REGISTERED NUMBER: 00757245 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

THE LAKELAND VILLAGE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs D Atkin

SECRETARY:

C Foster

REGISTERED OFFICE:

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

00757245 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

FIXED ASSETS

Tangible assets

4

1,943,936

2,096,569

CURRENT ASSETS

Stocks

18,132

20,525

Debtors

5

144,738

204,598

Cash at bank

31,609

24,292

194,479

249,415

CREDITORS

Amounts falling due within one year

6

249,908

364,754

NET CURRENT LIABILITIES

(55,429

)

(115,339

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,888,507

1,981,230

CREDITORS

Amounts falling due after more than one year

7

14,256,994

13,884,527

NET LIABILITIES

(12,368,487

)

(11,903,297

)

CAPITAL AND RESERVES

Called up share capital

8

1,300,000

1,300,000

Retained earnings

9

(13,668,487

)

(13,203,297

)

SHAREHOLDERS' FUNDS

(12,368,487

)

(11,903,297

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th September 2025 and were signed by:

Mrs D Atkin - Director

1.	STATUTORY INFORMATION

The Lakeland Village Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. This is contingent upon the continued support of the ultimate parent company, Heritage Holdings International (BVI) Ltd.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

1% on cost

Fixtures and fittings

-

20% on cost and 10% on cost

Motor vehicles

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 39 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1st January 2024

2,616,701

2,006,284

12,300

4,635,285

Additions

-

30,391

-

30,391

Disposals

(151,947

)

-

-

(151,947

)

At 31st December 2024

2,464,754

2,036,675

12,300

4,513,729

DEPRECIATION

At 1st January 2024

592,367

1,934,049

12,300

2,538,716

Charge for year

24,648

34,026

-

58,674

Eliminated on disposal

(27,597

)

-

-

(27,597

)

At 31st December 2024

589,418

1,968,075

12,300

2,569,793

NET BOOK VALUE

At 31st December 2024

1,875,336

68,600

-

1,943,936

At 31st December 2023

2,024,334

72,235

-

2,096,569

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

27,724

87,820

Other debtors

58,420

50,920

Prepayments and accrued income

58,594

65,858

144,738

204,598

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts

25,578

49,333

Trade creditors

133,542

236,716

Social security and other taxes

55,182

25,779

Accruals and deferred income

35,606

52,926

249,908

364,754

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans due in one to five years

4,167

31,829

Other creditors due in more than five years

14,252,827

13,852,698

14,256,994

13,884,527

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

1,300,000

Ordinary

£1

1,300,000

1,300,000

9.

RESERVES

Retained

earnings

£

At 1st January 2024

(13,203,297

)

Deficit for the year

(465,190

)

At 31st December 2024

(13,668,487

)

10.	RELATED PARTY DISCLOSURES

Included within other creditors due in more than five years is an amount of £14,252,827 (2023 - £13,825,698) due to the ultimate parent company, Heritage Holdings International (BVI) Ltd.

11.	ULTIMATE PARENT COMPANY

The ultimate parent company is Heritage Holdings International (BVI) Ltd, a company registered in British Virgin Islands. Heritage Holdings International (BVI) Ltd owns all of the company's issued share capital.