Acorah Software Products - Accounts Production 16.3.350 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 13456947 Mr Blaise Jennings Mrs Katherine Jennings iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13456947 2024-03-31 13456947 2025-03-31 13456947 2024-04-01 2025-03-31 13456947 frs-core:CurrentFinancialInstruments 2025-03-31 13456947 frs-core:Non-currentFinancialInstruments 2025-03-31 13456947 frs-core:FurnitureFittings 2025-03-31 13456947 frs-core:FurnitureFittings 2024-04-01 2025-03-31 13456947 frs-core:FurnitureFittings 2024-03-31 13456947 frs-core:InvestmentPropertyIncludedWithinPPE 2025-03-31 13456947 frs-core:InvestmentPropertyIncludedWithinPPE 2024-04-01 2025-03-31 13456947 frs-core:InvestmentPropertyIncludedWithinPPE 2024-03-31 13456947 frs-core:ShareCapital 2025-03-31 13456947 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 13456947 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 13456947 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 13456947 frs-bus:SmallEntities 2024-04-01 2025-03-31 13456947 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 13456947 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 13456947 frs-bus:Director1 2024-04-01 2025-03-31 13456947 frs-bus:Director2 2024-04-01 2025-03-31 13456947 frs-countries:EnglandWales 2024-04-01 2025-03-31 13456947 2023-03-31 13456947 2024-03-31 13456947 2023-04-01 2024-03-31 13456947 frs-core:CurrentFinancialInstruments 2024-03-31 13456947 frs-core:Non-currentFinancialInstruments 2024-03-31 13456947 frs-core:ShareCapital 2024-03-31 13456947 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 13456947
Lake & Croft Homes Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13456947
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,800,125 1,395,738
1,800,125 1,395,738
CURRENT ASSETS
Debtors 5 5,106 7,644
Investments 100 100
Cash at bank and in hand 5,377 8,330
10,583 16,074
Creditors: Amounts Falling Due Within One Year 6 (315,802 ) (292,609 )
NET CURRENT ASSETS (LIABILITIES) (305,219 ) (276,535 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,494,906 1,119,203
Creditors: Amounts Falling Due After More Than One Year 7 (1,317,402 ) (1,050,280 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (49,341 ) (20,958 )
NET ASSETS 128,163 47,965
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 128,063 47,865
SHAREHOLDERS' FUNDS 128,163 47,965
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Blaise Jennings
Director
13/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lake & Croft Homes Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13456947 . The registered office is 1 Derwent Business Centre, Clarke Street, Derby, DE1 2BU.
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, excluding discounts, rebates, value added tax or other similar sales taxes.
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:
Fixtures & Fittings 25% Straight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. The fair value of property is based on director's valuations and has not been based on a valuation by an independent valuer with a professional qualification. No depreciation is provided for.
Changes in fair value are recognised in the profit and loss account.
2.5. Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
2.6. Investments in subsidiary companies
Shares in subsidiary companies are held at cost.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was as follows:
2025 2024
Office and administration 2 2
2 2
Page 3
Page 4
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 April 2024 1,395,000 2,451 1,397,451
Additions 282,050 - 282,050
Revaluation 122,950 - 122,950
As at 31 March 2025 1,800,000 2,451 1,802,451
Depreciation
As at 1 April 2024 - 1,713 1,713
Provided during the period - 613 613
As at 31 March 2025 - 2,326 2,326
Net Book Value
As at 31 March 2025 1,800,000 125 1,800,125
As at 1 April 2024 1,395,000 738 1,395,738
5. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 2,106 4,434
Other debtors 1,500 1,710
Amounts owed by subsidiaries 1,500 1,500
5,106 7,644
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other taxes and social security 372 147
Other creditors 99,056 93,556
Accruals and deferred income 3,216 17,848
Directors' loan accounts 213,158 181,058
315,802 292,609
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 1,317,402 1,050,280
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Page 5
8. Secured Creditors
Of the creditors falling due after more than one year the following amount is secured by fixed charges over the investment properties. The mortgages are on an interest only basis with terms of between 20 and 25 years. One of the properties is under a Diminishing Musharakah Agreement with terms of 25 years and with rental payments being made against the lease agreement, no payments are being made towards the diminishing ownership agreement.
2025 2024
£ £
Bank loans and overdrafts 1,317,402 1,050,280
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
At 31st March 2025, Lake & Croft Homes Ltd owed £98,706 (2024 - £93,456) to Jenene22 Limited, a company in which Mr B Jennings is a director and shareholder. Interest is payable at 6% and the capital amount was repayable on 31st March 2025 in full.
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