1 November 2022 false Taxfiler 2024.4 true 11566240business:PrivateLimitedCompanyLtd2022-11-012023-10-31 115662402022-10-31 115662402022-11-012023-10-31 11566240business:AuditExemptWithAccountantsReport2022-11-012023-10-31 11566240business:FilletedAccounts2022-11-012023-10-31 115662402023-10-31 11566240business:Director12022-11-012023-10-31 11566240business:RegisteredOffice2022-11-012023-10-31 115662402022-10-31 11566240core:WithinOneYear2023-10-31 11566240core:WithinOneYear2022-10-31 11566240core:AfterOneYear2023-10-31 11566240core:AfterOneYear2022-10-31 11566240core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 11566240core:ShareCapitalcore:PreviouslyStatedAmount2022-10-31 11566240core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 11566240core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 11566240core:PreviouslyStatedAmount2023-10-31 11566240core:PreviouslyStatedAmount2022-10-31 11566240business:SmallEntities2022-11-012023-10-31 11566240countries:EnglandWales2022-11-012023-10-31 11566240core:LandBuildings2022-11-012023-10-31 11566240core:PlantMachinery2022-11-012023-10-31 11566240core:FurnitureFittings2022-11-012023-10-31 11566240core:ComputerEquipment2022-11-012023-10-31 11566240core:LandBuildings2022-10-31 11566240core:PlantMachinery2022-10-31 11566240core:MotorVehicles2022-10-31 11566240core:FurnitureFittings2022-10-31 11566240core:ComputerEquipment2022-10-31 11566240core:MotorVehicles2022-11-012023-10-31 11566240core:LandBuildings2023-10-31 11566240core:PlantMachinery2023-10-31 11566240core:MotorVehicles2023-10-31 11566240core:FurnitureFittings2023-10-31 11566240core:ComputerEquipment2023-10-31 11566240core:AfterOneYear2022-11-012023-10-31 11566240business:OrdinaryShareClass12022-11-012023-10-31 11566240business:OrdinaryShareClass12021-11-012022-10-31 115662402021-11-012022-10-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 11566240 (England and Wales)
LOCKSTONE LONDON LIMITED Unaudited accounts for the year ended 31 October 2023
LOCKSTONE LONDON LIMITED Unaudited accounts Contents
Page
- 2 -
LOCKSTONE LONDON LIMITED Company Information for the year ended 31 October 2023
Director
SAM CAPEL LOXTON
Company Number
11566240 (England and Wales)
Registered Office
20-22 WENLOCK ROAD LONDON N1 7GU ENGLAND
Accountants
Insight Business Services Limited 20-22 Wenlock Road London N1 7GU
- 3 -
LOCKSTONE LONDON LIMITED Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
47,926 
27,164 
Current assets
Inventories
699,107 
766,146 
Debtors
592,416 
297,954 
Cash at bank and in hand
99,724 
202,767 
1,391,247 
1,266,867 
Creditors: amounts falling due within one year
(480,613)
(456,398)
Net current assets
910,634 
810,469 
Total assets less current liabilities
958,560 
837,633 
Creditors: amounts falling due after more than one year
(25,154)
(45,802)
Net assets
933,406 
791,831 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
933,306 
791,731 
Shareholders' funds
933,406 
791,831 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 July 2024 and were signed on its behalf by
SAM CAPEL LOXTON Director Company Registration No. 11566240
- 4 -
LOCKSTONE LONDON LIMITED Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
LOCKSTONE LONDON LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11566240. The registered office is 20-22 WENLOCK ROAD, LONDON, N1 7GU, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
4% Reducing Balance Basis
Plant & machinery
6% Reducing Balance Basis
Fixtures & fittings
20% Reducing Balance Basis
Computer equipment
5 Year Straight Line Basis
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Going concern
The accounts have been prepared on a going concern basis.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
- 5 -
LOCKSTONE LONDON LIMITED Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 November 2022
15,000 
508 
- 
13,039 
9,885 
38,432 
Additions
- 
284 
23,288 
1,807 
1,521 
26,900 
At 31 October 2023
15,000 
792 
23,288 
14,846 
11,406 
65,332 
Depreciation
At 1 November 2022
1,729 
102 
- 
5,893 
3,544 
11,268 
Charge for the year
531 
138 
1,397 
1,791 
2,281 
6,138 
At 31 October 2023
2,260 
240 
1,397 
7,684 
5,825 
17,406 
Net book value
At 31 October 2023
12,740 
552 
21,891 
7,162 
5,581 
47,926 
At 31 October 2022
13,271 
406 
- 
7,146 
6,341 
27,164 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
699,107 
766,146 
699,107 
766,146 
The stock is valued at the lower of cost or selling price as at the year end date.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
19,970 
23,289 
Trade debtors
572,446 
274,665 
592,416 
297,954 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
387,418 
367,157 
Taxes and social security
93,045 
89,091 
Accruals
150 
150 
480,613 
456,398 
- 6 -
LOCKSTONE LONDON LIMITED Notes to the Accounts for the year ended 31 October 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
25,154 
35,802 
Other creditors
- 
10,000 
25,154 
45,802 
The company has taken advantage under the amendments to FRS102 FRED67 to take an exemption from discounting on recognition of the loan at present value.
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
- 7 -