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REGISTERED NUMBER: 07016493 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Lock 42 Limited

Lock 42 Limited (Registered number: 07016493)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lock 42 Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: I P Redhead
Miss C A Wright





SECRETARY: Miss C A Wright





REGISTERED OFFICE: 2 - 4 Frog Island
Leicester
LE3 5AG





REGISTERED NUMBER: 07016493 (England and Wales)





ACCOUNTANTS: Carter & Co
19 Warren Park Way
Enderby
Leicester
LE19 4SA

Lock 42 Limited (Registered number: 07016493)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 816 297
Investments 5 300 300
1,116 597

CURRENT ASSETS
Stocks 155 98
Debtors 6 449 4,082
Cash at bank and in hand 36,367 21,021
36,971 25,201
CREDITORS
Amounts falling due within one year 7 61,743 54,593
NET CURRENT LIABILITIES (24,772 ) (29,392 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(23,656

)

(28,795

)

CREDITORS
Amounts falling due after more than one
year

8

2,667

4,267
NET LIABILITIES (26,323 ) (33,062 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (26,325 ) (33,064 )
SHAREHOLDERS' FUNDS (26,323 ) (33,062 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 42 Limited (Registered number: 07016493)

Balance Sheet - continued
30 September 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 10 June 2025 and were signed on its behalf by:




I P Redhead - Director



Miss C A Wright - Director


Lock 42 Limited (Registered number: 07016493)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Lock 42 Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 33% on reducing balance

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.

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.

Going concern
The financial statements have been prepared on the going concern basis which assumes the company will continue to trade. The assumption depends upon the ability of the director's to maintain the necessary financial support.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

Lock 42 Limited (Registered number: 07016493)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 42,363 8,997 51,360
Additions - 617 617
At 30 September 2024 42,363 9,614 51,977
DEPRECIATION
At 1 October 2023 42,363 8,700 51,063
Charge for year - 98 98
At 30 September 2024 42,363 8,798 51,161
NET BOOK VALUE
At 30 September 2024 - 816 816
At 30 September 2023 - 297 297

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023
and 30 September 2024 300
NET BOOK VALUE
At 30 September 2024 300
At 30 September 2023 300

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 263 3,782
Other debtors 100 100
Deferred tax asset 86 200
449 4,082

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 171 171
Amounts owed to group undertakings 19,802 7,649
Tax 830 17
VAT 1,579 1,196
Directors' current accounts 38,076 44,325
Accrued expenses 1,285 1,235
61,743 54,593

Lock 42 Limited (Registered number: 07016493)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bounce back loan 2,667 4,267

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
2 Ordinary Shares £1.00 2 2

10. GOING CONCERN

As explained in the accounting policies, the accounts have been prepared on a going concern basis. The ability to trade depends substantially on the continued support of the company's director's. We have accepted management assurances that the director's will maintain the financial support outlined