinancialInstruments 2023-12-31 02131525 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02131525 core:FurnitureFittings 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02131525

Lakehurst Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Lakehurst Developments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Lakehurst Developments Limited

Company Information

Directors

Mrs PG Mills

Mr JE Mills

Company secretary

Mrs PG Mills

Registered office

1-2 Rhodium Point Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

Accountants

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Lakehurst Developments Limited

(Registration number: 02131525)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

172

215

Current assets

 

Stocks

5

100,000

100,000

Debtors

6

88

17

Cash at bank and in hand

 

252

181

 

100,340

100,198

Creditors: Amounts falling due within one year

7

(128,102)

(143,846)

Net current liabilities

 

(27,762)

(43,648)

Net liabilities

 

(27,590)

(43,433)

Capital and reserves

 

Called up share capital

8

510

510

Other reserves

490

490

Retained earnings

(28,590)

(44,433)

Shareholders' deficit

 

(27,590)

(43,433)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 May 2025 and signed on its behalf by:
 

.........................................
Mr JE Mills
Director

   
     
 

Lakehurst Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

Lakehurst Developments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02131525 and registered office address is as follows:


1-2 Rhodium Point Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ
 

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements are prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company's ability to continue as a going concern.

Judgements

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.

No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

 

Lakehurst Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by reporting date in the countries where the company operates and generates taxable income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% Reducing balance

 

Lakehurst Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

 

Lakehurst Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Fixtures and equipment
£

Total
£

Cost or valuation

At 1 January 2024

20,589

20,589

At 31 December 2024

20,589

20,589

Depreciation

At 1 January 2024

20,374

20,374

Charge for the year

43

43

At 31 December 2024

20,417

20,417

Carrying amount

At 31 December 2024

172

172

At 31 December 2023

215

215

5

Stocks

2024
£

2023
£

Land

100,000

100,000

6

Debtors

Current

2024
£

2023
£

Prepayments

88

17

 

88

17

 

Lakehurst Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

126,542

142,334

Accruals and deferred income

 

1,560

1,512

 

128,102

143,846

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

20

20

20

20

Ordinary B of £1 each

490

490

490

490

510

510

510

510

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Directors current account

126,542

142,334

This is interest free and is secured by way of debenture.

10

Related party transactions

Greenwell Investments Limited

A company in which both J. E. Mills and P. G. Mills are directors and shareholders.

During the year, the company received £20,000 (2023: £20,000) from Greenwell Investments Limited in respect of management charges.