REGISTERED NUMBER: 13503599 (England and Wales)

Unaudited Financial Statements

For The Year Ended 30 April 2025

for

The Lakes Development Rushden Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Haines

REGISTERED OFFICE:

Ditchford Mill

Ditchford Road

Wellingborough

Northamptonshire

NN8 1RL

REGISTERED NUMBER:

13503599 (England and Wales)

ACCOUNTANTS:

TC Bromhead Limited

Harscombe House

1 Darklake View

Plymouth

Devon

PL6 7TL

FIXED ASSETS

Tangible assets

4

352,147

58,594

Investment property

5

4,000,000

2,500,000

4,352,147

2,558,594

CURRENT ASSETS

Debtors

6

63,695

43,091

Cash at bank

9,319

12,599

73,014

55,690

CREDITORS

Amounts falling due within one year

7

3,355,119

977,015

NET CURRENT LIABILITIES

(3,282,105

)

(921,325

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,070,042

1,637,269

CREDITORS

Amounts falling due after more than one year

8

(39,409

)

(40,092

)

PROVISIONS FOR LIABILITIES

(474,284

)

(286,725

)

NET ASSETS

556,349

1,310,452

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

556,249

1,310,352

556,349

1,310,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 10 September 2025 and were signed by:

D Haines - Director

1.	STATUTORY INFORMATION

The Lakes Development Rushden Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis not withstanding that at 30 April 2024 the company had net current liabilities of £921,326. The directors believe this basis to be appropriate and have agreed to provide funds as necessary to meet the day to day running costs of the business for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment property is shown at fair value at the year end. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2024

62,500

Additions

369,843

At 30 April 2025

432,343

DEPRECIATION

At 1 May 2024

3,906

Charge for year

76,290

At 30 April 2025

80,196

NET BOOK VALUE

At 30 April 2025

352,147

At 30 April 2024

58,594

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 May 2024

62,500

Additions

268,602

At 30 April 2025

331,102

DEPRECIATION

At 1 May 2024

3,906

Charge for year

59,416

At 30 April 2025

63,322

NET BOOK VALUE

At 30 April 2025

267,780

At 30 April 2024

58,594

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

2,500,000

Additions

1,989,113

Revaluations

(489,113

)

At 30 April 2025

4,000,000

NET BOOK VALUE

At 30 April 2025

4,000,000

At 30 April 2024

2,500,000

Fair value at 30 April 2025 is represented by:

£

Valuation in 2024

2,325,940

Cost

1,674,060

4,000,000

If the investment property had not been revalued it would have been included at the following historical cost:

30.4.25

30.4.24

£

£

Cost

1,674,060

947,197

Investment property was valued on an open market basis on 30 April 2025 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Trade debtors

49,346

432

Other debtors

14,349

42,659

63,695

43,091

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Bank loans and overdrafts

374,792

-

Finance leases

81,357

26,250

Trade creditors

275,276

27,258

Taxation and social security

76,776

-

Other creditors

2,546,918

923,507

3,355,119

977,015

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.25

30.4.24

£

£

Finance leases

39,409

40,092

9.	RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest, companies in which the entity has a participating interest and directors were all concluded under normal market conditions.