Registered number
12752649
Locksmith Solutions Limited
Filleted Accounts
31 July 2024
Locksmith Solutions Limited
Registered number: 12752649
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,397 -
Current assets
Debtors 4 65,288 74,804
Cash at bank and in hand 497 29,148
65,785 103,952
Creditors: amounts falling due within one year 5 (54,879) (57,399)
Net current assets 10,906 46,553
Total assets less current liabilities 17,303 46,553
Creditors: amounts falling due after more than one year 6 (7,904) (16,063)
Net assets 9,399 30,490
Capital and reserves
Called up share capital 2 2
Profit and loss account 9,397 30,488
Shareholders' funds 9,399 30,490
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kieran Martin James
Director
Approved by the board on 25 April 2025
Locksmith Solutions Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 7,996
At 31 July 2024 7,996
Depreciation
Charge for the year 1,599
At 31 July 2024 1,599
Net book value
At 31 July 2024 6,397
4 Debtors 2024 2023
£ £
Trade debtors 65,288 49,804
Short term loan to director - 25,000
65,288 74,804
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,158 13,034
Due to director 4,622 -
Trade creditors 26,577 30,965
Taxation and social security costs 12,522 12,234
Other creditors - 1,166
54,879 57,399
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,904 16,063
7 Controlling party
The directors are the ultimate owners of the company.
8 Other information
Locksmith Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Associates House
118A East Barnet Road
New Barnet
Hertfordshire
EN4 8RE
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