Lakeland Carbons Limited

Lakeland Carbons Limited
Directors' Report
For the year ended 31 December 2024

Director's report and financial statements

The directors present their annual report and the financial statements for the year ended 31 December 2024

Principal activities

The companys principal activity during the year was the processing and packaging of filtration and grit blasting materials.

Directors

The directors who served the company throughout the year were as follows:

Mr N J Harrison

Mr S Walsh

Statement of directors' responsibilities

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to

select suitable accounting policies and then apply them consistently
make judgments and accounting estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:

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Mr S Walsh
Director

Date approved: 29 September 2025

Lakeland Carbons Limited
Statement of Financial Position
As at 31 December 2024

	Notes	2024 £	2023 £
Fixed assets
Tangible fixed assets	3	19,348	25,727
		19,348	25,727
Current assets
Stocks	4	149,790	114,625
Debtors	5	63,512	55,638
Cash at bank and in hand		56,178	72,739
		269,480	243,002
Creditors: amount falling due within one year	6	(85,916)	(74,258)
Net current assets		183,564	168,744

Total assets less current liabilities		202,912	194,471
Provisions for liabilities	7	(2,696)	(4,107)
Net assets		200,216	190,364

Capital and reserves
Called up share capital	8	1,040	1,040
Profit and loss account		199,176	189,324
Shareholders' funds		200,216	190,364

For the year ended 31 December 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.
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.

These 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 to the Registrar of Companies.

The financial statements were approved by the board of directors on 29 September 2025 and were signed on its behalf by:

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Mr S Walsh
Director

Lakeland Carbons Limited
Notes to the Financial Statements
For the year ended 31 December 2024

General Information

Lakeland Carbons Limited is a private company, limited by shares, registered in England and Wales, registration number 02638221, registration address 14A Hartness Road, Gilwilly Industrial Estate, Penrith, Cumbria, CA11 9BD. The trading address of the company is Flusco Works, Flusco, Cumbria, CA11 0JA.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Land and Buildings	10% Straight Line
Plant and Machinery	25% Reducing Balance
Computer Equipment	25% Reducing Balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 6 (2023 : 6).

Tangible fixed assets

Cost or valuation	Land and Buildings	Plant and Machinery	Computer Equipment	Total
	£	£	£	£
At 01 January 2024	21,085	360,201	825	382,111
Additions	-	-	-	-
Disposals	-	-	-	-
At 31 December 2024	21,085	360,201	825	382,111
Depreciation
At 01 January 2024	20,042	335,593	749	356,384
Charge for year	208	6,152	19	6,379
On disposals	-	-	-	-
At 31 December 2024	20,250	341,745	768	362,763
Net book values
Closing balance as at 31 December 2024	835	18,456	57	19,348
Opening balance as at 01 January 2024	1,043	24,608	76	25,727

Stocks

	2024 £	2023 £
Stocks & Finished Goods	149,790	106,105
Raw Materials	0	8,520
	149,790	114,625

Debtors: amounts falling due within one year

	2024 £		2023 £
Trade Debtors	63,512		55,638
	63,512		55,638

Creditors: amount falling due within one year

	2024 £	2023 £
Trade Creditors	39,057	28,840
Taxation and Social Security	22,055	21,367
Other Creditors	24,804	24,051
	85,916	74,258

Provisions for liabilities

	2024 £		2023 £
Deferred Tax	2,696		4,107
	2,696		4,107

Share Capital

Allotted, called up and fully paid	2024 £	2023 £
1,000 Class A shares of £1.00 each	1,000	1,000
40 Class B shares of £1.00 each	40	40
	1,040	1,040

Related Party Disclosures

During the year the company paid £0 dividends to its Directors, in their capacity as Shareholders (2023, £0).

During the year the company was charged an administration
fee of £10,200 (2023, £10,200) by Inglewood Properties Ltd.

During the year the Company paid rent of £11,000 (2023, £11,000) to Inglewood Properties Ltd.

Mr N J Harrison a director of this company is also a director of Inglewood Properties Ltd.

Mr N J Harrison had a loan account with the company and at the 31st December 2024 the company owed him £10,000
(2023, £10,000). No interest has been charged on this loan.

Mr S Walsh had a loan account with the company and at the 31st December 2024 the company owed him £1,088.

Mr N J Harrison has offered a personal guarantee in respect of the company borrowings.

Registered Number: 02638221
England and Wales
LAKELAND CARBONS LIMITED

Unaudited Financial Statements

Period of accounts Start date: 01 January 2024 End date: 31 December 2024