North Lakes Energy Limited


Directors	MCLINDEN, Helen Lesley
	MCLINDEN, James Edward


Company Secretary	MCLINDEN, Helen Lesley


Registered Address	Unit I Baron Way
	Kingmoor Business Park
	Carlisle
	CA6 4SJ


Registered Number	10994971 (England and Wales)

Statement of Financial Position
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		15,714		18,765
			15,714		18,765
Current assets
Stocks		-		154,000
Debtors	4	180,483		37,677
Cash at bank and on hand		6,389		11,969
		186,872		203,646
Creditors amounts falling due within one year	5	(243,605)		(242,556)
Net current assets (liabilities)			(56,733)		(38,910)
Total assets less current liabilities			(41,019)		(20,145)
Creditors amounts falling due after one year	6		(1,088)		(7,614)
Net assets			(42,107)		(27,759)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(42,207)		(27,859)
Shareholders' funds			(42,107)		(27,759)

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 19 December 2025, and are signed on its behalf by:

MCLINDEN, James Edward
Director
Registered Company No. 10994971

North Lakes Energy Limited

Notes to the Financial Statements
for the year ended 31 March 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.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	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

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	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 Statement of Income. Depreciation is provided on all tangible fixed assets as follows: Leasehold improvements - 5 years/10 years straight line Fixtures and fittings - 10% reducing balance Office equipment - 2 years straight line/10% reducing balance

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 Statement of Income.

Depreciation is provided on all tangible fixed assets as follows:

Leasehold improvements - 5 years/10 years straight line
Fixtures and fittings          - 10% reducing balance
Office equipment              - 2 years straight line/10% reducing balance

	Finance leases and hire purchase contracts
	Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term. Where the company is a lessor rental income from operating leases is credited to the Income Statement on a straight line basis over the lease term.

	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.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	25,605	2,074	4,825	32,504
At 31 March 25	25,605	2,074	4,825	32,504
Depreciation and impairment
At 01 April 24	11,745	925	1,069	13,739
Charge for year	2,561	115	375	3,051
At 31 March 25	14,306	1,040	1,444	16,790
Net book value
At 31 March 25	11,299	1,034	3,381	15,714
At 31 March 24	13,860	1,149	3,756	18,765

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	8,874	33,648
Other debtors	129,355	2,038
Prepayments and accrued income	42,254	1,991
Total	180,483	37,677

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	138,697	146,698
Bank borrowings and overdrafts	6,526	6,526
Other creditors	96,291	88,042
Accrued liabilities and deferred income	2,091	1,290
Total	243,605	242,556

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	1,088	7,614
Total	1,088	7,614

7.	Other commitments
	At 31 March 2025 the company had future minimum lease payments under non-cancellable operating leases of £39,063 (2024 - £47,908).