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REGISTERED NUMBER: 06675236 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Access Locks & Key Shop Ltd.

Access Locks & Key Shop Ltd. (Registered number: 06675236)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Access Locks & Key Shop Ltd.

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mrs A M Gardner
A R Gardner





REGISTERED OFFICE: 8 Capenhurst Lane
Whitby
Ellesmere Port
Cheshire
CH65 7AH





REGISTERED NUMBER: 06675236 (England and Wales)





ACCOUNTANTS: Johnstone Howell & Co
104 Whitby Road
Ellesmere Port
Cheshire
CH65 0AB

Access Locks & Key Shop Ltd. (Registered number: 06675236)

Balance Sheet
31 August 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,714 10,221
6,714 10,221

CURRENT ASSETS
Stocks 23,800 33,200
Debtors 6 1,560 11,979
Cash at bank and in hand 20,099 9,264
45,459 54,443
CREDITORS
Amounts falling due within one year 7 37,150 43,877
NET CURRENT ASSETS 8,309 10,566
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,023

20,787

CREDITORS
Amounts falling due after more than one
year

8

3,659

7,667
NET ASSETS 11,364 13,120

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings 11,354 13,110
SHAREHOLDERS' FUNDS 11,364 13,120

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

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

Access Locks & Key Shop Ltd. (Registered number: 06675236)

Balance Sheet - continued
31 August 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 7 May 2025 and were signed on its behalf by:





A R Gardner - Director


Access Locks & Key Shop Ltd. (Registered number: 06675236)

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

1. STATUTORY INFORMATION

Access Locks & Key Shop 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

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.

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.

Access Locks & Key Shop Ltd. (Registered number: 06675236)

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

2. ACCOUNTING POLICIES - continued

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2023
and 31 August 2024 15,000
AMORTISATION
At 1 September 2023
and 31 August 2024 15,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 September 2023
and 31 August 2024 56,840 39,265 520 96,625
DEPRECIATION
At 1 September 2023 53,984 32,113 307 86,404
Charge for year 952 2,384 171 3,507
At 31 August 2024 54,936 34,497 478 89,911
NET BOOK VALUE
At 31 August 2024 1,904 4,768 42 6,714
At 31 August 2023 2,856 7,152 213 10,221

Access Locks & Key Shop Ltd. (Registered number: 06675236)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,560 4,516
Other debtors - (437 )
VAT - 7,900
1,560 11,979

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other loans 4,000 4,000
Trade creditors 1,662 1,965
Tax 583 806
Social security and other taxes 47 145
VAT 3,251 -
Directors' current accounts 26,407 36,408
Accrued expenses 1,200 553
37,150 43,877

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other loans - 1-2 years 3,659 7,667

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
10 Ordinary £1 10 10

10. OTHER FINANCIAL COMMITMENTS

The minimum lease payments due under non-cancellable operating leases, expiring between one and five years, at 31 August 2024 amount to £22,500 (2023 - £22,500).

11. ULTIMATE CONTROLLING PARTY

The controlling party is A R Gardner.