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REGISTERED NUMBER: 00975745

| Unaudited Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| Lakeside & Haverthwaite Railway Co Ltd |

| Lakeside & Haverthwaite Railway Co Ltd (Registered number: 00975745) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Lakeside & Haverthwaite Railway Co Ltd |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | Mr M A Maher

| Mr S J Maher

| Mr G D Magee

| Mrs K M Maher

| Mr A C Maher

| Mr J P Maher

| SECRETARY: | Mr M A Maher

| REGISTERED OFFICE: | Haverthwaite Station

| Newby Bridge

| Nr Ulverston

| Cumbria

| LA12 8AL

| REGISTERED NUMBER: | 00975745

| ACCOUNTANTS: | Haywoods

| 2nd Floor

| 11A Institute Street

| Bolton

| BL1 1PZ

| BANKERS: | HSBC Bank plc

| 104 Duke Street

| Barrow in Furness

| Cumbria

| LA14 1LR

| Lakeside & Haverthwaite Railway Co Ltd (Registered number: 00975745) |

Balance Sheet

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 581,635 |  | 311,024 |  |

CURRENT ASSETS

Stocks | 40,481 |  | 47,189 |  |

Debtors | 5 | 101,122 |  | 143,565 |  |

Cash at bank and in hand | 558,557 |  | 374,126 |  |

700,160 |  | 564,880 |  |

CREDITORS

Amounts falling due within one year | 6 | (331,740 | ) | (158,371 | ) |

NET CURRENT ASSETS | 368,420 |  | 406,509 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 950,055 |  | 717,533 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (2,500 | ) | (17,527 | ) |

NET ASSETS | 947,555 |  | 700,006 |  |

CAPITAL AND RESERVES

Called up share capital | 50,416 |  | 50,416 |  |

Share premium | 140,574 |  | 140,574 |  |

Retained earnings | 756,565 |  | 509,016 |  |

SHAREHOLDERS' FUNDS | 947,555 |  | 700,006 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

| Lakeside & Haverthwaite Railway Co Ltd (Registered number: 00975745) |

Balance Sheet - continued

31 December 2025

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 Board of Directors and authorised for issue on 27 April 2026 and were signed on its behalf by:

Mrs K M Maher - Director

| Lakeside & Haverthwaite Railway Co Ltd (Registered number: 00975745) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Lakeside & Haverthwaite Railway Co Ltd is a private company, limited by shares , registered in Not specified/Other. 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

| 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 the cost less estimated residual value of each asset over its estimated useful life.

| Land and buildings | - | 5% on cost

| Plant and machinery etc | - | 25% on reducing balance, 20% on cost and 10% on cost

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Hire purchase and leasing commitments

| 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 24 (2024 - 26 ) .

| Lakeside & Haverthwaite Railway Co Ltd (Registered number: 00975745) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 422,071 |  | 551,956 |  | 974,027 |  |

| Additions | - |  | 315,012 |  | 315,012 |  |

| Disposals | - |  | (2,750 | ) | (2,750 | ) |

| At 31 December 2025 | 422,071 |  | 864,218 |  | 1,286,289 |  |

| DEPRECIATION

| At 1 January 2025 | 208,353 |  | 454,650 |  | 663,003 |  |

| Charge for year | 14,756 |  | 29,529 |  | 44,285 |  |

| Eliminated on disposal | - |  | (2,634 | ) | (2,634 | ) |

| At 31 December 2025 | 223,109 |  | 481,545 |  | 704,654 |  |

| NET BOOK VALUE

| At 31 December 2025 | 198,962 |  | 382,673 |  | 581,635 |  |

| At 31 December 2024 | 213,718 |  | 97,306 |  | 311,024 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | (385 | ) | 3,195 |  |

| Other debtors | 101,507 |  | 140,370 |  |

101,122 |  | 143,565 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 3,261 |  | 7,800 |  |

| Hire purchase contracts | 10,000 |  | 10,000 |  |

| Trade creditors | 64,030 |  | - |  |

| Taxation and social security | 40,951 |  | 46,299 |  |

| Other creditors | 213,498 |  | 94,272 |  |

331,740 |  | 158,371 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | - |  | 5,027 |  |

| Hire purchase contracts | 2,500 |  | 12,500 |  |

2,500 |  | 17,527 |  |

| Lakeside & Haverthwaite Railway Co Ltd (Registered number: 00975745) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

8. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank Loan | 3,260 |  | 12,827 |  |

| The bank loan is secured by a debenture, including an equitable charge over all present and future freehold and leasehold property, together with a first fixed & floating charge over all debts owed to the company and all assets and undertakings of the company.