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REGISTERED NUMBER: 01261935 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

NINE LOCKS (VEHICLE DISMANTLERS) LTD

NINE LOCKS (VEHICLE DISMANTLERS) LTD (REGISTERED NUMBER: 01261935)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


NINE LOCKS (VEHICLE DISMANTLERS) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Mr J J Griffiths





SECRETARY: Miss F Sidaway





REGISTERED OFFICE: Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF





REGISTERED NUMBER: 01261935 (England and Wales)





ACCOUNTANTS: E R Grove & Co Limited
Chartered Accountants
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NINE LOCKS (VEHICLE DISMANTLERS) LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nine Locks (Vehicle Dismantlers) Ltd for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Nine Locks (Vehicle Dismantlers) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nine Locks (Vehicle Dismantlers) Ltd and state those matters that we have agreed to state to the director of Nine Locks (Vehicle Dismantlers) Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nine Locks (Vehicle Dismantlers) Ltd and its director for our work or for this report.

It is your duty to ensure that Nine Locks (Vehicle Dismantlers) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Nine Locks (Vehicle Dismantlers) Ltd. You consider that Nine Locks (Vehicle Dismantlers) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nine Locks (Vehicle Dismantlers) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






E R Grove & Co Limited
Chartered Accountants
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF


5 March 2024

NINE LOCKS (VEHICLE DISMANTLERS) LTD (REGISTERED NUMBER: 01261935)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,725 26,758
Investment property 5 58,201 45,000
86,926 71,758

CURRENT ASSETS
Stocks 23,044 14,236
Debtors 6 16,948 24,738
Cash at bank and in hand 23,956 38,188
63,948 77,162
CREDITORS
Amounts falling due within one year 7 66,094 48,187
NET CURRENT (LIABILITIES)/ASSETS (2,146 ) 28,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,780

100,733

PROVISIONS FOR LIABILITIES 11,380 8,487
NET ASSETS 73,400 92,246

CAPITAL AND RESERVES
Called up share capital 500 500
Fair value reserve 46,215 35,522
Retained earnings 26,685 56,224
SHAREHOLDERS' FUNDS 73,400 92,246

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

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

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 5 March 2024 and were signed by:





Mr J J Griffiths - Director


NINE LOCKS (VEHICLE DISMANTLERS) LTD (REGISTERED NUMBER: 01261935)

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

1. STATUTORY INFORMATION

Nine Locks (Vehicle Dismantlers) Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investment land
Investment land for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in the profit or loss.

The fair value of the investment land has been determined by independent research by reference to recent market prices of similar properties in the area and a third party valuation dated April 2016.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

NINE LOCKS (VEHICLE DISMANTLERS) LTD (REGISTERED NUMBER: 01261935)

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 12,691 25,281 12,900 922 51,794
Additions - - 4,703 - 4,703
Disposals - - (200 ) - (200 )
At 30 June 2023 12,691 25,281 17,403 922 56,297
DEPRECIATION
At 1 July 2022 - 15,135 9,425 476 25,036
Charge for year - 1,521 1,068 147 2,736
Eliminated on disposal - - (200 ) - (200 )
At 30 June 2023 - 16,656 10,293 623 27,572
NET BOOK VALUE
At 30 June 2023 12,691 8,625 7,110 299 28,725
At 30 June 2022 12,691 10,146 3,475 446 26,758

Included in cost of land and buildings is freehold land of £ 12,691 (2022 - £ 12,691 ) which is not depreciated.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 45,000
Net gains or losses from fair
value adjustments 13,201
At 30 June 2023 58,201
NET BOOK VALUE
At 30 June 2023 58,201
At 30 June 2022 45,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2020 41,391
Valuation in 2023 13,201
Cost 3,609
58,201

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 984 5,865
Other debtors 15,964 18,873
16,948 24,738

NINE LOCKS (VEHICLE DISMANTLERS) LTD (REGISTERED NUMBER: 01261935)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,955 5,440
Taxation and social security 6,067 4,966
Other creditors 55,072 37,781
66,094 48,187