Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-01falseNo description of principal activity99false SC286005 2022-07-01 2023-06-30 SC286005 2021-07-01 2022-06-30 SC286005 2023-06-30 SC286005 2022-06-30 SC286005 c:CompanySecretary1 2022-07-01 2023-06-30 SC286005 c:Director1 2022-07-01 2023-06-30 SC286005 c:Director2 2022-07-01 2023-06-30 SC286005 c:RegisteredOffice 2022-07-01 2023-06-30 SC286005 d:Buildings 2022-07-01 2023-06-30 SC286005 d:Buildings 2023-06-30 SC286005 d:Buildings 2022-06-30 SC286005 d:Buildings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC286005 d:PlantMachinery 2022-07-01 2023-06-30 SC286005 d:PlantMachinery 2023-06-30 SC286005 d:PlantMachinery 2022-06-30 SC286005 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC286005 d:MotorVehicles 2022-07-01 2023-06-30 SC286005 d:MotorVehicles 2023-06-30 SC286005 d:MotorVehicles 2022-06-30 SC286005 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC286005 d:FurnitureFittings 2022-07-01 2023-06-30 SC286005 d:FurnitureFittings 2023-06-30 SC286005 d:FurnitureFittings 2022-06-30 SC286005 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC286005 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC286005 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 SC286005 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-30 SC286005 d:Goodwill 2022-07-01 2023-06-30 SC286005 d:Goodwill 2023-06-30 SC286005 d:Goodwill 2022-06-30 SC286005 d:CurrentFinancialInstruments 2023-06-30 SC286005 d:CurrentFinancialInstruments 2022-06-30 SC286005 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 SC286005 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 SC286005 d:ShareCapital 2023-06-30 SC286005 d:ShareCapital 2022-06-30 SC286005 d:RevaluationReserve 2023-06-30 SC286005 d:RevaluationReserve 2022-06-30 SC286005 d:RetainedEarningsAccumulatedLosses 2023-06-30 SC286005 d:RetainedEarningsAccumulatedLosses 2022-06-30 SC286005 c:OrdinaryShareClass1 2022-07-01 2023-06-30 SC286005 c:OrdinaryShareClass1 2023-06-30 SC286005 c:OrdinaryShareClass1 2022-06-30 SC286005 c:FRS102 2022-07-01 2023-06-30 SC286005 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 SC286005 c:FullAccounts 2022-07-01 2023-06-30 SC286005 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC286005 d:WithinOneYear 2023-06-30 SC286005 d:WithinOneYear 2022-06-30 SC286005 5 2022-07-01 2023-06-30 SC286005 d:Goodwill d:OwnedIntangibleAssets 2022-07-01 2023-06-30 SC286005 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-07-01 2023-06-30 SC286005 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC286005










LOCK SHOP & SECURITY SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

 
LOCK SHOP & SECURITY SERVICES LIMITED
 

COMPANY INFORMATION


Directors
M Devlin 
T A Devlin 




Company secretary
M Devlin



Registered number
SC286005



Registered office
203 - 209 Strathmore Avenue

Dundee

DD3 6SN




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
LOCK SHOP & SECURITY SERVICES LIMITED
REGISTERED NUMBER: SC286005

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
£
£

Fixed assets
  

Intangible assets
 5 
34,400
51,200

Tangible assets
 4 
282,408
279,869

  
316,808
331,069

Current assets
  

Stocks
  
154,337
155,587

Debtors: amounts falling due within one year
 6 
609,630
608,073

Cash at bank and in hand
  
252,559
196,433

  
1,016,526
960,093

Creditors: amounts falling due within one year
 7 
(71,633)
(73,218)

Net current assets
  
 
 
944,893
 
 
886,875

Total assets less current liabilities
  
1,261,701
1,217,944

Provisions for liabilities
  

Deferred Tax
  
(8,121)
(7,405)

  
 
 
(8,121)
 
 
(7,405)

Net assets
  
1,253,580
1,210,539


Capital and reserves
  

Called up share capital 
 8 
100
100

Revaluation reserve
  
250,000
250,000

Profit and loss account
  
1,003,480
960,439

  
1,253,580
1,210,539


Page 1

 
LOCK SHOP & SECURITY SERVICES LIMITED
REGISTERED NUMBER: SC286005

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 February 2024.





M Devlin
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
LOCK SHOP & SECURITY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Lock Shop & Security Services Limited is a private company, limited by shares, domiciled in Scotland with the registration number SC286005. The registered office and principal place of trading is 203-209 Strathmore Avenue, Dundee, DD3 6SN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
LOCK SHOP & SECURITY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

During the comparative year the business was in receipt of the following revenue grants in relation to the COVID-19 pandemic:
Coronavirus Job Retention Scheme (CJRS) which is recognised when receivable.
 

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
LOCK SHOP & SECURITY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and Machinery
-
15%
Motor Vehicles
-
25%
Fixtures & Fittings
-
10%-15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.


All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

 
LOCK SHOP & SECURITY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 9).


4.


Tangible fixed assets





Freehold property
Plant and Machinery
Motor Vehicles
Fixtures and Fittings
Total

£
£
£
£
£



Cost or valuation


At 1 July 2022
250,000
32,188
25,906
55,907
364,001


Additions
-
-
-
8,764
8,764



At 30 June 2023

250,000
32,188
25,906
64,671
372,765



Depreciation


At 1 July 2022
-
22,742
18,115
43,275
84,132


Charge for the year on owned assets
-
1,419
1,948
2,858
6,225



At 30 June 2023

-
24,161
20,063
46,133
90,357



Net book value



At 30 June 2023
250,000
8,027
5,843
18,538
282,408



At 30 June 2022
250,000
9,446
7,791
12,632
279,869

Page 6

 
LOCK SHOP & SECURITY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Intangible assets




Development
Goodwill
Total

£
£
£



Cost


At 1 July 2022
4,000
320,000
324,000



At 30 June 2023

4,000
320,000
324,000



Amortisation


At 1 July 2022
800
272,000
272,800


Charge for the year on owned assets
800
16,000
16,800



At 30 June 2023

1,600
288,000
289,600



Net book value



At 30 June 2023
2,400
32,000
34,400



At 30 June 2022
3,200
48,000
51,200




6.


Debtors

2023
2022
£
£


Trade debtors
68,987
67,143

Other debtors
534,230
539,224

Prepayments and accrued income
6,413
1,706

609,630
608,073



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
27,011
39,179

Other taxation and social security
35,290
23,995

Obligations under finance lease and hire purchase contracts
-
1,666

Accruals and deferred income
9,332
8,378

71,633
73,218


Page 7

 
LOCK SHOP & SECURITY SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



9.


Commitments under operating leases

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
-
1,519

-
1,519

Page 8