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REGISTERED NUMBER: 07809640 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

ALBAN LOCKSMITHS LIMITED

ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALBAN LOCKSMITHS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J K Bundy





SECRETARY: Mr. G T Bundy





REGISTERED OFFICE: 205 Hatfield Road
St. Albans
Hertfordshire
AL1 4SY





REGISTERED NUMBER: 07809640 (England and Wales)





ACCOUNTANTS: ALI IBRAHIM ASSOCIATES
Chartered Certified Accountants
37 Cranbrook drive
ST ALBANS
Hertfordshire
AL4 0ST

ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 73,125 82,875
Tangible assets 5 17,847 22,345
90,972 105,220

CURRENT ASSETS
Stocks 21,543 20,136
Debtors 6 25,679 23,862
Cash at bank and in hand 248,148 252,288
295,370 296,286
CREDITORS
Amounts falling due within one year 7 90,212 150,189
NET CURRENT ASSETS 205,158 146,097
TOTAL ASSETS LESS CURRENT
LIABILITIES

296,130

251,317

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 296,040 251,227
SHAREHOLDERS' FUNDS 296,130 251,317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 December 2024 and were signed by:





J K Bundy - Director


ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

ALBAN LOCKSMITHS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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 2011, 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
Fixtures and fittings - 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.


ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 195,000
AMORTISATION
At 1 April 2023 112,125
Amortisation for year 9,750
At 31 March 2024 121,875
NET BOOK VALUE
At 31 March 2024 73,125
At 31 March 2023 82,875

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 8,103 3,590 60,657 1,167 73,517
Additions 650 800 - - 1,450
At 31 March 2024 8,753 4,390 60,657 1,167 74,967
DEPRECIATION
At 1 April 2023 6,739 2,066 41,244 1,123 51,172
Charge for year 503 581 4,853 11 5,948
At 31 March 2024 7,242 2,647 46,097 1,134 57,120
NET BOOK VALUE
At 31 March 2024 1,511 1,743 14,560 33 17,847
At 31 March 2023 1,364 1,524 19,413 44 22,345

ALBAN LOCKSMITHS LIMITED (Registered number: 07809640)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 20,815 18,998
Other debtors 4,864 4,864
25,679 23,862

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 57,563
Trade creditors 18,314 18,366
Taxation and social security 45,199 37,815
Other creditors 26,699 36,445
90,212 150,189