Newark & Sherwood Locksmiths Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 04913398 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2025

FOR

NEWARK & SHERWOOD LOCKSMITHS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K P McGinley

D W Bennett

SECRETARY:

D W Bennett

REGISTERED OFFICE:

Ossington Chambers

6/8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

04913398 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

72,129

53,653

72,129

53,653

CURRENT ASSETS

Stocks

33,660

26,263

Debtors

6

11,680

26,650

Cash at bank and in hand

97,263

113,743

142,603

166,656

CREDITORS

Amounts falling due within one year

7

27,121

26,270

NET CURRENT ASSETS

115,482

140,386

TOTAL ASSETS LESS CURRENT
LIABILITIES

187,611

194,039

CREDITORS

Amounts falling due after more than one year

8

(100,000

)

(100,000

)

PROVISIONS FOR LIABILITIES

9

(13,704

)

(10,194

)

NET ASSETS

73,907

83,845

CAPITAL AND RESERVES

Called up share capital

10

2

Retained earnings

73,905

83,843

SHAREHOLDERS' FUNDS

73,907

83,845

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th December 2025 and were signed on its behalf by:

D W Bennett - Director

K P McGinley - Director

1.	STATUTORY INFORMATION

Newark & Sherwood Locksmiths 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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st November 2024

and 31st October 2025

30,000

AMORTISATION

At 1st November 2024

and 31st October 2025

30,000

NET BOOK VALUE

At 31st October 2025

-

At 31st October 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1st November 2024

4,399

360

110,092

2,238

117,089

Additions

-

44,614

-

44,614

Disposals

-

(38,944

)

-

(38,944

)

At 31st October 2025

4,399

360

115,762

2,238

122,759

DEPRECIATION

At 1st November 2024

4,310

341

56,550

2,235

63,436

Charge for year

18

3

24,015

1

24,037

Eliminated on disposal

-

(36,843

)

-

(36,843

)

At 31st October 2025

4,328

344

43,722

2,236

50,630

NET BOOK VALUE

At 31st October 2025

71

16

72,040

2

72,129

At 31st October 2024

89

19

53,542

3

53,653

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/25

31/10/24

£

Trade debtors

9,496

23,613

Prepayments

2,184

3,037

11,680

26,650

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/25

31/10/24

£

Trade creditors

6,182

10,179

Tax

7,998

6,558

Social security and other taxes

7,547

2,709

Directors' current accounts

2,800

3,602

Deferred income

940

1,619

Accrued expenses

1,654

1,603

27,121

26,270

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/10/25

31/10/24

£

Directors' loan accounts

100,000

9.	PROVISIONS FOR LIABILITIES

31/10/25

31/10/24

£

Deferred tax

13,704

10,194

Deferred

tax

£

Balance at 1st November 2024

10,194

Accelerated capital allowances

3,510

Balance at 31st October 2025

13,704

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/25

31/10/24

value:

£

2

Ordinary

£1

2