Lakeland Timber Frame Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 04020706

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		126,534		151,911

			126,534		151,911
CURRENT ASSETS
Stocks	5	307,000		290,000
Debtors	6	116,894		289,127
Cash at bank and in hand		172,995		131,801

		596,889		710,928
Creditors: Amounts Falling Due Within One Year	7	(457,415 )		(409,370 )

NET CURRENT ASSETS (LIABILITIES)			139,474		301,558

TOTAL ASSETS LESS CURRENT LIABILITIES			266,008		453,469

Creditors: Amounts Falling Due After More Than One Year	8		-		(30,312 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(31,633 )		(26,102 )

NET ASSETS			234,375		397,055

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			234,275		396,955

SHAREHOLDERS' FUNDS			234,375		397,055

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Lakeland Timber Frame Limited

Balance Sheet (continued)

As At 31 August 2025

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

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr K T Cordukes

Director

29/05/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Lakeland Timber Frame Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number 04020706 . The registered office is Unit 38c Holme Mills, Holme, Carnforth, Lancashire, LA6 1RD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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 is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% straight line
Plant & Machinery	15% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	15% reducing balance
Computer Equipment	33% straight line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Lakeland Timber Frame Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2024: 16)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 September 2024	24,230	366,946	68,626	7,278

As at 31 August 2025	24,230	366,946	68,626	7,278

Depreciation
As at 1 September 2024	24,230	232,309	54,596	5,659
Provided during the period	-	20,195	3,508	243

As at 31 August 2025	24,230	252,504	58,104	5,902

Net Book Value
As at 31 August 2025	-	114,442	10,522	1,376

As at 1 September 2024	-	134,637	14,030	1,619


	Computer Equipment	Total
	£	£
Cost
As at 1 September 2024	26,376	493,456

As at 31 August 2025	26,376	493,456

Depreciation
As at 1 September 2024	24,751	341,545
Provided during the period	1,431	25,377

As at 31 August 2025	26,182	366,922

Net Book Value
As at 31 August 2025	194	126,534

As at 1 September 2024	1,625	151,911

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Lakeland Timber Frame Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

5. Stocks

	2025	2024
	£	£
Raw materials	120,000	120,000
Work in progress	187,000	170,000

	307,000	290,000

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	34,545	111,910
Prepayments and accrued income	28,230	29,026
Staff loan	2,463	6,163
S455	24,155	24,155
VAT	27,501	33,577
Director's loan account	-	84,296

	116,894	289,127

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	355,579	330,742
Bank loans and overdrafts	-	11,282
Corporation tax	(2,760 )	7,979
Other taxes and social security	14,888	20,182
Other creditors	2,382	-
CBIL loan < 1 year	30,308	36,374
Capital on tap	19,565	-
Accruals and deferred income	2,666	2,811
Director's loan account	34,787	-

	457,415	409,370

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
CBIL loan > 1 year	-	30,312

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

10. Directors Advances, Credits and Guarantees

At 31 August 2024 the director loan balance was £34,787 credit (2024 - £84,296 debit).

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