REGISTERED NUMBER: 08010795 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Lock Studios Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Castley

B Houdayer

T H Warren

REGISTERED OFFICE:

50 De Beauvoir Crescent

London

N1 5SB

REGISTERED NUMBER:

08010795 (England and Wales)

ACCOUNTANTS:

EWP Limited

20 Anchor Terrace

3-13 Southwark Bridge Road

London

SE1 9HQ

FIXED ASSETS

Intangible assets

4

16,875

24,375

Tangible assets

5

137,806

184,211

Investments

6

717,380

2,880

872,061

211,466

CURRENT ASSETS

Debtors

7

1,455,405

1,569,736

Cash at bank

3,265

49,845

1,458,670

1,619,581

CREDITORS

Amounts falling due within one year

8

2,217,012

1,686,352

NET CURRENT LIABILITIES

(758,342

)

(66,771

)

TOTAL ASSETS LESS CURRENT LIABILITIES

113,719

144,695

CAPITAL AND RESERVES

Called up share capital

96

96

Share premium

113,233

113,233

Retained earnings

390

31,366

113,719

144,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 2 July 2025 and were signed on its behalf by:

T H Warren - Director

1.	STATUTORY INFORMATION

Lock Studios 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.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold land and buildings 20% on cost

Plant and equipment 33% on cost

Fixtures and fittings 33% on cost

Computers 33% on cost

Motor vehicles 33% on cost

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

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.

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 27 (2024 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

30,000

AMORTISATION

At 1 April 2024

5,625

Charge for year

7,500

At 31 March 2025

13,125

NET BOOK VALUE

At 31 March 2025

16,875

At 31 March 2024

24,375

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

432,087

552,710

984,797

Additions

-

49,305

49,305

At 31 March 2025

432,087

602,015

1,034,102

DEPRECIATION

At 1 April 2024

316,907

483,679

800,586

Charge for year

48,696

47,014

95,710

At 31 March 2025

365,603

530,693

896,296

NET BOOK VALUE

At 31 March 2025

66,484

71,322

137,806

At 31 March 2024

115,180

69,031

184,211

6.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

At 1 April 2024

2,879

1

2,880

Additions

714,500

-

714,500

At 31 March 2025

717,379

1

717,380

NET BOOK VALUE

At 31 March 2025

717,379

1

717,380

At 31 March 2024

2,879

1

2,880

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

505,647

734,417

Amounts owed by group undertakings

777,569

605,608

Other debtors

172,189

229,711

1,455,405

1,569,736

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

198,649

147,334

Trade creditors

598,833

609,740

Amounts owed to group undertakings

522,820

396,585

Taxation and social security

75,590

122,129

Other creditors

821,120

410,564

2,217,012

1,686,352

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the prior year advances were made to the directors S Castley and T Warren of £9780 and £25036 respectively. These loans have been repaid during the year end.