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REGISTERED NUMBER: 02653821 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Duralock (UK) Limited

Duralock (UK) Limited (Registered number: 02653821)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Duralock (UK) Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mrs JR Wheeler
J McGovern





SECRETARY: Mrs JR Wheeler





REGISTERED OFFICE: 6A Enstone Business Park
Enstone
Chipping Norton
Oxfordshire
OX7 4NP





REGISTERED NUMBER: 02653821 (England and Wales)





ACCOUNTANTS: Sheppards Accountants Limited
22 The Square
The Millfields
Plymouth
Devon
PL1 3JX

Duralock (UK) Limited (Registered number: 02653821)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,612 3,852
Tangible assets 5 120,748 75,615
133,360 79,467

CURRENT ASSETS
Stocks 120,613 325,538
Debtors 6 615,297 583,150
Cash at bank 149,084 132,855
884,994 1,041,543
CREDITORS
Amounts falling due within one year 7 692,452 947,340
NET CURRENT ASSETS 192,542 94,203
TOTAL ASSETS LESS CURRENT
LIABILITIES

325,902

173,670

CREDITORS
Amounts falling due after more than one
year

8

78,314

87,907
NET ASSETS 247,588 85,763

CAPITAL AND RESERVES
Called up share capital 1,000,000 1,000,000
Retained earnings (752,412 ) (914,237 )
SHAREHOLDERS' FUNDS 247,588 85,763

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Duralock (UK) Limited (Registered number: 02653821)

Balance Sheet - continued
31 May 2023


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 6 September 2023 and were signed on its behalf by:





J McGovern - Director


Duralock (UK) Limited (Registered number: 02653821)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Duralock (UK) 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 represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.Sales are recognised on invoice.Invoices are raised on delivery of goods or completion of an installation.

Patents and licences
Amortisation is provided at the annual rate of 5% on a straight line basis to write off each asset over its estimated useful life.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - at varying rates on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - 25% Straight Line

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Stocks
Stock and work in progress are valued at the lower of cost and net realisable value.Net realisable value is based on selling price less anticipated costs to completion.

Research and development
Research and development expenditure is written off to profit and loss as it is incurred,except development expenditure on an individual project is carried forward when its future recoverability can reasonably be regarded as assured.Any carried forward expenditure is amortised in line with expected future sales of the project.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are included in the profit and loss account in the respective financial period.

Government grants
Grants in respect of capital expenditure are treated as deferred income and are released to profit over the anticipated life of the relevant asset by equal annual instalments.Grants for revenue expenditure are credited to income in the same financial period as the matching expenditure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

Duralock (UK) Limited (Registered number: 02653821)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 June 2022 41,997
Additions 9,000
At 31 May 2023 50,997
AMORTISATION
At 1 June 2022 38,145
Amortisation for year 240
At 31 May 2023 38,385
NET BOOK VALUE
At 31 May 2023 12,612
At 31 May 2022 3,852

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2022 53,052 769,302 146,552 26,344 995,250
Additions - 48,500 - - 48,500
At 31 May 2023 53,052 817,802 146,552 26,344 1,043,750
DEPRECIATION
At 1 June 2022 52,985 694,182 146,124 26,344 919,635
Charge for year 5 3,352 10 - 3,367
At 31 May 2023 52,990 697,534 146,134 26,344 923,002
NET BOOK VALUE
At 31 May 2023 62 120,268 418 - 120,748
At 31 May 2022 67 75,120 428 - 75,615

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 494,034 486,962
VAT 11,332 26,888
Prepayments and accrued income 109,931 69,300
615,297 583,150

Duralock (UK) Limited (Registered number: 02653821)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 7,735 11,201
Trade creditors 217,584 540,170
Social security and other taxes 6,622 8,841
Directors' current accounts 418,223 380,578
Accrued expenses 42,288 6,550
692,452 947,340

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 39,839 44,983
Hire purchase contracts 38,475 42,924
78,314 87,907

9. ULTIMATE CONTROLLING PARTY

During the financial period the company was under the control of the directors.

10. INTEREST

During the financial year, the company benefited from a loan from Mrs JR Wheeler, a director and shareholder.