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REGISTERED NUMBER: SC377777 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

K DEVOY LOCK AND SAFE COMPANY LTD

K DEVOY LOCK AND SAFE COMPANY LTD (REGISTERED NUMBER: SC377777)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


K DEVOY LOCK AND SAFE COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: K Devoy





REGISTERED OFFICE: 8 Valleybank
Banton
Kilsyth
G65 0RH





REGISTERED NUMBER: SC377777 (Scotland)





ACCOUNTANTS: D S Anderson
Chartered Accountant
DS Anderson & Co
62 Townhead
Kirkintilloch
Glasgow
G66 1NZ

K DEVOY LOCK AND SAFE COMPANY LTD (REGISTERED NUMBER: SC377777)

ABRIDGED BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,504 9,471

CURRENT ASSETS
Stocks 990 1,020
Debtors 15,704 17,923
Cash at bank 71,058 79,033
87,752 97,976
CREDITORS
Amounts falling due within one year (15,509 ) (19,149 )
NET CURRENT ASSETS 72,243 78,827
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,747

88,298

PROVISIONS FOR LIABILITIES 5 (1,426 ) (1,799 )
NET ASSETS 78,321 86,499

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings 78,320 86,498
SHAREHOLDERS' FUNDS 78,321 86,499

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

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

K DEVOY LOCK AND SAFE COMPANY LTD (REGISTERED NUMBER: SC377777)

ABRIDGED BALANCE SHEET - continued
31 MAY 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 February 2025 and were signed by:





K Devoy - Director


K DEVOY LOCK AND SAFE COMPANY LTD (REGISTERED NUMBER: SC377777)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

K Devoy Lock And Safe Company Ltd is a private company, limited by shares , registered in Scotland. 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 represents net invoiced sales of goods, excluding VAT.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is provided on all tangible fixed assets at the following rates:-

Motor Vehicles25%R.B.
Plant & Machinery25%R.B.
Computer Equipment33 1/3 %S.L.

The assets residual values, useful lives and depreciation methods are reviewed annually and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized in the Statement of comprehensive income.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

K DEVOY LOCK AND SAFE COMPANY LTD (REGISTERED NUMBER: SC377777)

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


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends
Equity dividends are recognised when they become legally payable. Interm equity dividends are recognised when paid.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Statement of financial position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Statement of financial position date.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Profit and Loss Account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

K DEVOY LOCK AND SAFE COMPANY LTD (REGISTERED NUMBER: SC377777)

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


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 27,758
Additions 725
At 31 May 2024 28,483
DEPRECIATION
At 1 June 2023 18,287
Charge for year 2,692
At 31 May 2024 20,979
NET BOOK VALUE
At 31 May 2024 7,504
At 31 May 2023 9,471

5. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 1,426 1,799

Deferred
tax
£   
Balance at 1 June 2023 1,799
Credit to Income Statement during year (373 )
Balance at 31 May 2024 1,426

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary £1 1 1