REGISTERED NUMBER: 05156621 (England and Wales)

LAKES GARAGE DOORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr J A Darnell

Mrs H V V Darnell

Secretary:

Mrs H V V Darnell

Registered office:

Unit 5 Leachfield Industrial Estate

Green Lane West

GARSTANG

PR3 1PR

Registered number:

05156621 (England and Wales)

Accountants:

Xeinadin

Dalton House

9 Dalton Square

LANCASTER

LA1 1WD

Fixed assets

Tangible assets

4

453,473

366,035

Current assets

Stocks

19,169

82,150

Debtors

5

166,090

167,810

Cash at bank and in hand

155,958

36,143

341,217

286,103

Creditors

Amounts falling due within one year

6

609,999

571,367

Net current liabilities

(268,782

)

(285,264

)

Total assets less current liabilities

184,691

80,771

Creditors

Amounts falling due after more than one year

7

(111,800

)

-

Provisions for liabilities

(72,354

)

(62,521

)

Net assets

537

18,250

Capital and reserves

Called up share capital

100

100

Retained earnings

437

18,150

537

18,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mrs H V V Darnell - Director

1.	Statutory information

Lakes Garage Doors Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, for goods and services provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a good or service to the customer.

Tangible fixed assets

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

Leasehold improvements

-

Straight line over 10 years and Straight line over 5 years

Plant and machinery etc

-

25% on reducing balance, 25% on cost and 15% Reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, 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 Statement of Income and Retained Earnings, 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 10 (2024 - 11 ) .

4.	Tangible fixed assets

Plant and

Leasehold

machinery

improvements

etc

Totals

£

£

£

Cost

At 1 April 2024

462,730

187,439

650,169

Additions

99,848

71,162

171,010

Disposals

-

(8,426

)

(8,426

)

At 31 March 2025

562,578

250,175

812,753

Depreciation

At 1 April 2024

188,957

95,177

284,134

Charge for year

59,229

21,677

80,906

Eliminated on disposal

-

(5,760

)

(5,760

)

At 31 March 2025

248,186

111,094

359,280

Net book value

At 31 March 2025

314,392

139,081

453,473

At 31 March 2024

273,773

92,262

366,035

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

30,555

78,264

Other debtors

135,535

89,546

166,090

167,810

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

83,741

94,681

Taxation and social security

9,615

8,727

Other creditors

516,643

467,959

609,999

571,367

7.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Other creditors

111,800

-

8.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

20,625

30,000

Between one and five years

66,000

50,625

86,625

80,625

9.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr J A Darnell

Balance outstanding at start of year

(731

)

(499

)

Amounts advanced

99,270

39,776

Amounts repaid

(36,624

)

(40,008

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

61,915

(731

)

Directors' advances are repayable on demand.