Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 12872490 M G Shadbolt K A Shadbolt Martin Shadbolt true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12872490 2023-03-31 12872490 2024-03-31 12872490 2023-04-01 2024-03-31 12872490 frs-core:CurrentFinancialInstruments 2024-03-31 12872490 frs-core:BetweenOneFiveYears 2024-03-31 12872490 frs-core:ComputerEquipment 2024-03-31 12872490 frs-core:ComputerEquipment 2023-04-01 2024-03-31 12872490 frs-core:ComputerEquipment 2023-03-31 12872490 frs-core:NetGoodwill 2024-03-31 12872490 frs-core:NetGoodwill 2023-04-01 2024-03-31 12872490 frs-core:NetGoodwill 2023-03-31 12872490 frs-core:MotorVehicles 2024-03-31 12872490 frs-core:MotorVehicles 2023-04-01 2024-03-31 12872490 frs-core:MotorVehicles 2023-03-31 12872490 frs-core:PlantMachinery 2024-03-31 12872490 frs-core:PlantMachinery 2023-04-01 2024-03-31 12872490 frs-core:PlantMachinery 2023-03-31 12872490 frs-core:WithinOneYear 2024-03-31 12872490 frs-core:ShareCapital 2024-03-31 12872490 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12872490 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12872490 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12872490 frs-bus:SmallEntities 2023-04-01 2024-03-31 12872490 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12872490 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12872490 1 2023-04-01 2024-03-31 12872490 frs-bus:Director1 2023-04-01 2024-03-31 12872490 frs-bus:Director1 2023-03-31 12872490 frs-bus:Director1 2024-03-31 12872490 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 12872490 frs-countries:EnglandWales 2023-04-01 2024-03-31 12872490 2022-03-31 12872490 2023-03-31 12872490 2022-04-01 2023-03-31 12872490 frs-core:CurrentFinancialInstruments 2023-03-31 12872490 frs-core:BetweenOneFiveYears 2023-03-31 12872490 frs-core:WithinOneYear 2023-03-31 12872490 frs-core:ShareCapital 2023-03-31 12872490 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 12872490
GJ Locksmiths Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
A K E Tax & Accountancy Ltd
Chartered Certified Accountants
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12872490
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 18,000 21,000
Tangible Assets 5 21,201 25,558
39,201 46,558
CURRENT ASSETS
Stocks 6 3,445 3,281
Debtors 7 14,066 10,836
Cash at bank and in hand 45,221 31,115
62,732 45,232
Creditors: Amounts Falling Due Within One Year 8 (37,551 ) (40,963 )
NET CURRENT ASSETS (LIABILITIES) 25,181 4,269
TOTAL ASSETS LESS CURRENT LIABILITIES 64,382 50,827
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,664 ) (6,134 )
NET ASSETS 59,718 44,693
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 59,618 44,593
SHAREHOLDERS' FUNDS 59,718 44,693
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
M G Shadbolt
Director
30 September 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
GJ Locksmiths Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12872490 . The registered office is Hoddesdon Enterprise Centre, Pindar Road, Hoddesdon, Hertfordshire, EN11 0FJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has purchased the goods.
Rendering of services
Turnover from the rendering of services is recognised at the point the service is completed.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight line
Motor Vehicles 20% Reducing balance
Computer Equipment 20% Straight line
2.5. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. 
2.10. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 30,000
As at 31 March 2024 30,000
Amortisation
As at 1 April 2023 9,000
Provided during the period 3,000
As at 31 March 2024 12,000
Net Book Value
As at 31 March 2024 18,000
As at 1 April 2023 21,000
Page 4
Page 5
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 15,512 16,490 - 32,002
Additions 911 - 529 1,440
As at 31 March 2024 16,423 16,490 529 33,442
Depreciation
As at 1 April 2023 2,706 3,738 - 6,444
Provided during the period 3,141 2,550 106 5,797
As at 31 March 2024 5,847 6,288 106 12,241
Net Book Value
As at 31 March 2024 10,576 10,202 423 21,201
As at 1 April 2023 12,806 12,752 - 25,558
6. Stocks
2024 2023
£ £
Materials 3,445 3,281
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,260 10,190
Other debtors 5,806 646
14,066 10,836
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,718 9,476
Bank loans and overdrafts 2,778 -
Other creditors 1,250 8,635
Taxation and social security 28,805 22,852
37,551 40,963
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5
Page 6
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 11,352 11,456
Later than one year and not later than five years 44,320 44,320
55,672 55,776
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Martin Shadbolt (7,349 ) 48,249 (35,430 ) - 5,470
The above loan is unsecured, interest free and repayable on demand. The loan was repaid within 9 months of the year end.
12. Related Party Transactions
Martin G Shadbolt
The above is a related party by virtue of being the director.
During the period the related party drew monies from his loan account.
At the balance sheet date the director owed £5,470 (2023 - £7,349) to the company.
No interest has been charged on this loan during the period.
13. Ultimate Controlling Party
The company's ultimate controlling party is Martin Shadbolt by virtue of his majority shareholding.
Page 6