Lockside Software Limited 03035590 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the writing of software that helps organisation manage product information. Geni-sys is targeted at organisations with product portfolios that are hard to manage. It brings together all relevant product information needed for compilation of websites, prod Digita Accounts Production Advanced 6.30.9574.0 true true 03035590 2023-01-01 2023-12-31 03035590 2023-12-31 03035590 core:CurrentFinancialInstruments 2023-12-31 03035590 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03035590 core:OfficeEquipment 2023-12-31 03035590 core:PlantMachinery 2023-12-31 03035590 bus:SmallEntities 2023-01-01 2023-12-31 03035590 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03035590 bus:FullAccounts 2023-01-01 2023-12-31 03035590 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03035590 bus:RegisteredOffice 2023-01-01 2023-12-31 03035590 bus:Director1 2023-01-01 2023-12-31 03035590 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03035590 core:OfficeEquipment 2023-01-01 2023-12-31 03035590 core:PlantMachinery 2023-01-01 2023-12-31 03035590 countries:EnglandWales 2023-01-01 2023-12-31 03035590 2022-12-31 03035590 core:OfficeEquipment 2022-12-31 03035590 core:PlantMachinery 2022-12-31 03035590 2022-01-01 2022-12-31 03035590 2022-12-31 03035590 core:CurrentFinancialInstruments 2022-12-31 03035590 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03035590 core:OfficeEquipment 2022-12-31 03035590 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 03035590

Lockside Software Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Lockside Software Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Lockside Software Limited

(Registration number: 03035590)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,244

1,749

Current assets

 

Debtors

5

12,298

13,368

Cash at bank and in hand

 

48,995

51,456

 

61,293

64,824

Creditors: Amounts falling due within one year

6

(25,203)

(20,849)

Net current assets

 

36,090

43,975

Net assets

 

39,334

45,724

Capital and reserves

 

Called up share capital

100

100

Retained earnings

39,234

45,624

Shareholders' funds

 

39,334

45,724

For the financial year ending 31 December 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 March 2024
 

.........................................
Mr PJ Ritchie
Director

 

Lockside Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
31a Charnham Street
Hungerford
Berkshire
RG17 0EJ
United Kingdom

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.

Going concern

The company continues to rely on the continued support of the director. Mr Ritchie has no intention of seeking repayment of his loan account in the foreseeable future.

The company has returned to profitability and believes it is well placed to manage its business risks successfully despite the current uncertain economic outlook, thus the company continues to adopt the going concern basis of accounting in preparing the financial statements.
 

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Tax

The tax expense for the period comprises current tax payable.

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 taxable income.

 

Lockside Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

Lockside Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

3,877

2,186

6,063

Additions

-

2,416

2,416

Disposals

(1,513)

-

(1,513)

At 31 December 2023

2,364

4,602

6,966

Depreciation

At 1 January 2023

3,877

437

4,314

Charge for the year

-

921

921

Eliminated on disposal

(1,513)

-

(1,513)

At 31 December 2023

2,364

1,358

3,722

Carrying amount

At 31 December 2023

-

3,244

3,244

At 31 December 2022

-

1,749

1,749

5

Debtors

Current

2023
£

2022
£

Trade debtors

12,298

13,368

 

Lockside Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

4,046

2,702

Taxation and social security

13,214

13,184

Other creditors

7,943

4,963

25,203

20,849

7

Related party transactions

Other transactions with the director

Included in other creditors at the year end is a balance of £6,709 (2022 - £3,808).