REGISTERED NUMBER: 07599953 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

For The Year Ended 31 March 2025

for

Elelock Systems Ltd

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

C P Chrysostomou

P Robinson

REGISTERED OFFICE:

Unit 26

Stort Mill

River Way

Harlow

Essex

CM20 2SN

REGISTERED NUMBER:

07599953 (England and Wales)

ACCOUNTANTS:

GAATS LTD

20-22 Wenlock Road

London

N1 7GU

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

REVIEW OF BUSINESS

Elelock Systems Ltd specialises in the design, development, manufacture and sales of electronic locking solutions.

Over recent years, the markets serviced by Elelock have evolved to include the retail sector, final mile delivery and OEM products.

This financial year has seen Elelock continue development and expansion of its core product range, the retail security systems. Several patent pending new products and strengthening relationships with international customers, indicate a promising 2026 outlook.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

C P Chrysostomou

P Robinson

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

C P Chrysostomou - Director

12 December 2025

FIXED ASSETS

Intangible assets

4

260

390

Tangible assets

5

12,969

11,721

13,229

12,111

CURRENT ASSETS

Debtors

6

144,263

169,216

Cash at bank

266,639

278,943

410,902

448,159

CREDITORS

Amounts falling due within one year

7

114,295

95,455

NET CURRENT ASSETS

296,607

352,704

TOTAL ASSETS LESS CURRENT LIABILITIES

309,836

364,815

PROVISIONS FOR LIABILITIES

8

3,053

2,543

NET ASSETS

306,783

362,272

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

306,683

362,172

SHAREHOLDERS' FUNDS

306,783

362,272

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 12 December 2025 and were signed on its behalf by:

C P Chrysostomou - Director

1.	STATUTORY INFORMATION

Elelock Systems 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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

Debtors

Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price.

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.

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 7 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 April 2024

and 31 March 2025

650

AMORTISATION

At 1 April 2024

260

Amortisation for year

130

At 31 March 2025

390

NET BOOK VALUE

At 31 March 2025

260

At 31 March 2024

390

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2024

16,390

3,133

17,479

37,002

Additions

4,266

-

1,306

5,572

At 31 March 2025

20,656

3,133

18,785

42,574

DEPRECIATION

At 1 April 2024

10,890

1,983

12,408

25,281

Charge for year

2,442

288

1,594

4,324

At 31 March 2025

13,332

2,271

14,002

29,605

NET BOOK VALUE

At 31 March 2025

7,324

862

4,783

12,969

At 31 March 2024

5,500

1,150

5,071

11,721

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

117,203

142,156

Other debtors

27,060

27,060

144,263

169,216

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

34,333

27,031

Taxation and social security

74,573

49,334

Other creditors

5,389

19,090

114,295

95,455

8.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

3,053

2,543

Deferred

tax

£

Balance at 1 April 2024

2,543

Provided during year

510

Balance at 31 March 2025

3,053

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100