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REGISTERED NUMBER: 04362688 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

RUTHERFORDS LOCKSMITHS LIMITED

RUTHERFORDS LOCKSMITHS LIMITED (REGISTERED NUMBER: 04362688)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RUTHERFORDS LOCKSMITHS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: M J Wilson
V A Wilson
T Nolan
W Brooks





REGISTERED OFFICE: 155 Wellingborough Road
RUSHDEN
Northamptonshire
NN10 9TB





REGISTERED NUMBER: 04362688 (England and Wales)





ACCOUNTANT: Elsby & Co
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB

RUTHERFORDS LOCKSMITHS LIMITED (REGISTERED NUMBER: 04362688)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 48,992 39,840
48,992 39,840

CURRENT ASSETS
Stocks 162,800 148,000
Debtors 6 92,459 42,183
Cash at bank and in hand 50,514 18,011
305,773 208,194
CREDITORS
Amounts falling due within one year 7 189,682 158,024
NET CURRENT ASSETS 116,091 50,170
TOTAL ASSETS LESS CURRENT LIABILITIES 165,083 90,010

CREDITORS
Amounts falling due after more than one
year

8

(134,275

)

(60,960

)

PROVISIONS FOR LIABILITIES (9,916 ) (7,569 )
NET ASSETS 20,892 21,481

CAPITAL AND RESERVES
Called up share capital 11 20,000 20,000
Retained earnings 892 1,481
SHAREHOLDERS' FUNDS 20,892 21,481

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

RUTHERFORDS LOCKSMITHS LIMITED (REGISTERED NUMBER: 04362688)

BALANCE SHEET - continued
31ST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st November 2024 and were signed on its behalf by:





M J Wilson - Director


RUTHERFORDS LOCKSMITHS LIMITED (REGISTERED NUMBER: 04362688)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Rutherfords 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 is classified as an asset on the balance sheet and has been fully amortised on a straight line basis over it's useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
stock to its present location and condition.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

The average number of employees during the year was 8 (2023 - 8 ) .

RUTHERFORDS LOCKSMITHS LIMITED (REGISTERED NUMBER: 04362688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 20,000
AMORTISATION
At 1st April 2023
and 31st March 2024 20,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1st April 2023 4,193 115,871 20,380
Additions - - -
Disposals - - -
At 31st March 2024 4,193 115,871 20,380
DEPRECIATION
At 1st April 2023 4,193 84,622 15,834
Charge for year - 4,688 682
Eliminated on disposal - - -
At 31st March 2024 4,193 89,310 16,516
NET BOOK VALUE
At 31st March 2024 - 26,561 3,864
At 31st March 2023 - 31,249 4,546

RUTHERFORDS LOCKSMITHS LIMITED (REGISTERED NUMBER: 04362688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2023 19,502 1,309 161,255
Additions 21,755 475 22,230
Disposals (8,854 ) - (8,854 )
At 31st March 2024 32,403 1,784 174,631
DEPRECIATION
At 1st April 2023 15,457 1,309 121,415
Charge for year 6,070 119 11,559
Eliminated on disposal (7,335 ) - (7,335 )
At 31st March 2024 14,192 1,428 125,639
NET BOOK VALUE
At 31st March 2024 18,211 356 48,992
At 31st March 2023 4,045 - 39,840

The net book value of tangible fixed assets includes £ 30,510 (2023 - £ 16,699 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,603 32,397
Other debtors 69,856 9,786
92,459 42,183

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 64,930 18,849
Hire purchase contracts (see note 9) 5,187 9,915
Trade creditors 60,632 61,221
Taxation and social security 53,608 60,244
Other creditors 5,325 7,795
189,682 158,024

RUTHERFORDS LOCKSMITHS LIMITED (REGISTERED NUMBER: 04362688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 117,461 60,960
Hire purchase contracts (see note 9) 16,814 -
134,275 60,960

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 5,187 9,915
Between one and five years 16,814 -
22,001 9,915

Non-cancellable operating leases
2024 2023
£    £   
Within one year 4,118 18,500
Between one and five years 9,593 9,250
13,711 27,750

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 22,001 9,915

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
8,000 Ordinary B £1 8,000 8,000

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
12,000 Share capital 1 £1 12,000 12,000

RUTHERFORDS LOCKSMITHS LIMITED (REGISTERED NUMBER: 04362688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
M J Wilson
Balance outstanding at start of year (49 ) (22,022 )
Amounts advanced 47,230 67,597
Amounts repaid (30,736 ) (45,624 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,445 (49 )

T Nolan
Balance outstanding at start of year (2,931 ) (5,924 )
Amounts advanced 37,493 39,145
Amounts repaid (22,402 ) (36,152 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,160 (2,931 )

W Brooks
Balance outstanding at start of year (115 ) (4,424 )
Amounts advanced 37,346 40,461
Amounts repaid (22,402 ) (36,152 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,829 (115 )

Interest was charged on this balance at a rate of 2.25%. There are no fixed terms for repayment.