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REGISTERED NUMBER: 04057559 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31st October 2024

for

LHS Locks & Home Security Ltd

LHS Locks & Home Security Ltd (Registered number: 04057559)






Contents of the Financial Statements
for the year ended 31st October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LHS Locks & Home Security Ltd

Company Information
for the year ended 31st October 2024







DIRECTORS: Mr R P Neal
Mrs S Neal



SECRETARY: Mrs S Neal



REGISTERED OFFICE: Copper Lee
Nethergate Street
Hopton
Diss
Norfolk
IP22 2QZ



REGISTERED NUMBER: 04057559 (England and Wales)



ACCOUNTANTS: TWR Accountants
The Old Registrars
57a High Street
Brandon
Suffolk
IP27 0AU



BANKERS: Lloyds TSB
35 King Street
Thetford
Norfolk
IP24 2AX

LHS Locks & Home Security Ltd (Registered number: 04057559)

Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 100 100
Tangible assets 5 6,205 12,954
6,305 13,054

CURRENT ASSETS
Stocks 2,500 2,500
Debtors 6 17,145 14,644
Cash at bank 10,558 2,304
30,203 19,448
CREDITORS
Amounts falling due within one year 7 21,563 22,910
NET CURRENT ASSETS/(LIABILITIES) 8,640 (3,462 )
TOTAL ASSETS LESS CURRENT LIABILITIES 14,945 9,592

CREDITORS
Amounts falling due after more than one
year

8

-

1,614
NET ASSETS 14,945 7,978

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 10 14,943 7,976
SHAREHOLDERS' FUNDS 14,945 7,978

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

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

LHS Locks & Home Security Ltd (Registered number: 04057559)

Balance Sheet - continued
31st October 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 Board of Directors and authorised for issue on 28th January 2025 and were signed on its behalf by:





Mrs S Neal - Director


LHS Locks & Home Security Ltd (Registered number: 04057559)

Notes to the Financial Statements
for the year ended 31st October 2024

1. STATUTORY INFORMATION

LHS Locks & Home Security Ltd 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 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 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.

LHS Locks & Home Security Ltd (Registered number: 04057559)

Notes to the Financial Statements - continued
for the year ended 31st October 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1st November 2023
and 31st October 2024 16,020
AMORTISATION
At 1st November 2023
and 31st October 2024 15,920
NET BOOK VALUE
At 31st October 2024 100
At 31st October 2023 100

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st November 2023 4,773 62,698 67,471
Disposals - (35,205 ) (35,205 )
At 31st October 2024 4,773 27,493 32,266
DEPRECIATION
At 1st November 2023 4,630 49,887 54,517
Charge for year 21 2,028 2,049
Eliminated on disposal - (30,505 ) (30,505 )
At 31st October 2024 4,651 21,410 26,061
NET BOOK VALUE
At 31st October 2024 122 6,083 6,205
At 31st October 2023 143 12,811 12,954

LHS Locks & Home Security Ltd (Registered number: 04057559)

Notes to the Financial Statements - continued
for the year ended 31st October 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st November 2023
and 31st October 2024 17,438
DEPRECIATION
At 1st November 2023 10,082
Charge for year 1,839
At 31st October 2024 11,921
NET BOOK VALUE
At 31st October 2024 5,517
At 31st October 2023 7,356

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,561 14,164
Prepayments and accrued income 584 480
17,145 14,644

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,228 8,428
Hire purchase contracts 1,614 4,597
Tax 6,669 1,796
Social security and other taxes - 356
VAT 6,212 4,336
Directors' current accounts 314 1,948
Accrued expenses 1,526 1,449
21,563 22,910

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 1,614

LHS Locks & Home Security Ltd (Registered number: 04057559)

Notes to the Financial Statements - continued
for the year ended 31st October 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,614 6,211

Obligations under hire purchase are secured on the assets concerned.

10. RESERVES
Retained
earnings
£   

At 1st November 2023 7,976
Profit for the year 32,967
Dividends (26,000 )
At 31st October 2024 14,943

11. ULTIMATE CONTROLLING PARTY

The company was controlled by its directors collectively throughout the current and previous year.