LAKELAND RENOVATIONS LIMITED


Directors	SILVER, Katherine Mackenzie
	WOOD, Sheila Caroline


Registered Address	The Coach House
	Embleton
	Cockermouth
	CA13 9XP


Registered Number	08863741 (England and Wales)

Statement of Financial Position
31 January 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		54,047		54,047
			54,047		54,047
Current assets
Stocks	4	166,544		128,146
Cash at bank and on hand		4,009		8,254
		170,553		136,400
Creditors amounts falling due within one year	5	(145,277)		(119,918)
Net current assets (liabilities)			25,276		16,482
Total assets less current liabilities			79,323		70,529
Net assets			79,323		70,529
Capital and reserves
Called up share capital			1		1
Profit and loss account			79,322		70,528
Shareholders' funds			79,323		70,529

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 18 September 2025, and are signed on its behalf by:

SILVER, Katherine Mackenzie
Director
Registered Company No. 08863741

LAKELAND RENOVATIONS LIMITED

Notes to the Financial Statements
for the year ended 31 January 2025

1.	Accounting policies

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

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Land & buildings	Total
	£	£
Cost or valuation
At 01 February 24	54,047	54,047
At 31 January 25	54,047	54,047
Net book value
At 31 January 25	54,047	54,047
At 31 January 24	54,047	54,047

4.	Stocks

	2025	2024
	£	£
Work in progress	166,544	128,146
Total	166,544	128,146

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	2,063	738
Other creditors	142,653	118,659
Accrued liabilities and deferred income	561	521
Total	145,277	119,918