REGISTERED NUMBER: 04117670 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Nord-Lock Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr G P Souter

Mr M Lundevall

Mr R Berends

SECRETARY:

Mr M Lundevall

REGISTERED OFFICE:

Kingsgate House

Newbury Road

Andover

Hampshire

SP10 4DU

REGISTERED NUMBER:

04117670 (England and Wales)

SENIOR STATUTORY AUDITOR:

Julie M Butler FCA

AUDITORS:

Butler & Co Audit Limited

Chartered Accountants and Registered Auditors

The Old Stables

Sutton Manor Farm

Bishop's Sutton

Alresford

Hampshire

SO24 0AA

BANKERS:

HSBC

8 London Street

Basingstoke

Hampshire

RG21 7NU

FIXED ASSETS

Tangible assets

4

22,403

11,014

CURRENT ASSETS

Stocks

25,934

23,716

Debtors

5

3,267,734

920,474

Cash at bank

892,887

337,055

4,186,555

1,281,245

CREDITORS

Amounts falling due within one year

6

3,394,468

754,191

NET CURRENT ASSETS

792,087

527,054

TOTAL ASSETS LESS CURRENT LIABILITIES

814,490

538,068

PROVISIONS FOR LIABILITIES

7

5,600

2,480

NET ASSETS

808,890

535,588

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

808,790

535,488

SHAREHOLDERS' FUNDS

808,890

535,588

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 29 September 2025 and were signed on its behalf by:

Mr G P Souter - Director

1.	STATUTORY INFORMATION

Nord-Lock 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.

Revenue is recognised only when risks and rewards of ownership have been transferred, the buyer has control of the goods, revenues can be measured reliably, and it is probable that the economic benefits will flow to the company.

Tangible fixed assets

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

Improvements to leasehold property

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at th present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, and bank balances.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange determined by the parent company on a monthly basis. Exchange differences are taken into account in arriving at the operating result.

Daily transactions in foreign currencies are translated into sterling using an exchange rate determined at the start of each month.

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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide terminations benefits.

European region fee

During the year the company recharges other entities within the European group for costs incurred on their behalf.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Fixtures

leasehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

23,074

57,526

41,168

121,768

Additions

-

9,404

10,949

20,353

At 31 December 2024

23,074

66,930

52,117

142,121

DEPRECIATION

At 1 January 2024

23,074

50,182

37,498

110,754

Charge for year

-

4,477

4,487

8,964

At 31 December 2024

23,074

54,659

41,985

119,718

NET BOOK VALUE

At 31 December 2024

-

12,271

10,132

22,403

At 31 December 2023

-

7,344

3,670

11,014

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

3,139,482

835,138

Other debtors

128,252

85,336

3,267,734

920,474

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

2,609,147

474,725

Taxation and social security

576,806

155,925

Other creditors

208,515

123,541

3,394,468

754,191

7.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

5,600

2,480

Deferred

tax

£

Balance at 1 January 2024

2,480

Accelerated capital allowances

3,120

Balance at 31 December 2024

5,600

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Julie M Butler FCA (Senior Statutory Auditor)

for and on behalf of Butler & Co Audit Limited

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr G P Souter

Balance outstanding at start of year

534

3,504

Amounts repaid

(2,195

)

(2,970

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,661

)

534

The loan account was brought back into credit during the year.

If the loan becomes overdrawn it will be repaid within 9 months of the year-end.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The parent company undertaking of the smallest group of undertakings for which group accounts are drawn up of which this company is a member is Nord-Lock International AB, with its registered office at J A Wettergrens, Gata 7, Gothenburg, 401 25, Sweden.

The ultimate parent company is Investment AB Latour, by virtue of it's shareholding in Nord-Lock International AB.

The ultimate controlling party are the Douglas family, by virtue of their controlling interest and majority holding of the voting rights in Investment AB Latour.