REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
for |
Duralock (UK) Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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 |
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 |
Additions |
At 31 May 2023 |
AMORTISATION |
At 1 June 2022 |
Amortisation for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2022 |
Additions |
At 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
VAT |
Prepayments and accrued income |
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 |
Trade creditors |
Social security and other taxes |
Directors' current accounts | 418,223 | 380,578 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 2-5 years |
Hire purchase contracts |
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. |