Company registration number 01237267 (England and Wales)
A & D LOCK AND KEY CO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
A & D LOCK AND KEY CO LIMITED
COMPANY INFORMATION
Directors
Mr C Radford
Mr I A Underwood
Secretary
Mr I A Underwood
Company number
01237267
Registered office
6/7 Hockley Hill
Birmingham
West Midlands
B18 5AA
Accountants
Malcolm Piper & Company Limited
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
United Kingdom
B44 8LS
A & D LOCK AND KEY CO LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
A & D LOCK AND KEY CO LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF A & D LOCK AND KEY CO LIMITED FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A & D Lock and Key Co Limited for the year ended 31 December 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of A & D Lock and Key Co Limited, as a body, in accordance with the terms of our engagement letter dated 15 January 2021. Our work has been undertaken solely to prepare for your approval the financial statements of A & D Lock and Key Co Limited and state those matters that we have agreed to state to the board of directors of A & D Lock and Key Co Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & D Lock and Key Co Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that A & D Lock and Key Co Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A & D Lock and Key Co Limited. You consider that A & D Lock and Key Co Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of A & D Lock and Key Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Malcolm Piper & Company Limited
12 May 2025
Chartered Accountants
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
United Kingdom
B44 8LS
A & D LOCK AND KEY CO LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
285,098
296,618
Current assets
Stock
28,422
37,378
Debtors
4
73,260
99,969
Cash at bank and in hand
215,126
292,468
316,808
429,815
Creditors: amounts falling due within one year
5
(123,928)
(189,984)
Net current assets
192,880
239,831
Total assets less current liabilities
477,978
536,449
Creditors: amounts falling due after more than one year
6
(20,272)
(28,118)
Provisions for liabilities
7
(13,276)
(15,327)
Net assets
444,430
493,004
Capital and reserves
Called up share capital
8
13,705
13,705
Profit and loss reserves
430,725
479,299
Total equity
444,430
493,004
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
A & D LOCK AND KEY CO LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 12 May 2025 and are signed on its behalf by:
Mr C Radford
Director
Company Registration No. 01237267
A & D LOCK AND KEY CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information
A & D Lock and Key Co Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6/7 Hockley Hill, Birmingham, West Midlands, B18 5AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Not depreciated
Plant and equipment
20% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
33% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Contrary to the requirements of FRS 102, no depreciation is provided on freehold buildings because the directors have no record of their cost, separate from that of the freehold land, and keep the buildings well maintained, and so do not consider that their value is ever likely to fall below their initial cost.
1.4
Stock
Stock is stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.
A & D LOCK AND KEY CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
A & D LOCK AND KEY CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2024
220,000
18,255
9,980
5,830
128,866
382,931
Additions
1,500
1,500
Disposals
(20,650)
(20,650)
At 31 December 2024
220,000
18,255
11,480
5,830
108,216
363,781
Depreciation and impairment
At 1 January 2024
12,192
8,435
4,211
61,473
86,311
Depreciation charged in the year
1,215
309
535
8,896
10,955
Eliminated in respect of disposals
(18,583)
(18,583)
At 31 December 2024
13,407
8,744
4,746
51,786
78,683
Carrying amount
At 31 December 2024
220,000
4,848
2,736
1,084
56,430
285,098
At 31 December 2023
220,000
6,062
1,545
1,619
67,392
296,618
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
65,168
93,486
Other debtors
8,092
6,483
73,260
99,969
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
27,859
45,281
Taxation and social security
40,098
77,994
Other creditors
55,971
66,709
123,928
189,984
A & D LOCK AND KEY CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
20,272
28,118
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
13,276
15,327
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
8,908
8,908
8,908
8,908
Ordinary A shares of £1 each
4,797
4,797
4,797
4,797
13,705
13,705
13,705
13,705