Registered number
11887465
Lake Lodge Park Limited
Unaudited Filleted Accounts
31 March 2025
Lake Lodge Park Limited
Registered number: 11887465
Balance Sheet
as at 31 March 2025
As Restated
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 1,289,851 1,025,752
Current assets
Stocks - 345,017
Debtors 4 110,183 97,681
Cash at bank and in hand 85,206 71,113
195,389 513,811
Creditors: amounts falling due within one year 5 (339,515) (646,688)
Net current liabilities (144,126) (132,877)
Total assets less current liabilities 1,145,725 892,875
Creditors: amounts falling due after more than one year 6 (380,592) (416,625)
Provisions for liabilities (95,311) (16,938)
Net assets 669,822 459,312
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 256,045 37,578
Profit and loss account 413,677 421,634
Shareholder's funds 669,822 459,312
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J R Harvey Mrs D A Harvey
Director Director
Approved by the board on 25 June 2025 Approved by the board on 25 June 2025
Lake Lodge Park Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold property not depreciated
Plant and machinery 33% straight line
Office equipment 33% straight line
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 970,000 27,541 65,000 1,062,541
Additions - 766 - 766
Surplus on revaluation 295,000 - - 295,000
Disposals (15,000) - - (15,000)
At 31 March 2025 1,250,000 28,307 65,000 1,343,307
Depreciation
At 1 April 2024 - 23,789 13,000 36,789
Charge for the year - 3,667 13,000 16,667
At 31 March 2025 - 27,456 26,000 53,456
Net book value
At 31 March 2025 1,250,000 851 39,000 1,289,851
At 31 March 2024 970,000 3,752 52,000 1,025,752
Freehold land and buildings: 2025 2024
£ £
Historical cost 908,607 923,607
908,607 923,607
Freehold land and buildings were revalued by the directors on 31 March 2025 at £295,000 (2024: £970,000). The net book value of freehold and buildings can be analysed as follows:
2025 2024
£ £
Historical cost 908,607 923,607
Revaluation 2024 46,393 46,393
Revaluation 2025 295,000 -
1,250,000 970,000
4 Debtors 2025 2024
£ £
Trade debtors 20,317 20,485
Amounts owed by group undertakings and undertakings in which the company has a participating interest 78,899 -
Other debtors 10,967 77,196
110,183 97,681
As Restated
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 27,211 25,056
Obligations under finance lease and hire purchase contracts 6,542 6,542
Trade creditors 13,440 246,763
Amounts owed to group undertakings and undertakings in which the company has a participating interest 15,364 58,186
Taxation and social security costs 22,070 59,088
Other creditors 254,888 251,053
339,515 646,688
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 350,592 379,194
Obligations under finance lease and hire purchase contracts 30,000 37,431
380,592 416,625
7 Loans 2025 2024
£ £
Creditors include:
Instalments falling due for payment after more than five years 215,303 254,250
Secured bank loans 377,803 404,250
Included within creditors are secured debts amounting to £377,803 (2023: £404,250) which are secured by a fixed and floating charge over the Company's assets.
8 Revaluation reserve 2025 2024
£ £
At 1 April 2024 37,578 -
Gain on revaluation of land and buildings 295,000 46,393
Deferred taxation arising on the revaluation of land and buildings (76,533) (8,815)
At 31 March 2025 256,045 37,578
9 Prior year adjustments
Prior year adjustments relate to loan interest incorrectly charged to the profit and loss account in the year ended 31 March 2024 totalling £59,562.
10 Related party transactions
During the year, the Company operated loans with over group companies. At the balance sheet date the amount payable to other group companies was £15,364 (2024: £58,186). These loans are interest free, unsecured and repayable on demand.
During the year, the Company operated loans with over group companies. At the balance sheet date the amount payable from other group companies was £78,899 (2024: £Nil). These loans are interest free, unsecured and repayable on demand.
11 Controlling party
The controlling party as at the balance sheet date was JHDH Limited by virtue of its 100% shareholding.
The ultimate controlling party is Mr J R Harvey and Mrs D A Harvey by virtue of their joint 100% shareholding in JHDH Limited.
12 Other information
Lake Lodge Park Limited is a private company limited by shares and incorporated in England. Its registered office is:
C/O Integra Advisers LLP
1 Westleigh Hall
Wakefield Road, Denby Dale
Huddersfield
HD8 8QJ
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