Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 SC158014 Alan Donald iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC158014 2023-05-31 SC158014 2024-05-31 SC158014 2023-06-01 2024-05-31 SC158014 frs-core:CurrentFinancialInstruments 2024-05-31 SC158014 frs-core:ComputerEquipment 2024-05-31 SC158014 frs-core:ComputerEquipment 2023-06-01 2024-05-31 SC158014 frs-core:ComputerEquipment 2023-05-31 SC158014 frs-core:FurnitureFittings 2024-05-31 SC158014 frs-core:FurnitureFittings 2023-06-01 2024-05-31 SC158014 frs-core:FurnitureFittings 2023-05-31 SC158014 frs-core:MotorVehicles 2024-05-31 SC158014 frs-core:MotorVehicles 2023-06-01 2024-05-31 SC158014 frs-core:MotorVehicles 2023-05-31 SC158014 frs-core:PlantMachinery 2024-05-31 SC158014 frs-core:PlantMachinery 2023-06-01 2024-05-31 SC158014 frs-core:PlantMachinery 2023-05-31 SC158014 frs-core:ShareCapital 2024-05-31 SC158014 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC158014 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC158014 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 SC158014 frs-bus:SmallEntities 2023-06-01 2024-05-31 SC158014 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC158014 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC158014 frs-bus:Director1 2023-06-01 2024-05-31 SC158014 frs-countries:Scotland 2023-06-01 2024-05-31 SC158014 2022-05-31 SC158014 2023-05-31 SC158014 2022-06-01 2023-05-31 SC158014 frs-core:CurrentFinancialInstruments 2023-05-31 SC158014 frs-core:ShareCapital 2023-05-31 SC158014 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: SC158014
Anvil Locksmiths Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
14 Newton Place
Glasgow
G3 7PY
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: SC158014
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 89,992 120,810
89,992 120,810
CURRENT ASSETS
Stocks 5 14,276 18,575
Debtors 6 273,234 260,747
Cash at bank and in hand 748,082 618,820
1,035,592 898,142
Creditors: Amounts Falling Due Within One Year 7 (153,308 ) (173,503 )
NET CURRENT ASSETS (LIABILITIES) 882,284 724,639
TOTAL ASSETS LESS CURRENT LIABILITIES 972,276 845,449
NET ASSETS 972,276 845,449
CAPITAL AND RESERVES
Called up share capital 8 25 25
Income Statement 972,251 845,424
SHAREHOLDERS' FUNDS 972,276 845,449
Page 1
Page 2
For the year ending 31 May 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 Income Statement.
On behalf of the board
Alan Donald
Director
16/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Anvil Locksmiths Limited is a private company, limited by shares, incorporated in Scotland, registered number SC158014 . The registered office is Unit 1a Lambhill Quadrant, Kinning Park, Glasgow, G41 1SB.
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. 
2.3. 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 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Reducing Balance
2.4. 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.
2.5. 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 year 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.
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 asset reflects 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 16)
14 16
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 10,983 181,446 3,272 2,946 198,647
Disposals - (9,335 ) - - (9,335 )
As at 31 May 2024 10,983 172,111 3,272 2,946 189,312
Depreciation
As at 1 June 2023 9,090 62,851 3,272 2,624 77,837
Provided during the period 473 29,452 - 106 30,031
Disposals - (8,548 ) - - (8,548 )
As at 31 May 2024 9,563 83,755 3,272 2,730 99,320
Net Book Value
As at 31 May 2024 1,420 88,356 - 216 89,992
As at 1 June 2023 1,893 118,595 - 322 120,810
5. Stocks
2024 2023
£ £
Stock 14,276 18,575
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 273,234 256,264
Other debtors - 1,250
VAT - 3,233
273,234 260,747
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 68,584 89,877
Corporation tax 52,527 67,959
Other taxes and social security 15,393 9,767
VAT 12,054 -
Accruals and deferred income 4,750 5,900
153,308 173,503
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 25 25
Page 4