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Registration number: 11594961

Lake Laundry Services Limited

trading as Lake Laundry Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Lake Laundry Services Limited

trading as Lake Laundry Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Lake Laundry Services Limited

trading as Lake Laundry Services Ltd

Company Information

Directors

Mr Matthew James Mattocks

Mrs Rebecca Elizabeth Mattocks

Registered office

C2 Spithead Business Centre
Newport Road
Sandown
Isle Of Wight
PO36 9PH

Accountants

Novus 24 LLP
3 Marsh Court Farm
Romsey Road
Stockbridge
Hampshire
SO20 6DF

 

Lake Laundry Services Limited

trading as Lake Laundry Services Ltd

(Registration number: 11594961)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

110,783

144,072

Current assets

 

Debtors

5

11,145

9,105

Cash at bank and in hand

 

14,462

8,214

 

25,607

17,319

Creditors: Amounts falling due within one year

6

(168,408)

(161,052)

Net current liabilities

 

(142,801)

(143,733)

Total assets less current liabilities

 

(32,018)

339

Creditors: Amounts falling due after more than one year

6

(37,149)

(48,341)

Provisions for liabilities

(288)

(243)

Net liabilities

 

(69,455)

(48,245)

Capital and reserves

 

Called up share capital

60,004

60,004

Retained earnings

(129,459)

(108,249)

Shareholders' deficit

 

(69,455)

(48,245)

For the financial year ending 30 September 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.

 

Lake Laundry Services Limited

trading as Lake Laundry Services Ltd

(Registration number: 11594961)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 30 May 2025 and signed on its behalf by:
 

.........................................
Mr Matthew James Mattocks
Director

.........................................
Mrs Rebecca Elizabeth Mattocks
Director

 

Lake Laundry Services Limited

trading as Lake Laundry Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
C2 Spithead Business Centre
Newport Road
Sandown
Isle Of Wight
PO36 9PH
England

These financial statements were authorised for issue by the Board on 30 May 2025.

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 have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Lake Laundry Services Limited

trading as Lake Laundry Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

straight line 15 years

Furniture, Fittings and Equipment

straight line 20%

Motor Vehicles

reducing balance 18%

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.

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

 

Lake Laundry Services Limited

trading as Lake Laundry Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Lake Laundry Services Limited

trading as Lake Laundry Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

52,641

150,196

29,891

232,728

Additions

-

1,227

-

1,227

At 30 September 2024

52,641

151,423

29,891

233,955

Depreciation

At 1 October 2023

17,394

63,580

7,682

88,656

Charge for the year

3,036

27,482

3,998

34,516

At 30 September 2024

20,430

91,062

11,680

123,172

Carrying amount

At 30 September 2024

32,211

60,361

18,211

110,783

At 30 September 2023

35,247

86,616

22,209

144,072

Included within the net book value of land and buildings above is £32,211 (2023 - £35,247) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

6,110

4,070

Prepayments

5,035

5,035

 

11,145

9,105

 

Lake Laundry Services Limited

trading as Lake Laundry Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

25,019

32,771

Trade creditors

 

6,855

3,743

Taxation and social security

 

24,007

11,427

Other creditors

 

112,527

113,111

 

168,408

161,052

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

37,149

48,341