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LAKE CREATIVE LIMITED




Company Registration Number:
06729161 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st November 2010

End date: 31st October 2011

SUBMITTED

LAKE CREATIVE LIMITED

Company Information
for the Period Ended
31st October 2011




Director: Andrew Spilsbury
Registered office: Lakeside Southill Cornbury Park
Charlbury
Chipping Norton
Oxfordshire
OX7 3EW
Company Registration Number: 06729161 (England and Wales)

LAKE CREATIVE LIMITED

Abbreviated Balance sheet
As at 31st October 2011

Notes 2011
£
2010
£
Fixed assets
Intangible assets: 5 16,000 18,000
Tangible assets: 6 9,789 5,958
Total fixed assets: 25,789 23,958
Current assets
Stocks: 67,720 18,553
Debtors: 8 90,068 52,579
Cash at bank and in hand: 72,766 52,493
Total current assets: 230,554 123,625
Creditors
Creditors: amounts falling due within one year 9 188,792 139,097
Net current assets (liabilities): 41,762 ( 15,472 )
Total assets less current liabilities: 67,551 8,486
Total net assets (liabilities): 67,551 8,486

The notes form part of these financial statements

LAKE CREATIVE LIMITED

Abbreviated Balance sheet
As at 31st October 2011
continued

Notes 2011
£
2010
£
Capital and reserves
Called up share capital: 10 100 100
Profit and Loss account: 67,451 8,386
Total shareholders funds: 67,551 8,486

For the year ending 31 October 2011 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 15 January 2012

SIGNED ON BEHALF OF THE BOARD BY:

Name: Andrew Spilsbury
Status: Director

The notes form part of these financial statements

LAKE CREATIVE LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st October 2011

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

    Turnover policy

    Turnover represents the value, net of value added tax and discounts, of goods and services provided adjusted for work in progress.

    Tangible fixed assets depreciation policy

    Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Fixtures & fittings - 15% Reducing balance. Computer Equipment - 25% Straight line.

    Intangible fixed assets amortisation policy

    The value of goodwill is appraised by the director in the year it is incurred with the balance being amortised over 20 years.

    Valuation information and policy

    Stocks and work in progress are valued at the lower of cost or net realisable value.

LAKE CREATIVE LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st October 2011

  • 5. Intangible assets

    Total
    Cost £
    At 01st November 2010: 70,000
    70,000
    Amortisation £
    At 01st November 2010: 52,000
    Provided during the period: 2,000
    At 31st October 2011: 54,000
    Net book value £
    At 31st October 2011: 16,000
    At 31st October 2010: 18,000

LAKE CREATIVE LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st October 2011

  • 6. Tangible assets

    Total
    Cost £
    At 01st November 2010: 10,525
    Additions: 6,250
    At 31st October 2011: 16,775
    Depreciation
    At 01st November 2010: 4,567
    Charge for year: 2,419
    At 31st October 2011: 6,986
    Net book value
    At 31st October 2011: 9,789
    At 31st October 2010: 5,958

LAKE CREATIVE LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st October 2011

  • 8. Debtors

    2011
    £
    2010
    £
    Trade debtors: 80,008 44,812
    Other debtors: 4,273 2,938
    Prepayments and accrued income: 5,787 4,829
    Total: 90,068 52,579

LAKE CREATIVE LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st October 2011

  • 9. Creditors: amounts falling due within one year

    2011
    £
    2010
    £
    Trade creditors: 23,686 25,028
    Taxation and social security: 31,615 10,685
    Accruals and deferred income: 84,205 21,284
    Other creditors: 49,286 82,100
    Total: 188,792 139,097

LAKE CREATIVE LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st October 2011

  • 10. Called up share capital

    Allotted, called up and paid

    Previous period 2010
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    100
    Total share capital: 100
    Current period 2011
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    100
    Total share capital: 100

LAKE CREATIVE LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
31st October 2011

  • 12 . Transactions with directors

    Name of director receiving advance or credit: Andrew Spilsbury
    Description of the transaction: Loan to the company
    Balance at 01st November 2010: 82,100
    Advances or credits repaid: 32,814
    Balance at 31st October 2011: 49,286