LAKESIDE_ESTATES_UK_LIMITED_31_Mar_2025_companies_house_set_of

LAKESIDE ESTATES (UK) LIMITED

Report to the board of directors on the preparation of the unaudited statutory financial statements of LAKESIDE ESTATES (UK) LIMITED

Year ended

31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements

LAKESIDE ESTATES (UK) LIMITED

for the year ended

31 March 2025

which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.

This report is made solely to the Board of Directors of

LAKESIDE ESTATES (UK) LIMITED

, as a body. Our work has been undertaken solely to prepare for your approval the

financial statements

LAKESIDE ESTATES (UK) LIMITED

and state those matters that we have agreed to state to the Board of Directors of

LAKESIDE ESTATES (UK) LIMITED

, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than

LAKESIDE ESTATES (UK) LIMITED

and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that

LAKESIDE ESTATES (UK) LIMITED

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and profit of

LAKESIDE ESTATES (UK) LIMITED

. You consider that

LAKESIDE ESTATES (UK) LIMITED

is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of LAKESIDE ESTATES (UK) LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

PRESTIGE ACCOUNTS LIMITED

CHARTERED CERTIFIED ACCOUNTANTS & CHARTERED TAX ADVISERS

16 KHARTOUM ROAD

ILFORD

IG1 2NP

United Kingdom

Date:

5 December 2025

LAKESIDE ESTATES (UK) LIMITED

Statement of Financial Position

31 March 2025

		2025		2024
	Note	£		£
Fixed assets
Tangible assets	5	283,752		283,976
Current assets
Debtors	6	58,596		56,136
Cash at bank and in hand		737		802
		59,333		56,938
Creditors: amounts falling due within one year	7	(22,518	)	(19,166	)
Net current assets		36,815		37,772
Total assets less current liabilities		320,567		321,748
Creditors: amounts falling due after more than one year	8	(196,897	)	(196,947	)
Net assets		123,670		124,801
Capital and reserves
Called up share capital		2		2
Other reserves		94,368		94,368
Profit and loss account		29,300		30,431
Shareholders funds		123,670		124,801

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

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.

These

financial statements

were approved by the board of directors and authorised for issue on

5 December 2025

, and are signed on behalf of the board by:

MR OLYMBOS PAISSIDES

Director

Company registration number:

04458240

LAKESIDE ESTATES (UK) LIMITED

Notes to the Financial Statements

Year ended

31 March 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

16 KHARTOUM ROAD

ILFORD

IG1 2NP

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services supplied in the financial year, net of trade discounts and Value Added Tax.

The turnover in the financial statements, represents rent receivable from letting out properties in the financial year.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land and buildings	Freehold investment properties are not depreciated, unless their estimated residual value is less than their disclosed value.
Plant and machinery	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

2.00

5 Tangible assets

	Land and buildings	Plant and machinery etc.	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	283,082	11,488	294,570
Depreciation
At 1 April 2024	-	10,594	10,594
Charge	-	224	224
At 31 March 2025	-	10,818	10,818
Carrying amount
At 31 March 2025	283,082	670	283,752
At 31 March 2024	283,082	894	283,976

The cost of the land and buildings shown above under tangible assets is relating to an investment property, which its value disclosed above is mainly on a valuation previously obtained . No valuation has been carried out for the company’s investment property in the financial year to 31 March 2025. Under the FRS 102 requirements, If a reliable measure of fair value is not available the investment property shall be transferred to tangible assets and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.

The above investment property has not been depreciated since the company’s directors consider the fair value of the property at the end of the financial year to be higher than the property’s carrying value disclosed in the accounts, as stated above.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Land and buildings	Land and buildings
	2025	2024
	£	£
Aggregate historical cost	188,714	188,714
Carrying amount	188,714	188,714

6 Debtors

	2025	2024
	£	£
Trade debtors	53,978	50,633
Other debtors	4,618	5,503
	58,596	56,136

The amount of other debtors shown above, includes the amount of £4,458 (£4,949 in 2024) relating to deferred tax asset on unrelieved tax allowable losses carried forward. The rest is relating to prepayments.

7 Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	159	641
Other creditors	22,359	18,525
	22,518	19,166

8 Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans and overdrafts	196,897		196,947

The loan shown above in 2025 and 2024, is a non-installment secured loan that falls due for repayment after more than five years.

9 Controlling party

The ultimate controlling party during the financial year was Mr Olymbos Paissides, who was also a director and he held 100% of the ordinary shares of the company.