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Registration number: 09492450

Truro Lock & Leave Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Truro Lock & Leave Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Truro Lock & Leave Limited

Company Information

Director

A J Walker

Registered office

6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Truro Lock & Leave Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Truro Lock & Leave Limited for the year ended 31 March 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Truro Lock & Leave Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Truro Lock & Leave Limited and state those matters that we have agreed to state to the Board of Directors of Truro Lock & Leave Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Truro Lock & Leave Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Truro Lock & Leave Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Truro Lock & Leave Limited. You consider that Truro Lock & Leave Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Truro Lock & Leave Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

13 July 2023

 

Truro Lock & Leave Limited

(Registration number: 09492450)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

199,272

206,304

Current assets

 

Debtors

5

-

5,120

Cash at bank and in hand

 

19,712

25,553

 

19,712

30,673

Creditors: Amounts falling due within one year

6

(119,068)

(120,076)

Net current liabilities

 

(99,356)

(89,403)

Total assets less current liabilities

 

99,916

116,901

Creditors: Amounts falling due after more than one year

6

(73,405)

(84,687)

Provisions for liabilities

(7,295)

(7,927)

Net assets

 

19,216

24,287

Capital and reserves

 

Called up share capital

2

2

Retained earnings

19,214

24,285

Shareholders' funds

 

19,216

24,287

 

Truro Lock & Leave Limited

(Registration number: 09492450)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 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 13 July 2023
 

.........................................

A J Walker

Director

 

Truro Lock & Leave Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

These financial statements were authorised for issue by the director on 13 July 2023.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Truro Lock & Leave Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

No depreciation

Plant & Machinery

20% reducing balance

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Truro Lock & Leave Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Plant & equipment
£

Total
£

Cost or valuation

At 1 April 2022

144,011

127,625

271,636

Additions

-

6,370

6,370

At 31 March 2023

144,011

133,995

278,006

Depreciation

At 1 April 2022

-

65,332

65,332

Charge for the year

-

13,402

13,402

At 31 March 2023

-

78,734

78,734

Carrying amount

At 31 March 2023

144,011

55,261

199,272

At 31 March 2022

144,011

62,293

206,304

5

Debtors

2023
£

2022
£

Trade debtors

-

5,120

-

5,120

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

12,800

8,874

Trade creditors

 

-

11,300

Taxation and social security

 

1,082

2,037

Accruals and deferred income

 

7,440

5,234

Other creditors

 

97,746

92,631

 

119,068

120,076

 

Truro Lock & Leave Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

73,405

84,687

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

73,405

84,687

2023
£

2022
£

Current loans and borrowings

Bank borrowings

12,800

8,874