Rutherfords Locksmiths Limited

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

Registered number: 04362688

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		34,602		48,992

			34,602		48,992
CURRENT ASSETS
Stocks	6	202,550		162,800
Debtors	7	67,247		91,393
Cash at bank and in hand		75,984		50,514

		345,781		304,707
Creditors: Amounts Falling Due Within One Year	8	(255,325 )		(209,330 )

NET CURRENT ASSETS (LIABILITIES)			90,456		95,377

TOTAL ASSETS LESS CURRENT LIABILITIES			125,058		144,369

Creditors: Amounts Falling Due After More Than One Year	9		(96,397 )		(134,275 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(8,651 )		(9,916 )

NET ASSETS			20,010		178

CAPITAL AND RESERVES
Called up share capital	11		20,000		20,000
Profit and Loss Account			10		(19,822 )

SHAREHOLDERS' FUNDS			20,010		178

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Rutherfords Locksmiths Limited

Balance Sheet (continued)

As At 31 March 2025

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

M J Wilson

Director

11th November 2025

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

1. General Information

Rutherfords Locksmiths Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04362688 . The registered office is 155 Wellingborough Road, Rushden, Northamptonshire, NN10 9TB.

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.

Goodwill

Goodwill is classified as an asset on the balance sheet and has been fully amortised on a straight line basis over it's useful life.

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:

Leasehold	10% on cost
Plant & Machinery	15% on reducing balance
Motor Vehicles	25% on reducing balance
Fixtures & Fittings	15% on reducing balance
Computer Equipment	25% on cost

2.4. 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.

2.5. 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.

2.6. Taxation

The taxation expense represents the sum of the corporation tax currently payable and any deferred tax.

The corporation tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus 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 in respect of all timing differences that have originated but not reversed at 31 March 2025.

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.

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Rutherfords Locksmiths Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, excluding directors, during the year was: 8 (2024: 8)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	20,000

As at 31 March 2025	20,000

Amortisation
As at 1 April 2024	20,000

As at 31 March 2025	20,000

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2024	4,193	115,871	32,403	20,380
Disposals	-	(27,000 )	-	-

As at 31 March 2025	4,193	88,871	32,403	20,380

Depreciation
As at 1 April 2024	4,193	89,310	14,192	16,516
Provided during the period	-	3,821	4,553	580
Disposals	-	(21,682 )	-	-

As at 31 March 2025	4,193	71,449	18,745	17,096

Net Book Value
As at 31 March 2025	-	17,422	13,658	3,284

As at 1 April 2024	-	26,561	18,211	3,864

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Rutherfords Locksmiths Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2024	1,784	174,631
Disposals	-	(27,000 )

As at 31 March 2025	1,784	147,631

Depreciation
As at 1 April 2024	1,428	125,639
Provided during the period	118	9,072
Disposals	-	(21,682 )

As at 31 March 2025	1,546	113,029

Net Book Value
As at 31 March 2025	238	34,602

As at 1 April 2024	356	48,992

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	12,237	16,316

6. Stocks

	2025	2024
	£	£
Stock	202,550	162,800

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	33,122	22,603
Other debtors	29,300	68,790

	62,422	91,393
Due after more than one year
Other debtors	4,825	-

	67,247	91,393

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Rutherfords Locksmiths Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	4,839	5,187
Trade creditors	85,010	60,632
Bank loans and overdrafts	107,762	64,930
Other creditors	3,531	48,742
Taxation and social security	54,183	29,839

	255,325	209,330

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

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	11,974	16,814
Bank loans	84,423	117,461

	96,397	134,275

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	4,839	5,187
Later than one year and not later than five years	11,974	16,814

	16,813	22,001

	16,813	22,001

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	20,000	20,000

12. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Wayne Brooks	14,800	26,539	(33,755 )	-	7,785
Mr Timothy Nolan	12,117	24,588	(30,195 )	-	6,510
Mr Michael Wilson	30,109	44,209	(74,850 )	-	(531 )

Interest was charged on this balance at a rate of 2.25%. There are no fixed terms for repayment.

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