Hand & Lock (London) Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Hand & Lock (London) Limited

(Registration number: 11990893)
Statement of Financial Position as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	131,103	86,386
Current assets
Stocks		246,096	259,000
Debtors	5	427,553	309,198
Cash at bank and in hand		503,095	324,270
		1,176,744	892,468
Creditors: Amounts falling due within one year	6	(1,217,599)	(889,089)
Net current (liabilities)/assets		(40,855)	3,379
Total assets less current liabilities		90,248	89,765
Provisions for liabilities		(25,758)	(13,038)
Net assets		64,490	76,727
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		63,490	75,727
Shareholders' funds		64,490	76,727

For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Hand & Lock (London) Limited

(Registration number: 11990893)
Statement of Financial Position as at 30 September 2025 (continued)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 11 May 2026 and signed on its behalf by:
 

Mr J R Macleod Director

Hand & Lock (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
86 Margaret Street
London
W1W 8TE

Principal activity

The principal activity of the company is is that of embroidery.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Hand & Lock (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Hand & Lock (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Property improvements	10 years straight line
Fittings, fixtures and equipment	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Hand & Lock (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 36 (2024 - 31).

Hand & Lock (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

4	Tangible assets

	Property improvements £	Fixtures, fittings and equipment £	Total £
Cost or valuation
At 1 October 2024	30,891	120,061	150,952
Additions	-	85,329	85,329
At 30 September 2025	30,891	205,390	236,281
Depreciation
At 1 October 2024	9,267	55,299	64,566
Charge for the year	3,089	37,523	40,612
At 30 September 2025	12,356	92,822	105,178
Carrying amount
At 30 September 2025	18,535	112,568	131,103
At 30 September 2024	21,624	64,762	86,386

5

Debtors

	Note	2025 £	2024 £
Trade debtors		159,978	195,569
Other debtors		195,502	54,171
Prepayments		60,097	59,458
Income tax asset		11,976	-
		427,553	309,198

Hand & Lock (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	150,447	153,418
Taxation and social security	71,451	65,974
Accruals and deferred income	652,168	357,289
Other creditors	343,533	312,408
	1,217,599	889,089

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	79,332	79,332
Later than one year and not later than five years	317,328	317,328
Later than five years	297,495	376,827
	694,155	773,487

The amount of non-cancellable operating lease payments recognised as an expense during the year was £79,332 (2024 - £79,332).