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REGISTERED NUMBER: 01645133 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THOMAS LOCKSMITHS LIMITED

THOMAS LOCKSMITHS LIMITED (REGISTERED NUMBER: 01645133)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2


THOMAS LOCKSMITHS LIMITED (REGISTERED NUMBER: 01645133)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,816 2,957

CURRENT ASSETS
Stocks 35,000 30,000
Debtors 5 115,574 128,640
Cash at bank 418,674 274,904
569,248 433,544
CREDITORS
Amounts falling due within one year 6 (135,368 ) (127,204 )
NET CURRENT ASSETS 433,880 306,340
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,696

309,297

PROVISIONS FOR LIABILITIES (700 ) (740 )
NET ASSETS 435,996 308,557

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 435,994 308,555
435,996 308,557

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

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

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 15 April 2025 and were signed on its behalf by:





M M Thomas - Director


THOMAS LOCKSMITHS LIMITED (REGISTERED NUMBER: 01645133)

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


1. STATUTORY INFORMATION

Thomas Locksmiths Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01645133

Registered office: Unit 1-5
65 Livingstone Road
Hove
East Sussex
BN3 3WN

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery- Straight line over 5 years
Office equipment- Straight line over 5 years


Plant and machinery includes a key cutting machine which is depreciated over its estimated useful life of 10 years.

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

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


THOMAS LOCKSMITHS LIMITED (REGISTERED NUMBER: 01645133)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

3. EMPLOYEES

The average number of employees during the year was 9 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2024 21,015 997 22,012
Additions - 863 863
At 31 December 2024 21,015 1,860 22,875
DEPRECIATION
At 1 January 2024 19,005 50 19,055
Charge for year 667 337 1,004
At 31 December 2024 19,672 387 20,059
NET BOOK VALUE
At 31 December 2024 1,343 1,473 2,816
At 31 December 2023 2,010 947 2,957

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 55,771 68,741
Amounts owed by group undertakings 49,697 49,697
Other debtors 10,106 10,202
115,574 128,640

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 29,172 34,812
Taxation and social security 101,591 86,837
Other creditors 4,605 5,555
135,368 127,204

THOMAS LOCKSMITHS LIMITED (REGISTERED NUMBER: 01645133)

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


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 20,586 33,442
Between one and five years 10,196 32,459
30,782 65,901

8. ULTIMATE CONTROLLING PARTY

During the year, the company was under the control of Thomas & Sons Holding Company Ltd, with which it shares the same registered office address.