Registration number: 14155005

Lower Chatley Lakes Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

Lower Chatley Lakes Ltd

(Registration number: 14155005)
Balance Sheet as at 30 June 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	675,000	665,000
Current assets
Stocks	5	608,570	557,246
Debtors	6	1,183	2,769
Cash at bank and in hand		344	299
		610,097	560,314
Creditors: Amounts falling due within one year	7	(1,264,930)	(1,200,164)
Net current liabilities		(654,833)	(639,850)
Net assets		20,167	25,150
Capital and reserves
Called up share capital		100	100
Revaluation reserve		75,000	65,000
Retained earnings		(54,933)	(39,950)
Shareholders' funds		20,167	25,150

For the financial year ending 30 June 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.

Approved and authorised by the Board on 23 October 2026 and signed on its behalf by:
 

......................................... R A Holdway Director

Lower Chatley Lakes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

1	General information

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

The address of its registered office is:
Orchard House
Lower Chatley Farm
Woolverton
Bath
Somerset
BA2 7RQ

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.

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:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Lower Chatley Lakes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2025 - 0).

Lower Chatley Lakes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 July 2025	665,000	665,000
Revaluations	10,000	10,000
At 30 June 2026	675,000	675,000
Depreciation
Net book value
At 30 June 2026	675,000	675,000
At 30 June 2025	665,000	665,000

Included within the net book value of land and buildings above is £675,000 (2025 - £665,000) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's land at Lower Chatley Farm. was revalued on 20 January 2026. An independent valuer was not involved.
The property was revalued by the directors at the Balance Sheet date.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £600,000 (2025 - £600,000).

Capitalised borrowing costs

Within Stock & Work in Progress are capitalised borrowing costs of £110,328 (2025 - £59,004). The capitalisation rate used to determine the amount of finance costs capitalised during the period was 100%.

5

Stocks

	2026 £	2025 £
Work in progress	608,570	557,246

6

Debtors

	2026 £	2025 £
Other debtors	1,183	2,769
	1,183	2,769

Lower Chatley Lakes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

7

Creditors

Amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	438,068	364,769
Trade creditors		121,471	121,471
Accruals and deferred income		1,590	1,565
Loan from directors		703,801	712,359
		1,264,930	1,200,164

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property, plant and equipment revaluation	10,000	10,000

9	Loans and borrowings

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	438,068	364,769

Bank borrowings

Bridging loan is denominated in £ with a nominal interest rate of 11.4%, and the final instalment is due on 28 February 2027. The carrying amount at year end is £438,068 (2025 - £Nil).

Bridging loan is denominated in £ with a nominal interest rate of 14%, and the final instalment is due on 19 February 2026. The carrying amount at year end is £Nil (2025 - £364,769).