Company Registration number: 10209205

Lakeland Kitchens Limited

Contents

Pages

Balance sheet	1 to 2
Notes to the financial statements	3 to 9

Lakeland Kitchens Limited

Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	278,761	296,296
Current assets
Stocks	5	28,880	57,706
Debtors	6	328,059	443,073
Cash at bank and in hand		-	49,817
		356,939	550,596
Creditors: Amounts falling due within one year	8	(466,049)	(505,252)
Net current (liabilities)/assets		(109,110)	45,344
Total assets less current liabilities		169,651	341,640
Creditors: Amounts falling due after more than one year	8	(80,486)	(171,899)
Provisions for liabilities		(51,951)	(43,629)
Net assets		37,214	126,112
Capital and reserves
Called up share capital	9	100	100
Retained earnings		37,114	126,012
Shareholders' funds		37,214	126,112

Lakeland Kitchens Limited

Balance Sheet as at 31 March 2026 (continued)

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 10209205

Approved and authorised by the Board on 7 July 2026 and signed on its behalf by:
 

......................................... Mr M J Hudson Director

Lakeland Kitchens Limited

Notes to the financial statements for the Year Ended 31 March 2026

1	GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14 Wainwright's Yard
Kendal
LA9 4DP

These financial statements were authorised for issue by the Board on 7 July 2026.

2	ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Lakeland Kitchens Limited

Notes to the financial statements for the Year Ended 31 March 2026 (continued)

2	ACCOUNTING POLICIES (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	33% straight line
Showroom displays	10% reducing balance
Plant and machinery	33% straight line

Lakeland Kitchens Limited

Notes to the financial statements for the Year Ended 31 March 2026 (continued)

2	ACCOUNTING POLICIES (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Lakeland Kitchens Limited

Notes to the financial statements for the Year Ended 31 March 2026 (continued)

3	STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 12 (2025 - 9).

Lakeland Kitchens Limited

Notes to the financial statements for the Year Ended 31 March 2026 (continued)

4	TANGIBLE ASSETS

	Fixtures and fittings £	Showroom displays £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2025	35,952	314,624	4,923	355,499
Additions	3,769	86,396	-	90,165
Disposals	-	(70,367)	-	(70,367)
At 31 March 2026	39,721	330,653	4,923	375,297
Depreciation
At 1 April 2025	23,751	31,850	3,602	59,203
Charge for the year	12,543	30,592	1,321	44,456
Eliminated on disposal	-	(7,123)	-	(7,123)
At 31 March 2026	36,294	55,319	4,923	96,536
Carrying amount
At 31 March 2026	3,427	275,334	-	278,761
At 31 March 2025	12,201	282,774	1,321	296,296

5

STOCKS

	2026 £	2025 £
Work in progress	28,880	57,706

6

DEBTORS

Current	2026 £	2025 £
Trade debtors	279,351	323,857
Prepayments	6,531	7,314
Other debtors	42,177	111,902
	328,059	443,073

Lakeland Kitchens Limited

Notes to the financial statements for the Year Ended 31 March 2026 (continued)

7	LOANS AND BORROWINGS

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	32,236	97,165
Other borrowings	48,250	74,734
	80,486	171,899

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	41,824	10,000
Bank overdrafts	10,855	-
Other borrowings	51,565	46,116
	104,244	56,116

8

CREDITORS

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	7	104,244	56,116
Trade creditors		247,518	253,774
Taxation and social security		14,650	12,623
Accruals and deferred income		81,483	175,154
Other creditors		18,154	7,585
		466,049	505,252

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £88,694 (2025 - £41,421).

Lakeland Kitchens Limited

Notes to the financial statements for the Year Ended 31 March 2026 (continued)

8	CREDITORS (continued)

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	7	80,486	171,899

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £65,617 (2025 - £120,511).

9	SHARE CAPITAL

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	98	98	98	98
Ordinary A shares of £1 each	2	2	2	2
	100	100	100	100