Lakeside Thorpe Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10123744 (England and Wales)

Unaudited Financial Statements

for the Period 27 March 2019 to 24 March 2020

for

Lakeside Thorpe Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Patel

H Patel

J Patel

REGISTERED OFFICE:

2nd Floor Grove House

55 Lowlands Road

Harrow

Middlesex

HA1 3AW

REGISTERED NUMBER:

10123744 (England and Wales)

FIXED ASSETS

Tangible assets

4

57,917

77,310

CURRENT ASSETS

Stocks

2,313

4,016

Debtors

5

205,099

157,027

Cash at bank and in hand

12,068

6,373

219,480

167,416

CREDITORS

Amounts falling due within one year

6

156,033

118,302

NET CURRENT ASSETS

63,447

49,114

TOTAL ASSETS LESS CURRENT LIABILITIES

121,364

126,424

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

121,264

126,324

SHAREHOLDERS' FUNDS

121,364

126,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 24 March 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 24 March 2020 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 21 December 2020 and were signed on its behalf by:

D Patel - Director

1.	STATUTORY INFORMATION

Lakeside Thorpe 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was 3 (2019 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

leasehold

fittings

Totals

£

£

£

COST

At 27 March 2019

and 24 March 2020

45,330

82,617

127,947

DEPRECIATION

At 27 March 2019

24,409

26,228

50,637

Charge for period

9,066

10,327

19,393

At 24 March 2020

33,475

36,555

70,030

NET BOOK VALUE

At 24 March 2020

11,855

46,062

57,917

At 26 March 2019

20,921

56,389

77,310

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

24.3.20

26.3.19

£

£

Trade debtors

3,687

6,851

Amounts owed by group undertakings

195,220

127,175

Other debtors

6,192

23,001

205,099

157,027

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

24.3.20

26.3.19

£

£

Trade creditors

9,603

14,349

Taxation and social security

3,362

-

Other creditors

143,068

103,953

156,033

118,302

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

24.3.20

26.3.19

value:

£

£

100

Ordinary shares

£1

100

100

8.	RELATED PARTY DISCLOSURES

During the period the Company, on aggregate incurred management charges of £3,584 (2019: £3,533) and incurred

staff recharges of £119,483 (2019: £117,769) from companies under common control.

As at balance sheet date a total of £95,387 (2019: £66,697 due from) due to Lexo Purple Limited and a total of

£43,824 (2019: £25,848l) due to Ecko Limited.

As at balance sheet date, Resso Holdings Ltd £170,220 (2019 : £127,175), Apex Realty Ltd £15,000 (2019 : Nil)

and Stoneygate Ltd £10,000 (2019 : Nil) owes the company - Companies under common control.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Lexo Purple Ltd as it is the majority shareholder.