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REGISTERED NUMBER: 01798536















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Advanced Locking and Locksmithing
Limited

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Statement of Income and Retained Earnings 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Statement of Income and Retained Earnings
for the Year Ended 30 April 2023

2023 2022
Notes £    £   

TURNOVER 209,086 205,901

Cost of sales 80,358 70,525
GROSS PROFIT 128,728 135,376

Administrative expenses 74,505 68,964
54,223 66,412

Other operating income - 2,542
OPERATING PROFIT 54,223 68,954

Interest receivable and similar income - 4
54,223 68,958

Interest payable and similar expenses 5 3,594 3,226
PROFIT BEFORE TAXATION 50,629 65,732

Tax on profit 6 9,651 12,147
PROFIT FOR THE FINANCIAL YEAR 40,978 53,585

Retained earnings at beginning of year 20,822 7,237

Dividends (61,790 ) (40,000 )

RETAINED EARNINGS AT END OF
YEAR

10

20,822

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Abridged Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 7,750 11,942
7,750 11,942

CURRENT ASSETS
Stocks 13,998 15,819
Debtors 21,642 23,259
Cash at bank and in hand 4,361 25,997
40,001 65,075
CREDITORS
Amounts falling due within one year 32,198 32,941
NET CURRENT ASSETS 7,803 32,134
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,553

44,076

CREDITORS
Amounts falling due after more than one
year

(14,068

)

(20,983

)

PROVISIONS FOR LIABILITIES 10 (1,473 ) (2,269 )
NET ASSETS 12 20,824

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 10 20,822
SHAREHOLDERS' FUNDS 12 20,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Abridged Balance Sheet - continued
30 April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:





Mr P H Griffiths - Director


Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Advanced Locking and Locksmithing Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address are as below:

Registered number: 01798536

Registered office: 132A Bournemouth Road
Chandlers Ford
Eastleigh
Hampshire
SO53 3AL

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1996, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

2023 2022
£    £   
Directors' remuneration 18,770 17,696

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank charges & interest 3,594 3,226

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 10,447 12,646

Deferred tax (796 ) (499 )
Tax on profit 9,651 12,147

7. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2022
and 30 April 2023 8,000
AMORTISATION
At 1 May 2022
and 30 April 2023 8,000
NET BOOK VALUE

At 30 April 2023 -
At 30 April 2022 -

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

8. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2022 127,050
Disposals (3,528 )
At 30 April 2023 123,522
DEPRECIATION
At 1 May 2022 115,108
Charge for year 2,584
Eliminated on disposal (1,920 )
At 30 April 2023 115,772
NET BOOK VALUE
At 30 April 2023 7,750
At 30 April 2022 11,942

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 7,500 7,600

Amounts falling due between one and two years:
Bank loans - 1-2 years 7,200 7,500

Amounts falling due between two and five years:
Bank loans - 2-5 years 6,868 13,483

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,473 2,269

Deferred
tax
£   
Balance at 1 May 2022 2,269
Provided during year (796 )
Balance at 30 April 2023 1,473

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary 1 2 2

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
Mrs F M Griffiths
Balance outstanding at start of year 3,908 -
Amounts advanced 1,686 3,908
Amounts repaid (3,908 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,686 3,908

Mr P H Griffiths
Balance outstanding at start of year 3,907 -
Amounts advanced 1,686 3,907
Amounts repaid (3,907 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,686 3,907