Charnwood Lock And Key Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 08430507

		30 April 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		16,029		21,375

			16,029		21,375
CURRENT ASSETS
Stocks	6	2,000		2,000
Debtors	7	31,781		20,595
Cash at bank and in hand		42,528		38,262

		76,309		60,857
Creditors: Amounts Falling Due Within One Year	8	(54,703 )		(41,719 )

NET CURRENT ASSETS (LIABILITIES)			21,606		19,138

TOTAL ASSETS LESS CURRENT LIABILITIES			37,635		40,513

Creditors: Amounts Falling Due After More Than One Year	9		(6,900 )		(11,883 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,046 )		(4,061 )

NET ASSETS			27,689		24,569

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			27,589		24,469

SHAREHOLDERS' FUNDS			27,689		24,569

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Charnwood Lock And Key Limited

Balance Sheet (continued)

As At 30 April 2025

For the period ending 30 April 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 H W Stafford

Director

18th June 2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Charnwood Lock And Key Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08430507 . The registered office is 7a Wards End, Loughborough, Leicester, LE11 3HA.

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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. 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:

Motor Vehicles	25% reducing balance
Computer Equipment	33 1/3% reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Charnwood Lock And Key Limited

Notes to the Financial Statements (continued)

For the Period 1 April 2024 to 30 April 2025

2.6. 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.

2.7. Taxation

Taxation expense represents the sum of the tax currently payable and deferred tax.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered a net liability may crystallise.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 4)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	20,000

As at 30 April 2025	20,000

Amortisation
As at 1 April 2024	20,000

As at 30 April 2025	20,000

Net Book Value
As at 30 April 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Motor Vehicles	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	34,888	7,441	42,329

As at 30 April 2025	34,888	7,441	42,329

...CONTINUED

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Charnwood Lock And Key Limited

Notes to the Financial Statements (continued)

For the Period 1 April 2024 to 30 April 2025

Depreciation
As at 1 April 2024	15,265	5,689	20,954
Provided during the period	4,906	440	5,346

As at 30 April 2025	20,171	6,129	26,300

Net Book Value
As at 30 April 2025	14,717	1,312	16,029

As at 1 April 2024	19,623	1,752	21,375

6. Stocks

	30 April 2025	31 March 2024
	£	£
Stock	2,000	2,000

7. Debtors

	30 April 2025	31 March 2024
	£	£
Due within one year
Trade debtors	27,912	19,270
Prepayments and accrued income	3,869	1,325

	31,781	20,595

8. Creditors: Amounts Falling Due Within One Year

	30 April 2025	31 March 2024
	£	£
Net obligations under finance lease and hire purchase contracts	4,600	4,600
Trade creditors	13,064	10,906
Corporation tax	17,948	11,033
Other taxes and social security	416	284
VAT	10,189	5,730
Other creditors	93	93
Accruals and deferred income	2,885	3,723
Directors' loan accounts	5,508	5,350

	54,703	41,719

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Charnwood Lock And Key Limited

Notes to the Financial Statements (continued)

For the Period 1 April 2024 to 30 April 2025

9. Creditors: Amounts Falling Due After More Than One Year

	30 April 2025	31 March 2024
	£	£
Net obligations under finance lease and hire purchase contracts	6,900	11,883

10. Obligations Under Finance Leases and Hire Purchase

	30 April 2025	31 March 2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	4,600	4,600
Later than one year and not later than five years	6,900	11,883

	11,500	16,483

	11,500	16,483

11. Share Capital

	30 April 2025	31 March 2024
	£	£
Allotted, Called up and fully paid	100	100

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