Lakes Global Ltd - Period Ending 2018-05-31

Registration number: 07748344

Lakes Global Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2018

Brooks Green Chartered Accountants Abbey House 342 Regents Park Road London N3 2LJ

Lakes Global Ltd

Contents
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Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3

Lakes Global Ltd

Company Information
__________________________________________________________________________

Director

Ms N Ali

Registered office

Abbey House 342 Regents Park Road London N3 2LJ

Accountants

Brooks Green Chartered Accountants Abbey House 342 Regents Park Road London N3 2LJ

Page 1

Lakes Global Ltd

(Registration number: 07748344)
Balance Sheet as at 31 May 2018
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	Note	2018 £		2017 £
Current assets
Debtors	2		100		100
Capital and reserves
Called up share capital		100		100
Total equity			100		100

For the financial year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 on 8 August 2018
 

Ms N Ali

Director

The notes on page 3 form an integral part of these financial statements.

Page 2

Lakes Global Ltd

Notes to the Financial Statements for the Year Ended 31 May 2018
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1	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.

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.

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.

2

Debtors

	2018 £	2017 £
Other debtors	100	100
Total current trade and other debtors	100	100

3	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

Page 3