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REGISTERED NUMBER: 08010795 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Lock Studios Ltd

Lock Studios Ltd (Registered number: 08010795)

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


Lock Studios Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S Castley
B Houdayer
T H Warren





REGISTERED OFFICE: 50 De Beauvoir Crescent
London
N1 5SB





REGISTERED NUMBER: 08010795 (England and Wales)





ACCOUNTANTS: EWP Limited
20 Anchor Terrace
3-13 Southwark Bridge Road
London
SE1 9HQ

Lock Studios Ltd (Registered number: 08010795)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,375 -
Tangible assets 5 184,211 243,812
Investments 6 2,880 182
211,466 243,994

CURRENT ASSETS
Debtors 7 1,569,736 1,203,620
Cash at bank and in hand 49,845 76,744
1,619,581 1,280,364
CREDITORS
Amounts falling due within one year 8 1,686,352 883,991
NET CURRENT (LIABILITIES)/ASSETS (66,771 ) 396,373
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,695

640,367

CAPITAL AND RESERVES
Called up share capital 96 96
Share premium 113,233 113,233
Retained earnings 31,366 527,038
144,695 640,367

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 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.

Lock Studios Ltd (Registered number: 08010795)

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 Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





T H Warren - Director


Lock Studios Ltd (Registered number: 08010795)

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


1. STATUTORY INFORMATION

Lock Studios 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.

Computer software is being amortised evenly over its 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.

Leasehold land and buildings 20% on cost
Plant and equipment 33% on cost
Fixtures and fittings 33% on cost
Computers 33% on cost
Motor vehicles 33% on cost

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

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.


Lock Studios Ltd (Registered number: 08010795)

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


2. ACCOUNTING POLICIES - continued
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 27 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 30,000
At 31 March 2024 30,000
AMORTISATION
Charge for year 5,625
At 31 March 2024 5,625
NET BOOK VALUE
At 31 March 2024 24,375

Lock Studios Ltd (Registered number: 08010795)

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


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 399,814 515,374 915,188
Additions 32,273 43,202 75,475
Disposals - (5,866 ) (5,866 )
At 31 March 2024 432,087 552,710 984,797
DEPRECIATION
At 1 April 2023 271,971 399,405 671,376
Charge for year 44,936 84,274 129,210
At 31 March 2024 316,907 483,679 800,586
NET BOOK VALUE
At 31 March 2024 115,180 69,031 184,211
At 31 March 2023 127,843 115,969 243,812

6. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 April 2023 182 - 182
Additions 2,697 1 2,698
At 31 March 2024 2,879 1 2,880
NET BOOK VALUE
At 31 March 2024 2,879 1 2,880
At 31 March 2023 182 - 182

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 734,417 702,568
Amounts owed by group undertakings 605,608 258,348
Other debtors 229,711 242,704
1,569,736 1,203,620

Lock Studios Ltd (Registered number: 08010795)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 147,334 215,333
Trade creditors 609,741 417,129
Amounts owed to group undertakings 396,585 61,136
Taxation and social security 122,129 146,024
Other creditors 410,563 44,369
1,686,352 883,991

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year advances were made to the directors S Castley and T Warren of £9780 and £25036 respectively. These loans have been repaid since the year end.