Registration number: 08538308

Phocle Lake Limited

(Registration number: 08538308)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,045,995	1,060,489
Current assets
Debtors	5	5,877	122
Cash at bank and in hand		12,117	10,221
		17,994	10,343
Creditors: Amounts falling due within one year	6	(39,412)	(27,891)
Net current liabilities		(21,418)	(17,548)
Total assets less current liabilities		1,024,577	1,042,941
Creditors: Amounts falling due after more than one year	6	(1,018,868)	(1,036,297)
Provisions for liabilities		9,500	11,500
Net assets		15,209	18,144
Capital and reserves
Called up share capital		100	100
Retained earnings		15,109	18,044
Shareholders' funds		15,209	18,144

For the financial year ending 31 July 2025 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.

Phocle Lake Limited

(Registration number: 08538308)
Balance Sheet as at 31 July 2025

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 5 September 2025 and signed on its behalf by:
 

......................................... P Watson Director

......................................... A Watson Director

Phocle Lake Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Phocle Lake
Phocle Green
Ross on Wye
Herefordshire
HR9 7TW

These financial statements were authorised for issue by the Board on 5 September 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 provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, 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.

Tax

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

Phocle Lake Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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
Plant & machinery	25% pa on a reducing balance basis.
Fixtures & fittings	25% pa on a reducing balance basis.
Freehold property	5% pa on a straight line basis

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 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.

Phocle Lake Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

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.

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.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 2).

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Total £
Cost or valuation
At 1 August 2024	1,086,027	51,284	18,046	1,155,357
At 31 July 2025	1,086,027	51,284	18,046	1,155,357
Depreciation
At 1 August 2024	35,617	43,859	15,391	94,867
Charge for the year	11,962	1,867	666	14,495
At 31 July 2025	47,579	45,726	16,057	109,362
Carrying amount
At 31 July 2025	1,038,448	5,558	1,989	1,045,995
At 31 July 2024	1,050,409	7,425	2,655	1,060,489

No depreciation is charged on the freehold land included in land and buildings.

Phocle Lake Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

5

Debtors

Current	2025 £	2024 £
Other debtors	5,877	122
	5,877	122

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	7	5,000	5,000
Trade creditors		(360)	2,839
Taxation and social security		6,056	4,305
Accruals and deferred income		26,226	15,747
Other creditors		2,490	-
		39,412	27,891

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	7	1,018,868	1,036,297

7	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	7,605	9,242
Other borrowings	1,011,263	1,027,055
	1,018,868	1,036,297

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,000	5,000