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REGISTERED NUMBER: 05873232 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

H. Lockwood & Son Limited

H. Lockwood & Son Limited (Registered number: 05873232)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H. Lockwood & Son Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: S A Thomas
Mrs J Thomas
B A Thomas





SECRETARY: Mrs J Thomas





REGISTERED OFFICE: The Old Test Centre
Turpin Close
Gainsborough
Lincolnshire
DN21 1PA





REGISTERED NUMBER: 05873232 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

H. Lockwood & Son Limited (Registered number: 05873232)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 222,068 196,309
222,068 196,309

CURRENT ASSETS
Debtors 6 13,579 50,821
Cash at bank and in hand 31,610 16,106
45,189 66,927
CREDITORS
Amounts falling due within one year 7 141,842 149,577
NET CURRENT LIABILITIES (96,653 ) (82,650 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,415

113,659

CREDITORS
Amounts falling due after more than one
year

8

(16,667

)

(26,667

)

PROVISIONS FOR LIABILITIES (5,354 ) (3,389 )
NET ASSETS 103,394 83,603

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 103,392 83,601
103,394 83,603

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

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

H. Lockwood & Son Limited (Registered number: 05873232)

Balance Sheet - continued
30 September 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 27 November 2023 and were signed on its behalf by:





B A Thomas - Director


H. Lockwood & Son Limited (Registered number: 05873232)

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

1. STATUTORY INFORMATION

H. Lockwood & Son 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 2006, is being amortised evenly over its estimated useful life of ten 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.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

H. Lockwood & Son Limited (Registered number: 05873232)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 140,000
AMORTISATION
At 1 October 2022
and 30 September 2023 140,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2022 195,993 27,511 - 53,962 277,466
Additions 19,731 852 15,516 - 36,099
At 30 September 2023 215,724 28,363 15,516 53,962 313,565
DEPRECIATION
At 1 October 2022 17,523 18,615 - 45,019 81,157
Charge for year 4,315 1,462 2,327 2,236 10,340
At 30 September 2023 21,838 20,077 2,327 47,255 91,497
NET BOOK VALUE
At 30 September 2023 193,886 8,286 13,189 6,707 222,068
At 30 September 2022 178,470 8,896 - 8,943 196,309

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 13,579 44,057
Tax - 6,764
13,579 50,821

H. Lockwood & Son Limited (Registered number: 05873232)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 23,268 10,183
Tax 3,625 12,493
Social security and other taxes 3,588 -
VAT 11,182 12,249
Directors' current accounts 89,178 103,650
Accrued expenses 1,001 1,002
141,842 149,577

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 6,667 16,667
16,667 26,667

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2022 - £4,000) were paid to the directors .

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors. At the balance sheet date the amount owed to the directors by the company was £89,178 (2022 - £103,650).