Registered number
11930736
Sculpture by the Lakes Limited
Filleted Accounts
31 March 2025
Sculpture by the Lakes Limited
Registered number: 11930736
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 90,189 103,748
Current assets
Stocks 500 500
Debtors 4 68,093 33,249
Cash at bank and in hand 6,898 7,462
75,491 41,211
Creditors: amounts falling due within one year 5 (143,716) (102,574)
Net current liabilities (68,225) (61,363)
Total assets less current liabilities 21,964 42,385
Creditors: amounts falling due after more than one year 6 (3,664) (9,115)
Provisions for liabilities (17,196) (19,772)
Net assets 1,104 13,498
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,004 13,398
Shareholders' funds 1,104 13,498
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 members have 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.
Mrs M Gudgeon
Director
Approved by the board on 23 July 2025
Sculpture by the Lakes 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:
Equipment 25% reducing balance
Motor Vehicles 20% on cost
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.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 39,495 102,965 32,356 174,816
Additions - 2,303 - 2,303
At 31 March 2025 39,495 105,268 32,356 177,119
Depreciation
At 1 April 2024 - 54,243 16,825 71,068
Charge for the year - 12,756 3,106 15,862
At 31 March 2025 - 66,999 19,931 86,930
Net book value
At 31 March 2025 39,495 38,269 12,425 90,189
At 31 March 2024 39,495 48,722 15,531 103,748
4 Debtors 2025 2024
£ £
Trade debtors 1,025 7,810
Amounts owed by group undertakings and undertakings in which the company has a participating interest 66,691 21,929
Other debtors 377 3,510
68,093 33,249
5 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 6,282 6,282
Trade creditors 27,921 18,610
Amounts owed to group undertakings and undertakings in which the company has a participating interest 108,771 72,499
Taxation and social security costs 742 1,900
Other creditors - 3,283
143,716 102,574
6 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 3,664 9,115
7 Related party transactions
As at 31st March 2025 the company was owed £66,691 (31/3/24 £21,929) from companies under common control and owed £108,771 (31/3/24 £72,499) to companies under common control.
8 Other information
Sculpture by the Lakes Limited is a private company limited by shares and incorporated in England. Its registered office is:
Pallington Lakes
Pallington
Dorchester
Dorset
DT2 8QU
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