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REGISTERED NUMBER: 07809640 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

ALBAN LOCKSMITHS LIMITED

ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALBAN LOCKSMITHS LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTOR: J K Bundy





SECRETARY: Mr. G T Bundy





REGISTERED OFFICE: 205 Hatfield Road
St. Albans
Hertfordshire
AL1 4SY





REGISTERED NUMBER: 07809640 (England and Wales)





ACCOUNTANTS: ALI IBRAHIM ASSOCIATES
Chartered Certified Accountants
37 Cranbrook drive
ST ALBANS
Hertfordshire
AL4 0ST

ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 82,875 92,625
Tangible assets 5 22,345 27,844
105,220 120,469

CURRENT ASSETS
Stocks 20,136 22,268
Debtors 6 23,862 29,055
Cash at bank and in hand 252,288 215,645
296,286 266,968
CREDITORS
Amounts falling due within one year 7 150,189 166,568
NET CURRENT ASSETS 146,097 100,400
TOTAL ASSETS LESS CURRENT
LIABILITIES

251,317

220,869

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 251,227 220,779
SHAREHOLDERS' FUNDS 251,317 220,869

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

Balance Sheet - continued
31 March 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 director and authorised for issue on 15 November 2023 and were signed by:





J K Bundy - Director


ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

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


1. STATUTORY INFORMATION

ALBAN LOCKSMITHS 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 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 2011, 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
Fixtures and fittings - 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.


ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 7 ).

ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 195,000
AMORTISATION
At 1 April 2022 102,375
Amortisation for year 9,750
At 31 March 2023 112,125
NET BOOK VALUE
At 31 March 2023 82,875
At 31 March 2022 92,625

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 8,103 1,640 68,273 1,167 79,183
Additions - 1,950 - - 1,950
Disposals - - (7,616 ) - (7,616 )
At 31 March 2023 8,103 3,590 60,657 1,167 73,517
DEPRECIATION
At 1 April 2022 6,284 1,558 42,389 1,108 51,339
Charge for year 455 508 6,471 15 7,449
Eliminated on disposal - - (7,616 ) - (7,616 )
At 31 March 2023 6,739 2,066 41,244 1,123 51,172
NET BOOK VALUE
At 31 March 2023 1,364 1,524 19,413 44 22,345
At 31 March 2022 1,819 82 25,884 59 27,844

ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 18,998 24,191
Other debtors 4,864 4,864
23,862 29,055

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 57,563 74,533
Trade creditors 18,366 27,690
Taxation and social security 37,815 26,152
Other creditors 36,445 38,193
150,189 166,568