Registration number: 13981834

Basecamp North Lakes Limited

Contents

Accountants' Report	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	4

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Basecamp North Lakes Limited
for the 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 accounts of Basecamp North Lakes Limited for the year ended 31 March 2025 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Basecamp North Lakes Limited, as a body, in accordance with the terms of our engagement letter dated 23 March 2022. Our work has been undertaken solely to prepare for your approval the accounts of Basecamp North Lakes Limited and state those matters that we have agreed to state to the Board of Directors of Basecamp North Lakes Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Basecamp North Lakes Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Basecamp North Lakes Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Basecamp North Lakes Limited. You consider that Basecamp North Lakes 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 accounts of Basecamp North Lakes 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 accounts.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

24 November 2025

Basecamp North Lakes Limited

(Registration number: 13981834)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,932,841	2,512,778
Current assets
Stocks		45,000	39,219
Debtors	5	23,276	32,062
Cash at bank and in hand		9,904	32,947
		78,180	104,228
Creditors: Amounts falling due within one year	6	(520,473)	(1,029,704)
Net current liabilities		(442,293)	(925,476)
Total assets less current liabilities		2,490,548	1,587,302
Creditors: Amounts falling due after more than one year	6	(1,974,993)	(1,901,751)
Net assets/(liabilities)		515,555	(314,449)
Capital and reserves
Allotted, called up and fully paid share capital		1,000,100	100
Profit and loss account		(484,545)	(314,549)
Total equity		515,555	(314,449)

Basecamp North Lakes Limited

(Registration number: 13981834)
Balance Sheet as at 31 March 2025 (continued)

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 November 2025 and signed on its behalf by:
 

.........................................

E Smalley

Director

.........................................

TD Barlow

Director

Basecamp North Lakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The principal place of business is:
Cocklakes
Troutbeck
PENRITH
CA11 0SG

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company has net liabilities at 31 March 2025 and meets its day to day working capital requirements through long and short-term loans provided by its shareholders. In addition the directors have provided financial support by way of short term loans. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its shareholders, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Basecamp North Lakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Other grants
Grants that do not impose specified future performance-related conditions on the recipient are recognised in the profit and loss account when the grant proceeds are received or receivable. Grants that impose future performance related conditions on the recipient are only recognised in the profit and loss account when the performance-related conditions are met.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	Not depreciated
Plant and equipment	15% reducing balance basis
Motor vehicles	25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Basecamp North Lakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Preference shares are classified as equity when the shares are redeemable in the future at the option of the company.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2024 - 33).

Basecamp North Lakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4	Tangible assets

	Land and buildings £	Plant and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	2,370,577	162,637	9,250	2,542,464
Additions	431,618	11,561	-	443,179
At 31 March 2025	2,802,195	174,198	9,250	2,985,643
Depreciation
At 1 April 2024	-	28,337	1,349	29,686
Charge for the year	-	21,141	1,975	23,116
At 31 March 2025	-	49,478	3,324	52,802
Carrying amount
At 31 March 2025	2,802,195	124,720	5,926	2,932,841
At 31 March 2024	2,370,577	134,300	7,901	2,512,778

5

Debtors

	2025 £	2024 £
Trade debtors	14,314	6,098
Other debtors	8,962	25,964
	23,276	32,062

Basecamp North Lakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	7	300,897	898,809
Trade creditors		191,160	116,295
Taxation and social security		7,636	6,991
Other creditors		20,780	7,609
		520,473	1,029,704
Due after one year
Loans and borrowings	7	1,901,751	1,901,751
Other creditors		73,242	-
		1,974,993	1,901,751

7	Loans and borrowings

	2025 £	2024 £
Current loans and borrowings
Other borrowings	300,897	898,809