Locksmart BMC Ltd 09068569 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is other specialised construction activities not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 Software true 09068569 2022-07-01 2023-06-30 09068569 2023-06-30 09068569 core:RetainedEarningsAccumulatedLosses 2023-06-30 09068569 core:ShareCapital 2023-06-30 09068569 core:CurrentFinancialInstruments 2023-06-30 09068569 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 09068569 core:Non-currentFinancialInstruments 2023-06-30 09068569 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 09068569 core:FurnitureFittingsToolsEquipment 2023-06-30 09068569 bus:SmallEntities 2022-07-01 2023-06-30 09068569 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 09068569 bus:FullAccounts 2022-07-01 2023-06-30 09068569 bus:RegisteredOffice 2022-07-01 2023-06-30 09068569 bus:CompanySecretary1 2022-07-01 2023-06-30 09068569 bus:CompanySecretary2 2022-07-01 2023-06-30 09068569 bus:Director1 2022-07-01 2023-06-30 09068569 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 09068569 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 09068569 core:PlantMachinery 2022-07-01 2023-06-30 09068569 countries:AllCountries 2022-07-01 2023-06-30 09068569 2022-06-30 09068569 core:FurnitureFittingsToolsEquipment 2022-06-30 09068569 2021-07-01 2022-06-30 09068569 2022-06-30 09068569 core:RetainedEarningsAccumulatedLosses 2022-06-30 09068569 core:ShareCapital 2022-06-30 09068569 core:CurrentFinancialInstruments 2022-06-30 09068569 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 09068569 core:Non-currentFinancialInstruments 2022-06-30 09068569 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 09068569 core:FurnitureFittingsToolsEquipment 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 09068569

Locksmart BMC Ltd

Annual Report and

Unaudited Financial Statements


for the Year Ended 30 June 2023

 

Locksmart BMC Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Locksmart BMC Ltd

Company Information

Director

Mr D R Thomas

Company secretary

Mrs H A Morgan

Mrs B Thomas

Registered office

1 Cefn Gethinog
Talybont on Usk
Brecon
Powys
LD3 7YN

 

Accountants

W J James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Locksmart BMC Ltd

(Registration number: 09068569)

Balance Sheet
as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,808

4,761

Current assets

 

Debtors

6

15,606

16,204

Cash at bank and in hand

 

600

1,208

 

16,206

17,412

Creditors: Amounts falling due within one year

7

(5,607)

(7,534)

Net current assets

 

10,599

9,878

Total assets less current liabilities

 

14,407

14,639

Creditors: Amounts falling due after more than one year

7

(3,804)

(4,485)

Provisions for liabilities

(724)

(905)

Net assets

 

9,879

9,249

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

9,878

9,248

Total equity

 

9,879

9,249

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

 

Locksmart BMC Ltd

(Registration number: 09068569)

Balance Sheet
as at 30 June 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 March 2024
 

.........................................

Mr D R Thomas

Director

 

Locksmart BMC Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales within the United Kingdom.

The address of its registered office is:
1 Cefn Gethinog
Talybont on Usk
Brecon
Powys
LD3 7YN

These financial statements were authorised for issue by the director on 28 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the fair value of services provided to the customer to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided at that date based on the appropriate proportion of the total expected consideration at completion.

Tax

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

The current corporation 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 taxable income.

 

Locksmart BMC Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% on reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Locksmart BMC Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

952

1,190

 

Locksmart BMC Ltd

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

15,952

15,952

At 30 June 2023

15,952

15,952

Depreciation

At 1 July 2022

11,191

11,191

Charge for the year

953

953

At 30 June 2023

12,144

12,144

Carrying amount

At 30 June 2023

3,808

3,808

At 30 June 2022

4,761

4,761

6

Debtors

2023
£

2022
£

Other debtors

15,606

16,204

15,606

16,204

 

Locksmart BMC Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

1,483

1,467

Trade creditors

 

1,238

1,478

Other creditors

 

2,886

4,589

 

5,607

7,534

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

3,804

4,485

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

3,804

4,485

2023
£

2022
£

Current loans and borrowings

Bank borrowings

1,483

1,467