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REGISTERED NUMBER: 07656996 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

LOKE LTD

LOKE LTD (REGISTERED NUMBER: 07656996)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LOKE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: M S Henderson





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 07656996 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

LOKE LTD (REGISTERED NUMBER: 07656996)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 745 1,380
Investments 4 79 79
824 1,459

CURRENT ASSETS
Stocks 5 19,691 64,002
Debtors 6 147,391 128,163
Cash at bank 393,913 278,980
560,995 471,145
CREDITORS
Amounts falling due within one year 7 162,629 116,350
NET CURRENT ASSETS 398,366 354,795
TOTAL ASSETS LESS CURRENT
LIABILITIES

399,190

356,254

PROVISIONS FOR LIABILITIES 186 345
NET ASSETS 399,004 355,909

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 399,002 355,907
SHAREHOLDERS' FUNDS 399,004 355,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 29 September 2024 and were signed by:





M S Henderson - Director


LOKE LTD (REGISTERED NUMBER: 07656996)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. 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 represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

LOKE LTD (REGISTERED NUMBER: 07656996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 271 696 8,713 9,680
Additions - - 129 129
At 30 June 2024 271 696 8,842 9,809
DEPRECIATION
At 1 July 2023 204 696 7,400 8,300
Charge for year 67 - 697 764
At 30 June 2024 271 696 8,097 9,064
NET BOOK VALUE
At 30 June 2024 - - 745 745
At 30 June 2023 67 - 1,313 1,380

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 79
NET BOOK VALUE
At 30 June 2024 79
At 30 June 2023 79

Cost or valuation at 30 June 2024 is represented by:

Shares in
group
undertakings
£   
Valuation in 2023 6
Cost 73
79

5. STOCKS
2024 2023
£    £   
Stocks 19,691 64,002

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 52,575 39,905
Amounts owed by group undertakings 83,449 87,353
Directors' current accounts 10,000 -
Accruals 1,367 905
147,391 128,163

LOKE LTD (REGISTERED NUMBER: 07656996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates 2,232 2,232
Tax 63,702 29,357
Social security and other taxes 2,096 1,244
VAT 83,168 75,304
Other creditors 9,569 6,512
Directors' current accounts - 50
Accrued expenses 1,862 1,651
162,629 116,350

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, Mr Henderson took a loan from the company. As at 30 June 2024, the company was owed £10,000 (2023: £50 owed by the company). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

During the year, the company paid Mr Henderson rent amounting to £2,315 (2023: £2,315) as a result of utilising office space within his home.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Henderson & Mrs T Henderson.

This was by virtue of their 100% holding of the issued share capital.