Company Registration No. 06574553 (England and Wales)
Lake Electrical Limited
Unaudited accounts
for the year ended 30 April 2020
Lake Electrical Limited
Unaudited accounts
Contents
Lake Electrical Limited
Company Information
for the year ended 30 April 2020
Directors
Luke Kavanagh
Lucy Kavanagh
Company Number
06574553 (England and Wales)
Registered Office
9 Meadowsweet Close
St. Leonards-On-Sea
East Sussex
TN38 9TJ
Accountants
Diamond Accounts Limited
120 Cavendish Place
Eastbourne
East Sussex
BN21 3TZ
Lake Electrical Limited
Statement of financial position
as at 30 April 2020
Tangible assets
30,287
23,025
Cash at bank and in hand
188,476
40,401
Creditors: amounts falling due within one year
(125,118)
(116,958)
Net current assets
152,867
12,551
Total assets less current liabilities
183,154
35,576
Creditors: amounts falling due after more than one year
(145,000)
-
Called up share capital
1
1
Profit and loss account
38,153
35,575
Shareholders' funds
38,154
35,576
For the year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2020 and were signed on its behalf by
Luke Kavanagh
Director
Company Registration No. 06574553
Lake Electrical Limited
Notes to the Accounts
for the year ended 30 April 2020
Lake Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 06574553. The registered office is 9 Meadowsweet Close, St. Leonards-On-Sea, East Sussex, TN38 9TJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Lake Electrical Limited
Notes to the Accounts
for the year ended 30 April 2020
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2019
2,348
48,658
1,172
52,178
Additions
-
11,850
3,528
15,378
At 30 April 2020
2,348
60,508
4,700
67,556
At 1 May 2019
2,256
25,777
1,120
29,153
Charge for the year
23
7,942
151
8,116
At 30 April 2020
2,279
33,719
1,271
37,269
At 30 April 2020
69
26,789
3,429
30,287
At 30 April 2019
92
22,881
52
23,025
Work in progress
2,000
2,000
Finished goods
3,000
3,000
Trade debtors
73,067
84,108
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
38,611
31,110
Obligations under finance leases and hire purchase contracts
18,944
15,019
Trade creditors
19,988
46,452
Taxes and social security
23,653
19,887
8
Creditors: amounts falling due after more than one year
2020
2019
9
Average number of employees
During the year the average number of employees was 5 (2019: 3).
