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REGISTERED NUMBER: 08617865 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 July 2024

for

LOCKABOX LIMITED

LOCKABOX LIMITED (REGISTERED NUMBER: 08617865)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOCKABOX LIMITED

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: P Morris





REGISTERED OFFICE: Unit 1 Duke Street Chambers
Bridge Street
Kingsbridge
Devon
TQ7 1HX





REGISTERED NUMBER: 08617865 (England and Wales)





ACCOUNTANTS: Haines Watts
3 Southernhay West
Exeter
Devon
EX1 1JG

LOCKABOX LIMITED (REGISTERED NUMBER: 08617865)

Balance Sheet
31 JULY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 81,110 50,859
Tangible assets 6 116,264 68,763
197,374 119,622

CURRENT ASSETS
Stocks 193,860 157,567
Debtors 7 107,191 131,860
Cash at bank 76,322 164,158
377,373 453,585
CREDITORS
Amounts falling due within one year 8 (201,269 ) (237,999 )
NET CURRENT ASSETS 176,104 215,586
TOTAL ASSETS LESS CURRENT
LIABILITIES

373,478

335,208

CREDITORS
Amounts falling due after more than one
year

9

(12,675

)

(13,253

)
NET ASSETS 360,803 321,955

CAPITAL AND RESERVES
Called up share capital 22,039 22,039
Share premium 429,427 429,427
Retained earnings (90,663 ) (129,511 )
SHAREHOLDERS' FUNDS 360,803 321,955

LOCKABOX LIMITED (REGISTERED NUMBER: 08617865)

Balance Sheet - continued
31 JULY 2024


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

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

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2025 and were signed by:





P Morris - Director


LOCKABOX LIMITED (REGISTERED NUMBER: 08617865)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024


1. COMPANY INFORMATION

Lockabox 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.

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
Going concern
The director remains supportive of the company and does not consider there to be any material uncertainties which cast significant doubt about the company's ability to continue.

Consequently, the director has a reasonable expectation that the company has adequate resources to continue as a going concern for the foreseeable future and as such the financial statements have been drawn up on that basis.

Turnover
Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Stocks
Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

LOCKABOX LIMITED (REGISTERED NUMBER: 08617865)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


3. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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

Patents and Licences are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life from the date the development is completed.

Digital assets are being amortised evenly over their estimated useful life of five years.

Domain is being amortised evenly over its estimated useful life of three years.

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 - 10% straight line per annum

Computer equipment - 33% straight line per annum

Fixtures and fittings - 20% straight line per annum

Motor vehicles - 25% reducing balance

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

LOCKABOX LIMITED (REGISTERED NUMBER: 08617865)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


5. INTANGIBLE FIXED ASSETS
Patents
Digital and Development
assets licences costs Domain Totals
£    £    £    £    £   
COST
At 1 August 2023 - 37,603 26,067 5,805 69,475
Additions 9,643 4,979 28,984 - 43,606
Reclassification/transfer 18,190 - (18,190 ) - -
At 31 July 2024 27,833 42,582 36,861 5,805 113,081
AMORTISATION
At 1 August 2023 - 14,203 - 4,413 18,616
Amortisation for year 8,835 3,128 - 1,392 13,355
At 31 July 2024 8,835 17,331 - 5,805 31,971
NET BOOK VALUE
At 31 July 2024 18,998 25,251 36,861 - 81,110
At 31 July 2023 - 23,400 26,067 1,392 50,859

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 128,344 4,246 - 10,338 142,928
Additions 42,971 5,797 15,995 454 65,217
At 31 July 2024 171,315 10,043 15,995 10,792 208,145
DEPRECIATION
At 1 August 2023 63,433 1,409 - 9,323 74,165
Charge for year 13,233 3,146 1,000 337 17,716
At 31 July 2024 76,666 4,555 1,000 9,660 91,881
NET BOOK VALUE
At 31 July 2024 94,649 5,488 14,995 1,132 116,264
At 31 July 2023 64,911 2,837 - 1,015 68,763

LOCKABOX LIMITED (REGISTERED NUMBER: 08617865)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 41,565 51,230
Other debtors 18,859 15,516
Directors' current accounts - 2,219
VAT 8,523 7,988
Deferred tax asset 4,004 25,833
Prepayments 34,240 29,074
107,191 131,860

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,218 21,880
Other loans - 60,197
Hire purchase contracts (see note 10) 2,687 -
Trade creditors 167,432 142,085
Social security and other taxes 828 534
Other creditors 927 9,816
Accrued expenses 14,177 3,487
201,269 237,999

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 13,253
Hire purchase contracts (see note 10) 12,675 -
12,675 13,253

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,687 -
Between one and five years 12,675 -
15,362 -


All leasing commitments have now been paid in full.

LOCKABOX LIMITED (REGISTERED NUMBER: 08617865)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 15,177 35,133
Hire purchase contracts 15,362 -
30,539 35,133

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
P Morris
Balance outstanding at start of year 2,219 -
Amounts advanced 5,201 2,219
Amounts repaid (7,420 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,219