IRIS Accounts Production v25.4.12.37 02575308 Board of Directors 1.1.24 31.12.24 31.12.24 0 0 false true true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 02575308 2023-12-31 02575308 2024-12-31 02575308 2024-01-01 2024-12-31 02575308 2022-12-31 02575308 2023-01-01 2023-12-31 02575308 2023-12-31 02575308 ns15:EnglandWales 2024-01-01 2024-12-31 02575308 ns14:PoundSterling 2024-01-01 2024-12-31 02575308 ns10:Director1 2024-01-01 2024-12-31 02575308 ns10:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 02575308 ns10:SmallEntities 2024-01-01 2024-12-31 02575308 ns10:Audited 2024-01-01 2024-12-31 02575308 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 02575308 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02575308 ns10:FullAccounts 2024-01-01 2024-12-31 02575308 ns10:Director2 2024-01-01 2024-12-31 02575308 ns10:Director4 2024-01-01 2024-12-31 02575308 ns10:Director5 2024-01-01 2024-12-31 02575308 ns10:Director9 2024-01-01 2024-12-31 02575308 ns10:Director18 2024-01-01 2024-12-31 02575308 ns10:Director19 2024-01-01 2024-12-31 02575308 ns10:Director20 2024-01-01 2024-12-31 02575308 ns10:Director21 2024-01-01 2024-12-31 02575308 ns10:Director22 2024-01-01 2024-12-31 02575308 ns10:Director23 2024-01-01 2024-12-31 02575308 ns10:Director24 2024-01-01 2024-12-31 02575308 ns10:Director25 2024-01-01 2024-12-31 02575308 ns10:Director26 2024-01-01 2024-12-31 02575308 ns10:RegisteredOffice 2024-01-01 2024-12-31 02575308 ns10:Director3 2024-01-01 2024-12-31 02575308 ns10:Director6 2024-01-01 2024-12-31 02575308 ns10:Director10 2024-01-01 2024-12-31 02575308 ns10:Director14 2024-01-01 2024-12-31 02575308 ns10:Director16 2024-01-01 2024-12-31 02575308 ns10:Director7 2024-01-01 2024-12-31 02575308 ns10:Director8 2024-01-01 2024-12-31 02575308 ns10:Director11 2024-01-01 2024-12-31 02575308 ns10:Director12 2024-01-01 2024-12-31 02575308 ns10:Director13 2024-01-01 2024-12-31 02575308 ns10:Director15 2024-01-01 2024-12-31 02575308 ns10:Director17 2024-01-01 2024-12-31 02575308 ns5:CurrentFinancialInstruments 2024-12-31 02575308 ns5:CurrentFinancialInstruments 2023-12-31 02575308 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 02575308 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 02575308 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 02575308 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31

REGISTERED NUMBER: 02575308 (England and Wales)

| REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| FOR |

| LAKESIDE MERCHANTS ASSOCIATION LIMITED |

LAKESIDE MERCHANTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02575308) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

| Company Information | 1 |

| Report of the Directors | 2 |

| Report of the Independent Auditors | 4 |

| Income Statement | 7 |

| Balance Sheet | 8 |

| Notes to the Financial Statements | 9 |

| LAKESIDE MERCHANTS ASSOCIATION LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTORS: | S Allyman

| C W Armstrong

| C R Banks

| A D Jeffery

| G R P Bennett

| M Bridgeman

| S Carter

| T P Ellams

| E Hurley

| M I Ivey

| A Jafari

| K J Jolliffe

| K Massey

| E J Spendlove

| REGISTERED OFFICE: | 800 Lakeside Shopping Centre

| West Thurrock

| Grays

| RM20 2ZP

| REGISTERED NUMBER: | 02575308 (England and Wales)

| AUDITORS: | Websters

| Chartered Accountants and Statutory Auditors

| 12 Melcombe Place

| London

| NW1 6JJ

LAKESIDE MERCHANTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02575308) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company is to promote and advance further trading of the Lakeside Shopping Centre.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

S Allyman

C W Armstrong

C R Banks

A D Jeffery

Other changes in directors holding office are as follows:

S Anderson - resigned 12 April 2024

C Benson - appointed 4 September 2024

A Mifsud - appointed 17 July 2024 - resigned 7 November 2024

H Simpson - resigned 16 February 2024

J Snow - resigned 4 September 2024

G R P Bennett , M Bridgeman , S Carter , T P Ellams , E Hurley , M I Ivey , A Jafari , K J Jolliffe , K Massey and E J Spendlove were appointed as directors after 31 December 2024 but prior to the date of this report.

