11677009falseSUPPLY OF KEYS AND LOCKS FOR COMMERCIAL AND RESIDENTIAL PURPOSES2022-12-012023-11-30http://www.companieshouse.gov.uk/2022-11-30http://www.companieshouse.gov.uk/cd:CompanySecretary12022-12-012023-11-30http://www.companieshouse.gov.uk/pt:PlantMachinery2022-11-30http://www.companieshouse.gov.uk/pt:ShareCapital2022-11-30http://www.companieshouse.gov.uk/cd:Director12022-12-012023-11-30http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2022-11-30http://www.companieshouse.gov.uk/pt:PlantMachinery2023-11-30http://www.companieshouse.gov.uk/pt:ShareCapital2023-11-30http://www.companieshouse.gov.uk/pt:FurnitureFittings2022-11-30http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2023-11-30http://www.companieshouse.gov.uk/pt:ToolsEquipment2022-11-30http://www.companieshouse.gov.uk/pt:FurnitureFittings2023-11-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12022-12-012023-11-30http://www.companieshouse.gov.uk/pt:ToolsEquipment2023-11-30http://www.companieshouse.gov.uk/cd:RegisteredOffice2022-12-012023-11-30http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2022-12-012023-11-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-11-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-11-30http://www.companieshouse.gov.uk/2022-12-012023-11-30http://www.companieshouse.gov.uk/2022-11-30http://www.companieshouse.gov.uk/cd:FRS1022022-12-012023-11-30http://www.companieshouse.gov.uk/2023-11-30http://www.companieshouse.gov.uk/cd:FullAccounts2022-12-012023-11-30http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2022-12-012023-11-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 11677009

KEYLOCKSUPPLIES LTD

ACCOUNTS
FOR THE YEAR ENDED 30/11/2023

Prepared By:
JAN G GROMADZKI
CHARTERED ACCOUNTANT
13 WOLVERHAMPTON ROAD
CODSALL
WOLVERHAMPTON
WEST MIDLANDS
WV8 1PT

KEYLOCKSUPPLIES LTD

ACCOUNTS
FOR THE YEAR ENDED 30/11/2023
DIRECTORS
STEPHEN IAN HYDE
SECRETARY
CAROLE ANNE HYDE
REGISTERED OFFICE
12 MASON DRIVE
HEDNESFORD
CANNOCK
STAFFORDSHIRE
WS12 4GL
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 11677009
BANKERS
LLOYDS BANK plc
ACCOUNTANTS
JAN G GROMADZKI
CHARTERED ACCOUNTANT
13 WOLVERHAMPTON ROAD
CODSALL
WOLVERHAMPTON
WEST MIDLANDS
WV8 1PT

KEYLOCKSUPPLIES LTD

ACCOUNTS
FOR THEYEARENDED30/11/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

KEYLOCKSUPPLIES LTD

BALANCE SHEET AT 30/11/2023
20232022
Notes££
FIXED ASSETS
Tangible assets380,30272,624
CURRENT ASSETS
Stock72,40049,600
Debtors537,42656,286
Cash at bank and in hand2361,606
110,062107,492
CREDITORS: Amounts falling due within one year6164,256133,757
NET CURRENT LIABILITIES(54,194)(26,265)
TOTAL ASSETS LESS CURRENT LIABILITIES26,10846,359
CREDITORS: Amounts falling due after more than one year722,05130,909
PROVISIONS FOR LIABILITIES AND CHARGES82,6904,762
NET ASSETS1,36710,688
CAPITAL AND RESERVES
Called up share capital9100100
Profit and loss account1,26710,588
SHAREHOLDERS' FUNDS1,36710,688
For the year ending 30/11/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 24/11/2024 and signed on their behalf by
.............................
STEPHEN IAN HYDE
Director

KEYLOCKSUPPLIES LTD

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/11/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting FRS 1021 a
The accounts have been prepared under the historical cost convention and are stated in United Kingdom Pounds Sterling.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1b. Going Concern
The company is in a net current liability position of £ 54,194 as at 30 November 2023. However the director has given assurances to the company that he will not draw on his loan account of £ 43,010 for at least twelve months from the date that the balance sheet was signed. The director has given further assurances to the company that he will introduce additional monies, should it be required for the company to pay its debts as they fall due. On this basis the financial statements have been prepared on the going concern basis.
1c. Depreciation
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is an indication that any items have suffered impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.
Plant And Machinerystraight line10%
Commercial Vehiclesstraight line10%
Fixtures And Fittingsstraight line10%
Equipmentstraight line10%
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

KEYLOCKSUPPLIES LTD

2. EMPLOYEES
20232022
No.No.
Average number of employees22
3. TANGIBLE FIXED ASSETS
Plant andCommercialFixtures
MachineryVehiclesand FittingsEquipmentTotal
£££££
Cost
At 01/12/202222,39766,4405314,26893,636
Additions95018,129--19,079
Disposals(540)---(540)
At 30/11/202322,80784,5695314,268112,175
Depreciation
At 01/12/20227,62911,5382121,63321,012
Disposals(270)---(270)
For the year2,1948,4575342711,131
At 30/11/20239,55319,9952652,06031,873
Net Book Amounts
At 30/11/202313,25464,5742662,20880,302
At 30/11/202214,76854,9023192,63572,624
4. STOCK 20232022
££
Stock comprises:
Stock72,40049,600
72,40049,600
5. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors36,97755,797
Other debtors129129
Prepayments320360
37,42656,286

KEYLOCKSUPPLIES LTD

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax4,0724,629
VAT4,19114,981
PAYE control6401,101
Directors current account43,01037,058
Bank loans and overdrafts15,18317,312
Trade creditors87,95953,660
Other creditors5,3661,966
Accruals3,8353,050
164,256133,757
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Lloyds Bank plc bounce back loan (secured) >1yr15,52721,000
LDF Finance - Loan >1yr6,5249,909
22,05130,909
8. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation2,6904,762
2,6904,762
9. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100

KEYLOCKSUPPLIES LTD

10. OTHER FINANCIAL COMMITMENTS
At 30/11/2023 the company was committed to making the following payments under non-cancellable operating leases:
20232022
££
Operating Leases which expire:
Within one year297-
Within two to five years17,40035,194
11. CONTROLLING PARTY
The director Mr S I Hyde owns fifty per cent of the company shares. He also has a beneficial interest in the other fifty per cent which are owned by his wife Mrs C A Hyde.
12. RELATED PARTY TRANSACTIONS
In the year to 30 November 2023 the director and his wife received dividends amounting to £ nil each (2022 - £ 4,000 each).
13. NATURE OF OPERATIONS AND PRINCIPAL ACTIVITIES
The company is principally involved in the procurement and sale of locks and keys for both commercial and residential purposes.
Most of its activities are within the United Kingdom.
14. GENERAL INFORMATION
Keylocksupplies Ltd is a private company limited by shares and incorporated in England. Its registered office is 12 Mason Drive, Hednesford, Cannock, Staffordshire, WS12 4GL.
The financial statements are presented in United Kingdom Pounds Sterling, which is the functional currency of the company.