Registered number
10022559
Lockhouse Games Limited
Unaudited Filleted Accounts
29 February 2024
Lockhouse Games Limited
Registered number: 10022559
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 124,573 143,792
Current assets
Stocks 1,150 1,000
Debtors 4 - 6,378
Cash at bank and in hand 180,174 22,809
181,324 30,187
Creditors: amounts falling due within one year 5 (141,247) (49,590)
Net current assets/(liabilities) 40,077 (19,403)
Total assets less current liabilities 164,650 124,389
Creditors: amounts falling due after more than one year 6 (20,000) (110,544)
Net assets 144,650 13,845
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 143,650 12,845
Shareholders' funds 144,650 13,845
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Chapman
Director
Approved by the board on 2 October 2024
Lockhouse Games Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Build costs over 5 years
Plant and machinery over 4 and 5 years
Fixtures, fittings, tools and equipment over 4 and 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 62,608 338,526 800 401,934
Additions - 72,294 - 72,294
At 29 February 2024 62,608 410,820 800 474,228
Depreciation
At 1 March 2023 42,743 214,759 640 258,142
Charge for the year 11,068 80,285 160 91,513
At 29 February 2024 53,811 295,044 800 349,655
Net book value
At 29 February 2024 8,797 115,776 - 124,573
At 28 February 2023 19,865 123,767 160 143,792
4 Debtors 2024 2023
£ £
Other debtors - 6,378
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 19,033 16,386
Taxation and social security costs 51,670 23,204
Other creditors 60,544 -
141,247 49,590
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,000 30,000
Other creditors - 80,544
20,000 110,544
7 Controlling party
The company is controlled by Mr M Chapman.
8 Other information
Lockhouse Games Limited is a private company limited by shares and incorporated in England. Its registered office is:
Green Roofs
Spring Lane
Sprotborough
Doncaster
DN5 7QL
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