Company registration number 00778682 (England and Wales)
LAKENHILL PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
PAGES FOR FILING WITH REGISTRAR
LAKENHILL PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
LAKENHILL PROPERTIES LIMITED
BALANCE SHEET
AS AT 31 JULY 2025
31 July 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
46,584
22,183
Current assets
Stocks
30,000
30,000
Debtors
5
31,105
51,846
Cash at bank and in hand
685,600
536,040
746,705
617,886
Creditors: amounts falling due within one year
6
(331,494)
(263,792)
Net current assets
415,211
354,094
Total assets less current liabilities
461,795
376,277
Creditors: amounts falling due after more than one year
7
(4,783)
(19,317)
Provisions for liabilities
8
(11,647)
-
Net assets
445,365
356,960
Capital and reserves
Called up share capital
9
5,000
5,000
Profit and loss reserves
440,365
351,960
Total equity
445,365
356,960
LAKENHILL PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2025
31 July 2025
- 2 -

For the financial year ended 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 April 2026 and are signed on its behalf by:
J Cheshire
Director
Company registration number 00778682 (England and Wales)
LAKENHILL PROPERTIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2025
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2023
5,000
156,397
161,397
Year ended 31 July 2024:
Profit and total comprehensive income
-
195,563
195,563
Balance at 31 July 2024
5,000
351,960
356,960
Year ended 31 July 2025:
Profit and total comprehensive income
-
170,905
170,905
Dividends
-
(82,500)
(82,500)
Balance at 31 July 2025
5,000
440,365
445,365
LAKENHILL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 4 -
1
Accounting policies
Company information

Lakenhill Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 32-36 Brasenose Road, Bootle, Merseyside, L20 8HG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Turnover represents the sales value of services provided during the year net of value added tax.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold property
10% straight line
Plant and machinery
15% reducing balance
Fixtures and fittings
25% reducing balance
IT equipment
33% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

LAKENHILL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 5 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

LAKENHILL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
7
6
3
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
46,958
67,166
Adjustments in respect of prior periods
-
0
5,154
Total current tax
46,958
72,320
Deferred tax
Origination and reversal of timing differences
11,647
-
0
Total tax charge
58,605
72,320
LAKENHILL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 7 -
4
Tangible fixed assets
Short leasehold
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2024
43,777
64,962
108,739
Additions
-
0
47,495
47,495
Disposals
-
0
(48,838)
(48,838)
At 31 July 2025
43,777
63,619
107,396
Depreciation and impairment
At 1 August 2024
34,135
52,421
86,556
Depreciation charged in the year
4,378
8,935
13,313
Eliminated in respect of disposals
-
0
(39,057)
(39,057)
At 31 July 2025
38,513
22,299
60,812
Carrying amount
At 31 July 2025
5,264
41,320
46,584
At 31 July 2024
9,642
12,541
22,183
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
18,920
40,228
Amounts owed by connected company
840
-
0
Other debtors
11,345
11,618
31,105
51,846
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Trade creditors
44,512
38,420
Corporation tax
53,531
67,166
Other taxation and social security
5,055
6,043
Other creditors
218,396
142,163
331,494
263,792
LAKENHILL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 8 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
4,783
14,908
Other creditors
-
0
4,409
4,783
19,317

In 2020 the company was granted a £50,000 government backed bounce back loan. The balance outstanding at 31 July 2025 was £14,783 (2024: £24,908) which is secured by the Government.

In 2012 the company received a loan of £95,000 from the pension funds of J & E Cheshire, directors. The balance outstanding at 31 July 2025 was £86,650 (2024: £86,650) which is unsecured.

8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
11,647
-
2025
Movements in the year:
£
Liability at 1 August 2024
-
Charge to profit or loss
11,647
Liability at 31 July 2025
11,647
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
5,000
5,000
5,000
5,000
LAKENHILL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 9 -
10
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
57,000
69,000
11
Related party transactions

The company, which has a common director and shareholder with Flexiwall Company Limited, provided Flexiwall Company Limited an interest free loan during the year - the balance outstanding as at 31 July 2025 is £840 (2024: £NIL).

At the year end, a balance of £96,302 (2024: £13,238) was owed to Mr J Cheshire, Director. The loan is interest free and repayable on demand.

At the year end, a balance of £86 (2024: £86) was owed by Mr R Fiddies, Director. The loan is interest free and repayable on demand.

Mr J & Mrs E Cheshire, directors, have provided a loan of £86,650 (2024: £86,650) to the company from their pension funds.

At the year end, a balance of £28,500 (2024: £34,500) rent was owed by the company to the pension fund of Mr J & Mrs E Cheshire, Director. The amount due is interest free and repayable on demand.

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