Registration number:
Lakedrive Limited
for the Year Ended 31 March 2019
(filleted for filing purposes)
Lakedrive Limited
Contents
Company Information |
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Statement of Income and Retained Earnings |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Lakedrive Limited
Company Information
Directors |
JR Hutchings AD Hutchings A C J Johnstone |
Registered office |
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Page 1 |
Lakedrive Limited
Statement of Income and Retained Earnings for the Year Ended 31 March 2019
Note |
2019 |
2018 |
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Turnover |
- |
- |
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Administrative expenses |
( |
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Other operating income |
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Operating profit |
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Interest payable and similar charges |
( |
( |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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Retained earnings brought forward |
159,372 |
143,363 |
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Retained earnings carried forward |
168,809 |
205,562 |
Page 2 |
Lakedrive Limited
(Registration number: 03851764)
Balance Sheet as at 31 March 2019
Note |
2019 |
2018 |
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Fixed assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account (non-distributable) |
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Profit and loss account (distributable) |
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Total equity |
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Page 3 |
Lakedrive Limited
(Registration number: 03851764)
Balance Sheet as at 31 March 2019
For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
.........................................
Director
.........................................
Director
Page 4 |
Lakedrive Limited
Statement of Changes in Equity for the Year Ended 31 March 2019
Share capital |
Non-distributable reserve |
Profit and loss account |
Total |
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At 1 April 2018 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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At 31 March 2019 |
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Share capital |
Non-distributable reserve |
Profit and loss account |
Total |
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At 1 April 2017 |
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- |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Transfers |
- |
46,190 |
(46,190) |
- |
At 31 March 2018 |
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Page 5 |
Lakedrive Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
The principal place of business is:
79 Albert Road
Deal
Kent
CT14 9JQ
England
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
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 income 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.
Page 6 |
Lakedrive Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Tangible assets
Tangible assets are stated in the statement of financial position 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.
Investment property
No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
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.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2019 |
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At 1 April |
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There has been no valuation of investment property by an independent valuer.
Page 7 |
Lakedrive Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Investments |
2019 |
2018 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2018 |
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Provision |
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Carrying amount |
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At 31 March 2019 |
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At 31 March 2018 |
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Debtors |
2019 |
2018 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
- |
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Other debtors |
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Total current trade and other debtors |
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Page 8 |
Lakedrive Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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6.00 |
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6.00 |
Page 9 |