Lakes Ealand Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13196335

Lakes Ealand Ltd

Filleted Unaudited Financial Statements

31 March 2025

Lakes Ealand Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Current assets

Stocks		353,393	–
Debtors	5	521,370	660,810
Cash at bank and in hand		1,296	533
		---------	---------
		876,059	661,343

Creditors: amounts falling due within one year	6	700,702		488,617
		---------		---------
Net current assets			175,357	172,726
			---------	---------
Total assets less current liabilities			175,357	172,726
			---------	---------
Net assets			175,357	172,726
			---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	175,257	172,626
	---------	---------
Shareholders funds	175,357	172,726
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 6 November 2025 , and are signed on behalf of the board by:

Mr J T E Wroot

Director

Company registration number: 13196335

Lakes Ealand Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Brewery Road, Crowle, Scunthorpe, DN17 4LT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Debtors

	2025	2024
	£	£
Trade debtors	9,600	46,500
Amounts owed by group undertakings and undertakings in which the company has a participating interest	511,120	614,310
Other debtors	650	–
	---------	---------
	521,370	660,810
	---------	---------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	353,896	–
Trade creditors	153,632	200,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest	111,814	209,814
Corporation tax	664	513
Social security and other taxes	2,231	–
Other creditors	78,465	78,290
	---------	---------
	700,702	488,617
	---------	---------

The company received a loan from Together Commercial Finance Ltd on 28 March 2025 of £353,896 to acquire a plot of land at Cherry Tree Farm, Crowle Road, Eastoft, DN17 4PH. This loan remained outstanding at 31 March 2025 and is secured by a legal charge over this plot of land.

Lakes Ealand Ltd obtained a loan of £353,896 from Together Commercial Finance Ltd on 28 March 2025 to acquire a development plot of land at Cherry Tree Farm, Eastoft, DN17 4PH. This loan was partially secured against an unsold property (2 Willow Close, Ealand, DN17 4FJ) owned by Lakes Ealand 18 Ltd (an associated company of Lakes Ealand Ltd ). This loan remained outstanding at 31 March 2025.

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2025	2024
	£	£
Mr J T E Wroot	( 38,933)	( 38,933)
Mrs C Wroot	( 38,932)	( 38,932)
	--------	--------
	( 77,865)	( 77,865)
	--------	--------

8. Related party transactions

The directors of the company, Jonathan and Clare Wroot, both holding 50% of the issued share capital of the company, are also directors and shareholders of Wroot Contracts Ltd (each owning one-third of the issued share capital of that company), Wroot Homes Ltd (each owning 50% of the issued share capital of that company, Lakes Ealand 18 Ltd (each owning 50% of the issued share capital of that company), Flaxmill Way Ltd (a wholly owned subsidiary of Lakes Ealand 18 Ltd), and Lakes Ealand Management Ltd (each owning 50% of the share capital of that company). During 2021, Lakes Ealand 18 Ltd and this company acquired adjoining building sites in Crowle. The first phase of this development, undertaken by this company, began during April 2021 and was completed during July 2022. The second phase, undertaken by Lakes Ealand 18 Ltd, began during March 2022 and was completed during September 2023. The third phase of this development, undertaken by this company and its subsidiary company (Flaxmill Way Ltd) commenced during June 2023. During the year ended 31 March 2024, the company was supplied with goods and services from Wroot Homes Ltd amounting to £nil (2023: £nil) in connection with the above development. At 31 March 2025, the company still owed Wroot Homes Ltd £202,533 in connection with goods and services provided in earlier years. Wroot Homes Ltd has previously advanced loans to the company, £98,000 of which remained outstanding at 31 March 2024. The company received a further advance of £8,000 from Wroot Homes Ltd during the year ended 31 March 2025, but advanced £135,814 to Wroot Homes Ltd during the same period. At 31 March 2025, Wroot Homes Ltd owed the company £29,814. During the year ended 31 March 2022, Wroot Homes Ltd also advanced two further separate loans to the company, one for £43,872 and another for £67,943. Both these loans remained outstanding at 31 March 2025. During the year ended 31 March 2024, Lakes Ealand Ltd recharged expenses of £8,000 (plus vat) to Wroot Homes Ltd. The amount owed to Lakes Ealand Ltd at 31 March 2024 remained at £8,000 (plus vat). During the year ended 31 March 2024, Lakes Ealand 18 Ltd supplied goods and services to the company amounting to £nil (2024: £nil). During the year to 31 March 2023, the company advanced various loans to Lakes Ealand 18 Ltd, of which £614,310 was owed to the company at 31 March 2024. During the year ended 31 March 2025 the company advanced a further loan to Lakes Ealand 18 Ltd of £1,500 and Lakes Ealand 18 Ltd repaid amounts totalling £144,504, leaving a balance outstanding at 31 March 2025 of £481,306.