C Benson , G Booth , J L Connors , H Oldstein , E D T Page , A Patel , G Singh and S E Williamson ceased to be directors after 31 December 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

LAKESIDE MERCHANTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02575308) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

E J Spendlove - Director

9 February 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LAKESIDE MERCHANTS ASSOCIATION LIMITED

Opinion

We have audited the financial statements of Lakeside Merchants Association Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LAKESIDE MERCHANTS ASSOCIATION LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit; or

- | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

There are inherent limitations in our audit procedures. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LAKESIDE MERCHANTS ASSOCIATION LIMITED

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Goddard (Senior Statutory Auditor)

for and on behalf of Websters

Chartered Accountants and Statutory Auditors

12 Melcombe Place

London

NW1 6JJ

9 February 2026

LAKESIDE MERCHANTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02575308) |

INCOME STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

| 31.12.24 |  | 31.12.23

| Notes | £ | £ |

TURNOVER | 1,348,479 |  | 1,421,456 |  |

Cost of sales | (1,733,567 | ) | (1,531,622 | ) |

GROSS LOSS | (385,088 | ) | (110,166 | ) |

Administrative expenses | (56,944 | ) | (66,607 | ) |

OPERATING LOSS | 4 | (442,032 | ) | (176,773 | ) |

Interest receivable and similar income | 17,046 |  | 27,967 |  |

LOSS BEFORE TAXATION | (424,986 | ) | (148,806 | ) |

Tax on loss | (3,239 | ) | (5,314 | ) |

LOSS FOR THE FINANCIAL YEAR | (428,225 | ) | (154,120 | ) |

LAKESIDE MERCHANTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02575308) |

BALANCE SHEET

31 DECEMBER 2024

| 31.12.24 |  | 31.12.23

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 5 | 910,717 |  | 805,084 |  |

Cash at bank | 519,280 |  | 568,937 |  |

1,429,997 |  | 1,374,021 |  |

CREDITORS

Amounts falling due within one year | 6 | (1,191,126 | ) | (706,925 | ) |

NET CURRENT ASSETS | 238,871 |  | 667,096 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 238,871 |  | 667,096 |  |

RESERVES

Retained earnings | 238,871 |  | 667,096 |  |

238,871 |  | 667,096 |  |

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2026 and were signed on its behalf by:

E J Spendlove - Director

LAKESIDE MERCHANTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02575308) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Lakeside Merchants Association Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

| Turnover

| The leaseholdeers of retail outlets at Lakeside Shopping Centre pay a subscription to the Company based on a budget agreed by them. The subscription period runs from 1 January to 31 December.

| Turnover represents the net subscriptions and other considerations receivable by the Company for services, excluding VAT.

| Taxation

| As the Company is a mutual trading company, only the interest receivable is subject to taxation.

3. | EMPLOYEES AND DIRECTORS

| There were 14 employees (all directors) during the year (2023 : 13). No remuneration was paid to any of the directors in either year.

4. | OPERATING LOSS

| The loss before tax of £424,986 (2023 : £148,806) is after charging auditors' remuneration of £10,000 (2023 : £12,650).

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 233,998 |  | 257,691 |  |

| Amounts owed by related parties | 337,149 |  | 241,875 |  |

| Other debtors | 339,570 |  | 305,518 |  |

910,717 |  | 805,084 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade creditors | 771,321 |  | 475,006 |  |

| Taxation and social security | 8,637 |  | 7,354 |  |

| Other creditors | 411,168 |  | 224,565 |  |

1,191,126 |  | 706,925 |  |

7. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

| In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and to assist with the preparation of the financial statements.

LAKESIDE MERCHANTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02575308) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

8. | RELATED PARTY TRANSACTIONS

| Lakeside Centre Limited and Savills UK Limited are considered to be related parties by virtue of their influence over the Company's marketing activities.

| During the year the Company received subscription income of £484,152 (2023.: £583,155) from Lakeside Centre Limited. There were no transactions during the year with Savills UK Limited.