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REGISTERED NUMBER: 06655590 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 30 November 2024 |

| for |

| Lock-Tec (UK) Ltd |

| Lock-Tec (UK) Ltd (Registered number: 06655590) |

Contents of the Financial Statements

for the Year Ended 30 November 2024

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| Lock-Tec (UK) Ltd |

Company Information

for the Year Ended 30 November 2024

| DIRECTORS: | Mr P Tattum

| Mr G Whalley

| REGISTERED OFFICE: | 4-6 Castle Street

| Northwich

| Cheshire

| CW8 1BA

| REGISTERED NUMBER: | 06655590 (England and Wales)

| ACCOUNTANTS: | Buxton Accounting LLP

| Chartered Accountants

| 98 Middlewich Road

| Northwich

| Cheshire

| CW9 7DA

| Lock-Tec (UK) Ltd (Registered number: 06655590) |

Statement of Financial Position

30 November 2024

| 2024 | 2023 |

| Notes | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 24,000 |  | 30,000 |  |

Tangible assets | 5 | 90,158 |  | 77,077 |  |

114,158 |  | 107,077 |  |

CURRENT ASSETS

Stocks | 6 | 203,853 |  | 174,206 |  |

Debtors | 7 | 225,867 |  | 116,397 |  |

Cash at bank and in hand | 169,874 |  | 129,397 |  |

599,594 |  | 420,000 |  |

CREDITORS

Amounts falling due within one year | 8 | 325,986 |  | 258,918 |  |

NET CURRENT ASSETS | 273,608 |  | 161,082 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 387,766 |  | 268,159 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (48,261 | ) | (58,463 | ) |

PROVISIONS FOR LIABILITIES | 11 | (22,540 | ) | (14,645 | ) |

NET ASSETS | 316,965 |  | 195,051 |  |

CAPITAL AND RESERVES

Called up share capital | 12 | 20 |  | 20 |  |

Retained earnings | 316,945 |  | 195,031 |  |

SHAREHOLDERS' FUNDS | 316,965 |  | 195,051 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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-Tec (UK) Ltd (Registered number: 06655590) |

Statement of Financial Position - continued

30 November 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:

Mr P Tattum - Director

Mr G Whalley - Director

| Lock-Tec (UK) Ltd (Registered number: 06655590) |

Notes to the Financial Statements

for the Year Ended 30 November 2024

1. | STATUTORY INFORMATION

| Lock-Tec (UK) 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.

| 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.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

| Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Useful economic lives are reviewed at the end of each reporting period and revised if necessary, subject to the constraint that the revised life shall not exceed 20 years from the date of acquisition. The carrying amount at the date of revision is amortised over the revised estimate of the remaining useful economic life.

| 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.

| Long leasehold | - | 10% on cost

| Plant and machinery | - | 20% on reducing balance

| Motor vehicles | - | 20% 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 statement of financial position date.

| Lock-Tec (UK) Ltd (Registered number: 06655590) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 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 statement of financial position 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.

| 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.

| Financial instruments

| Financial instruments are classified and accounted for, according to the substance of th e contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 12 (2023 - 12 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 December 2023

| and 30 November 2024 | 120,000 |  |

| AMORTISATION

| At 1 December 2023 | 90,000 |  |

| Amortisation for year | 6,000 |  |

| At 30 November 2024 | 96,000 |  |

| NET BOOK VALUE

| At 30 November 2024 | 24,000 |  |

| At 30 November 2023 | 30,000 |  |

| Lock-Tec (UK) Ltd (Registered number: 06655590) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 2024

5. | TANGIBLE FIXED ASSETS

| Long |  | Plant and |  | Motor |

| leasehold |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 December 2023 | 34,460 |  | 66,106 |  | 89,731 |  | 190,297 |  |

| Additions | - |  | 4,946 |  | 50,539 |  | 55,485 |  |

| Disposals | - |  | (1,166 | ) | (22,656 | ) | (23,822 | ) |

| At 30 November 2024 | 34,460 |  | 69,886 |  | 117,614 |  | 221,960 |  |

| DEPRECIATION

| At 1 December 2023 | 33,654 |  | 45,540 |  | 34,026 |  | 113,220 |  |

| Charge for year | 806 |  | 4,916 |  | 17,624 |  | 23,346 |  |

| Eliminated on disposal | - |  | (233 | ) | (4,531 | ) | (4,764 | ) |

| At 30 November 2024 | 34,460 |  | 50,223 |  | 47,119 |  | 131,802 |  |

| NET BOOK VALUE

| At 30 November 2024 | - |  | 19,663 |  | 70,495 |  | 90,158 |  |

| At 30 November 2023 | 806 |  | 20,566 |  | 55,705 |  | 77,077 |  |

6. | STOCKS

2024 | 2023 |

£ | £ |

| Stocks | 203,853 |  | 174,206 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 222,693 |  | 114,103 |  |

| Other debtors | 2,181 |  | 1,358 |  |

| Prepayments | 993 |  | 936 |  |

225,867 |  | 116,397 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 10,012 |  | 9,767 |  |

| Hire purchase contracts | 22,866 |  | 13,173 |  |

| Trade creditors | 180,260 |  | 178,700 |  |

| Corporation tax | 51,117 |  | 10,226 |  |

| Social security and other taxes | 3,055 |  | 5,622 |  |

| VAT | 35,083 |  | 22,850 |  |

| Other creditors | 13,661 |  | 7,620 |  |

| Directors' current accounts | 32 |  | 254 |  |

| Accrued expenses | 9,900 |  | 10,706 |  |

325,986 |  | 258,918 |  |

| Lock-Tec (UK) Ltd (Registered number: 06655590) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 2024

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans - 1-2 years | 8,098 |  | 9,767 |  |

| Bank loans - 2-5 years | - |  | 8,586 |  |

| Hire purchase contracts | 40,163 |  | 40,110 |  |

48,261 |  | 58,463 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Bank loans | 18,110 |  | 28,120 |  |

| Hire purchase contracts | 63,029 |  | 53,283 |  |

81,139 |  | 81,403 |  |

| The hire purchase obligations are secured against their relevant assets.

| A bank facility with a balance of £18,110 (2023: £28,120) is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.

11. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

£ | £ |

| Deferred tax | 22,540 |  | 14,645 |  |

| Deferred |

| tax |

£ |

| Balance at 1 December 2023 | 14,645 |  |

| Charge to Income Statement during year | 7,895 |  |

| Balance at 30 November 2024 | 22,540 |  |

12. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 20 | Ordinary | £1 | 20 |  | 20 |  |

13. | OTHER FINANCIAL COMMITMENTS

| The company has a lease commitment relating to the premises from which it operates amounting to £3,000 per calendar month.

| Lock-Tec (UK) Ltd (Registered number: 06655590) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 2024

14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| As at the balance sheet date the directors were owed £32 (2023: £254).

15. | ULTIMATE CONTROLLING PARTY

| The company is controlled by the Board of Directors.