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REGISTERED NUMBER: 01645133 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THOMAS LOCKSMITHS LIMITED

THOMAS LOCKSMITHS LIMITED (REGISTERED NUMBER: 01645133)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THOMAS LOCKSMITHS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B J Thomas
M M Thomas





SECRETARY: B J Thomas





REGISTERED OFFICE: Unit 1-5
65 Livingstone Road
Hove
East Sussex
BN3 3WN





REGISTERED NUMBER: 01645133 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

THOMAS LOCKSMITHS LIMITED (REGISTERED NUMBER: 01645133)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,957 2,677

CURRENT ASSETS
Stocks 30,000 20,000
Debtors 5 128,640 119,715
Cash at bank 274,904 170,302
433,544 310,017
CREDITORS
Amounts falling due within one year 6 (127,204 ) (107,720 )
NET CURRENT ASSETS 306,340 202,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

309,297

204,974

PROVISIONS FOR LIABILITIES (740 ) (505 )
NET ASSETS 308,557 204,469

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 308,555 204,467
SHAREHOLDERS' FUNDS 308,557 204,469

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





M M Thomas - Director


THOMAS LOCKSMITHS LIMITED (REGISTERED NUMBER: 01645133)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Thomas 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery- Straight line over 5 years
Office equipment- Straight line over 5 years


Plant and machinery includes a key cutting machine which is depreciated over its estimated useful life of 10 years.

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

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

THOMAS LOCKSMITHS LIMITED (REGISTERED NUMBER: 01645133)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2023 21,015 - 21,015
Additions - 997 997
At 31 December 2023 21,015 997 22,012
DEPRECIATION
At 1 January 2023 18,338 - 18,338
Charge for year 667 50 717
At 31 December 2023 19,005 50 19,055
NET BOOK VALUE
At 31 December 2023 2,010 947 2,957
At 31 December 2022 2,677 - 2,677

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 68,741 61,228
Amounts owed by group undertakings 49,697 49,697
Other debtors 10,202 8,790
128,640 119,715

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 34,812 26,479
Taxation and social security 86,837 74,662
Other creditors 5,555 6,579
127,204 107,720

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 33,442 22,077
Between one and five years 32,459 22,400
65,901 44,477

8. ULTIMATE CONTROLLING PARTY

During the year, the company was under the control of Thomas & Sons Holding Company Ltd, with which it shares the same registered office address.