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Registered number: 03069750
London & Home Counties Safes Ltd
Financial Statements
For The Year Ended 31 March 2025
Eric R Jenkins FCA
Chartered Accountants
104 Southover
London
N12 7HD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03069750
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 22,945 26,590
22,945 26,590
CURRENT ASSETS
Stocks 5 20,250 20,250
Debtors 6 2,600 2,600
Cash at bank and in hand 108,515 102,322
131,365 125,172
Creditors: Amounts Falling Due Within One Year 7 (56,424 ) (65,540 )
NET CURRENT ASSETS (LIABILITIES) 74,941 59,632
TOTAL ASSETS LESS CURRENT LIABILITIES 97,886 86,222
Creditors: Amounts Falling Due After More Than One Year 8 (53,116 ) (55,392 )
NET ASSETS 44,770 30,830
CAPITAL AND RESERVES
Called up share capital 9 150 150
Profit and Loss Account 44,620 30,680
SHAREHOLDERS' FUNDS 44,770 30,830
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D Harvey
Director
Mr S L Vacca
Director
25/09/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
London & Home Counties Safes Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03069750 . The registered office is 104 Southover, London, N12 7HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and equipment 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: )
3 -
Page 3
Page 4
4. Tangible Assets
Plant and equipment
£
Cost
As at 1 April 2024 89,333
Additions 4,003
As at 31 March 2025 93,336
Depreciation
As at 1 April 2024 62,743
Provided during the period 7,648
As at 31 March 2025 70,391
Net Book Value
As at 31 March 2025 22,945
As at 1 April 2024 26,590
5. Stocks
2025 2024
£ £
Stock 20,250 20,250
6. Debtors
2025 2024
£ £
Due within one year
Other debtors 2,600 2,600
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 36,088 47,225
Other creditors 3,250 3,250
Taxation and social security 17,086 15,065
56,424 65,540
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 28,364 34,722
Other creditors 24,752 20,670
53,116 55,392
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Page 5
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 150 150
Page 5