Love The Lakes Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06420101 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Love The Lakes Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs L P McMahon

Mr S M McMahon

SECRETARY:

Mr S M McMahon

REGISTERED OFFICE:

Waterside

4 The Gardens

Barrow-in-Furness

Cumbria

LA14 4RE

REGISTERED NUMBER:

06420101 (England and Wales)

ACCOUNTANTS:

R F Miller & Co Ltd

Doubletree Court

10a Cavendish Street

Ulverston

Cumbria

LA12 7AD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report 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 director for our work or for this report.

You have acknowledged on the balance sheet as at 31 December 2025 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

R F Miller & Co Ltd

Doubletree Court

10a Cavendish Street

Ulverston

Cumbria

LA12 7AD

Date: .............................................

FIXED ASSETS

Intangible assets

4

3,148

4,868

Tangible assets

5

14,373

18,681

17,521

23,549

CURRENT ASSETS

Stocks

153,698

128,134

Debtors

6

40,030

57,222

Cash at bank and in hand

2,320

1,366

196,048

186,722

CREDITORS

Amounts falling due within one year

7

141,178

124,012

NET CURRENT ASSETS

54,870

62,710

TOTAL ASSETS LESS CURRENT
LIABILITIES

72,391

86,259

PROVISIONS FOR LIABILITIES

5,887

NET ASSETS

66,504

80,372

CAPITAL AND RESERVES

Called up share capital

9

101

Retained earnings

10

66,403

80,271

SHAREHOLDERS' FUNDS

66,504

80,372

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.

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 15 September 2026 and were signed on its behalf by:

Mrs L P McMahon - Director

1.	STATUTORY INFORMATION

Love The Lakes Limited is a private company, limited by shares , 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

20% on cost

Leasehold improvements

-

10% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

25% 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.

Stocks and work in progress are stated at the lower of cost and estimated costs to complete and sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Estimated selling price less costs to complete and sell is based on the estimated selling price of the goods less any estimated completion or selling costs likely to be incurred on the sale.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

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 13 (2024 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

At 1 January 2025

and 31 December 2025

4,999

11,745

16,744

AMORTISATION

At 1 January 2025

4,999

6,877

11,876

Charge for year

-

1,720

At 31 December 2025

4,999

8,597

13,596

NET BOOK VALUE

At 31 December 2025

-

3,148

At 31 December 2024

-

4,868

5.	TANGIBLE FIXED ASSETS

Short

Leasehold

Plant and

leasehold

improvements

machinery

£

COST

At 1 January 2025

58,297

29,969

1,098

Additions

-

At 31 December 2025

58,297

29,969

1,098

DEPRECIATION

At 1 January 2025

58,297

20,689

556

Charge for year

-

109

Eliminated on disposal

-

1,254

-

At 31 December 2025

58,297

21,943

665

NET BOOK VALUE

At 31 December 2025

-

8,026

433

At 31 December 2024

-

9,280

542

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 January 2025

49,518

15,464

154,346

Additions

-

277

At 31 December 2025

49,518

15,741

154,623

DEPRECIATION

At 1 January 2025

44,954

11,169

135,665

Charge for year

943

2,279

3,331

Eliminated on disposal

-

1,254

At 31 December 2025

45,897

13,448

140,250

NET BOOK VALUE

At 31 December 2025

3,621

2,293

14,373

At 31 December 2024

4,564

4,295

18,681

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors

2,493

1,039

Amazon Control

35,663

30,213

Other debtors

-

143

Directors' current accounts

-

24,000

Prepayments

1,874

1,827

40,030

57,222

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Bank loans and overdrafts

5,161

2,204

Trade creditors

64,098

59,830

Tax

16,083

10,455

Social security and other taxes

4,722

3,771

VAT

31,269

31,786

Other creditors

49

-

Credit Card

10,143

6,795

Directors' current accounts

7,343

7,241

Accrued expenses

2,310

1,930

141,178

124,012

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25

31.12.24

£

Within one year

73,510

68,450

Between one and five years

105,725

144,700

179,235

213,150

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

99

Ordinary A Class

£1

99

1

Ordinary B Class

£1

1

Ordinary C Class

£1

1

101

10.

RESERVES

Retained

earnings

£

At 1 January 2025

80,271

Profit for the year

52,732

Dividends

(66,600

)

At 31 December 2025

66,403

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is an amount due to Mrs L McMahon by the company of £7,342 (2024: £7,241).

Included within debtors is an amount owed by to Mr SM McMahon to the company of £Nil (2024: 24,000) ). No interest has been charged on this advance, and this was repaid shortly after the year end.

12.	RELATED PARTY DISCLOSURES

During the year Mrs L P McMahon received dividends of £27,000 (2024: £3,000) and Mr S M McMahon received dividends of £30,000 (2024: £Nil)

13.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mrs L P McMahon throughout the current and previous periods. Mrs McMahon is the managing director and together with members of her immediate family owns 100% of the issued share capital of the company.