Registered number
07540262
Locks Catering Contracts Limited
Filleted Accounts
28 February 2025
Locks Catering Contracts Limited
Registered number: 07540262
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 45,410 24,805
Current assets
Debtors 4 330,079 322,942
Cash at bank and in hand 6,551 3,139
336,630 326,081
Creditors: amounts falling due within one year 5 (93,210) (94,414)
Net current assets 243,420 231,667
Total assets less current liabilities 288,830 256,472
Creditors: amounts falling due after more than one year 6 (74,473) (49,983)
Provisions for liabilities (5,560) (3,970)
Net assets 208,797 202,519
Capital and reserves
Called up share capital 1 1
Profit and loss account 208,796 202,518
Shareholder's funds 208,797 202,519
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
A Lock
Director
Approved by the board on 1 August 2025 and signed on its behalf
Locks Catering Contracts Limited
Notes to the Accounts
for the year ended 28 February 2025
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Motor vehicles 25% straight line
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2024 159,308 77,095 236,403
Additions 11,461 34,535 45,996
Disposals - (31,995) (31,995)
At 28 February 2025 170,769 79,635 250,404
Depreciation
At 1 March 2024 155,042 56,556 211,598
Charge for the year 1,217 9,510 10,727
On disposals - (17,331) (17,331)
At 28 February 2025 156,259 48,735 204,994
Net book value
At 28 February 2025 14,510 30,900 45,410
At 29 February 2024 4,266 20,539 24,805
4 Debtors 2025 2024
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 326,742 321,792
Other debtors 3,337 1,150
330,079 322,942
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 6,228 11,317
Obligations under finance lease and hire purchase contracts 4,982 3,439
Amounts owed to group undertakings and undertakings in which the company has a participating interest 26,360 32,575
Taxation and social security costs 274 1,785
Other creditors 55,366 45,298
93,210 94,414
Of the creditors falling due within and after more than one year, the net obligations under finance leases and hire purchase contracts totalling £26,118 (2024 - £16,617) are secured on the assets concerned.
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 30,576 36,805
Obligations under finance lease and hire purchase contracts 21,136 13,178
Other creditors 22,761 -
74,473 49,983
7 Loans 2025 2024
£ £
Creditors include:
Instalments falling due for payment after more than five years 4,552 -
8 Related party transactions
During the year, the director received a salary of £18,200 (2024 - £17,320) and a dividend of £500 (2024 - £1,000) from the company. The company received £4,200 (2024 - £2,846) from, and transferred £11,182 (2024 - £nil) to, the director during the year. At the year-end, the company owed its director £12,672 (2024 - £19,154).

The company transferred £33,150 (2024 - £45,430) to Lock's Properties Limited, a company in common ownership, during the year. It received £28,200 (2024 - £23,250) from Lock's Properties Limited in the same period. At the year end, the company was owed £326,742 (2024 - £321,792) by Lock's Properties Limited.

The company also transferred £6,215 (2024 - £5,300) to Lock Investments Limited, a company in common ownership, during the year. At the year end, the company owed Locks Investments Limited £26,360 (2024 - £32,575).
9 Controlling party
The company is controlled by its director.
10 Other information
Locks Catering Contracts Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Meadow Close
Ilfracombe
EX34 8JA
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