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REGISTERED NUMBER: 01798536















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Advanced Locking and Locksmithing
Limited

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Statement of Income and Retained Earnings 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Statement of Income and Retained Earnings
for the Year Ended 30 April 2024

2024 2023
Notes £    £   

TURNOVER 190,272 209,086

Cost of sales 78,327 80,358
GROSS PROFIT 111,945 128,728

Administrative expenses 79,867 77,480
OPERATING PROFIT 32,078 51,248


Interest payable and similar expenses 5 476 619
PROFIT BEFORE TAXATION 31,602 50,629

Tax on profit 6 6,113 9,651
PROFIT FOR THE FINANCIAL YEAR 25,489 40,978

Retained earnings at beginning of year 10 20,822

Dividends (25,400 ) (61,790 )

RETAINED EARNINGS AT END OF
YEAR

99

10

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Abridged Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 6,463 7,750
6,463 7,750

CURRENT ASSETS
Stocks 11,022 13,998
Debtors 26,217 21,642
Cash at bank and in hand 86 4,361
37,325 40,001
CREDITORS
Amounts falling due within one year 35,316 32,198
NET CURRENT ASSETS 2,009 7,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,472

15,553

CREDITORS
Amounts falling due after more than one
year

(7,143

)

(14,068

)

PROVISIONS FOR LIABILITIES 10 (1,228 ) (1,473 )
NET ASSETS 101 12

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 99 10
SHAREHOLDERS' FUNDS 101 12

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Abridged Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





Mr P H Griffiths - Director


Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Advanced Locking and Locksmithing Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address are as below:

Registered number: 01798536

Registered office: 132A Bournemouth Road
Chandlers Ford
Eastleigh
Hampshire
SO53 3AL

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1996, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

2024 2023
£    £   
Directors' remuneration 25,140 18,770

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Loan interest 476 619

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 6,267 10,447
Tax prior year 90 -
Total current tax 6,357 10,447

Deferred tax (244 ) (796 )
Tax on profit 6,113 9,651

7. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 8,000
AMORTISATION
At 1 May 2023
and 30 April 2024 8,000
NET BOOK VALUE

At 30 April 2024 -
At 30 April 2023 -

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 123,522
Additions 833
At 30 April 2024 124,355
DEPRECIATION
At 1 May 2023 115,772
Charge for year 2,120
At 30 April 2024 117,892
NET BOOK VALUE
At 30 April 2024 6,463
At 30 April 2023 7,750

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 7,440 7,500

Amounts falling due between one and two years:
Bank loans - 1-2 years 7,143 7,200

Amounts falling due between two and five years:
Bank loans - 2-5 years - 6,868

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,228 1,473

Deferred
tax
£   
Balance at 1 May 2023 1,473
Credit to Statement of Income and Retained Earnings during year (245 )
Balance at 30 April 2024 1,228

Advanced Locking and Locksmithing
Limited (Registered number: 01798536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mrs F M Griffiths
Balance outstanding at start of year 1,686 3,908
Amounts advanced 15,036 1,686
Amounts repaid (12,700 ) (3,908 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,022 1,686

Mr P H Griffiths
Balance outstanding at start of year 1,686 3,907
Amounts advanced 15,036 1,686
Amounts repaid (12,700 ) (3,907 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,022 1,686