Company No: 05880791 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	363,215		393,483
Tangible assets	4	2,359,206		2,295,321
		2,722,421		2,688,804
Current assets
Stocks		5,507		5,236
Debtors
- due within one year	5	40,978		26,044
- due after more than one year	5	0		3,400
Cash at bank and in hand		377,773		190,345
		424,258		225,025
Creditors: amounts falling due within one year	6	( 353,892)		( 328,522)
Net current assets/(liabilities)		70,366		(103,497)
Total assets less current liabilities		2,792,787		2,585,307
Creditors: amounts falling due after more than one year	7	( 259,219)		( 346,137)
Provision for liabilities	8	( 65,745)		( 52,563)
Net assets		2,467,823		2,186,607
Capital and reserves
Called-up share capital		100		100
Profit and loss account		2,467,723		2,186,507
Total shareholders' funds		2,467,823		2,186,607

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of Lakeshore Healthcare Limited (registered number: 05880791) were approved and authorised for issue by the Director. They were signed on its behalf by:

Jeffrey Winslow Manning Director

29 September 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lakeshore Healthcare Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 80 Grove Lane, Holt, NR25 6ED, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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.

Government Grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are creditors to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

Borrowing Costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

20 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	15 % reducing balance
	not depreciated
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	47		46

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2024	605,359		605,359
At 31 December 2024	605,359		605,359
Accumulated amortisation
At 01 January 2024	211,876		211,876
Charge for the financial year	30,268		30,268
At 31 December 2024	242,144		242,144
Net book value
At 31 December 2024	363,215		363,215
At 31 December 2023	393,483		393,483

4. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 January 2024	2,296,635		5,750		150,592		2,452,977
Additions	86,874		0		0		86,874
At 31 December 2024	2,383,509		5,750		150,592		2,539,851
Accumulated depreciation
At 01 January 2024	25,794		4,793		127,069		157,656
Charge for the financial year	16,869		239		5,881		22,989
At 31 December 2024	42,663		5,032		132,950		180,645
Net book value
At 31 December 2024	2,340,846		718		17,642		2,359,206
At 31 December 2023	2,270,841		957		23,523		2,295,321

5. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	23,017		0
Prepayments	14,561		22,744
Other debtors	3,400		3,300
	40,978		26,044
Debtors: amounts falling due after more than one year
Other debtors	0		3,400

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans (secured)	67,036		116,691
Trade creditors	68,088		10,607
Amounts owed to director	24,135		6,760
Accruals and deferred income	34,483		49,311
Corporation tax	92,055		84,716
Other taxation and social security	22,695		24,496
Other creditors	45,400		35,941
	353,892		328,522

Obligations under the bank loans are mainly secured against the property owned.

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans (secured)	5,219		76,137
Other creditors	254,000		270,000
	259,219		346,137

Obligations under bank loans are mainly secured against the property owned.

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 52,563)		( 45,150)
Charged to the Income Statement	( 13,182)		( 7,413)
At the end of financial year	( 65,745)		( 52,563)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	( 66,209)		( 52,707)
Revaluation of tangible assets	464		144
	( 65,745)		( 52,563)

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £52,770 (2023 - £18,048).

	2024		2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	5,190		0

10. Related party transactions

At the year end the director was owed £24,135 (2023 - £6,760) which is repayable on demand, plus an additional £254,000 (2023 - £270,000) in the form of a long term loan on which interest is payable at 6% per annum. The long-term director loan is not repayable without 366 days-notice, unless the company is in a financial position, and wishes, to do so earlier.