Company registration number 10614965 (England and Wales)
LOCKSPOT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
PAGES FOR FILING WITH REGISTRAR
LOCKSPOT LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
LOCKSPOT LTD
STATEMENT OF FINANCIAL POSITION
AS AT
28 FEBRUARY 2026
28 February 2026
- 1 -
2026
2025
Notes
£
£
£
£
Non-current assets
Intangible assets
4
2,557
-
0
Property, plant and equipment
5
741,098
587,693
743,655
587,693
Current assets
Trade and other receivables
6
7,677
6,023
Cash and cash equivalents
147,999
58,689
155,676
64,712
Current liabilities
7
(195,457)
(162,364)
Net current liabilities
(39,781)
(97,652)
Total assets less current liabilities
703,874
490,041
Non-current liabilities
8
(23,836)
(23,015)
Provisions for liabilities
(162,179)
(127,234)
Net assets
517,859
339,792
Equity
Called up share capital
100
100
Retained earnings
517,759
339,692
Total equity
517,859
339,792
LOCKSPOT LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
28 FEBRUARY 2026
28 February 2026
- 2 -

For the financial year ended 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 8 June 2026 and are signed on its behalf by:
T J M Rees
Director
Company registration number 10614965 (England and Wales)
LOCKSPOT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 3 -
1
Accounting policies
Company information

Lockspot Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Llanelli Gate Business Park, Dafen, Llanelli, Carmarthenshire, SA14 8LQ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown gross of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The company recognises revenue from the following major sources:

- Hire of storage containers

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Hire of storage containers
1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Intangibles
Not depreciated
1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

LOCKSPOT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10 years
Plant and equipment
15 years
Computers
25% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of non-current assets

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

LOCKSPOT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

LOCKSPOT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 6 -
1.11
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

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 are 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
0
0
LOCKSPOT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 7 -
4
Intangible fixed assets
Intangibles
£
Cost
At 1 March 2025
-
0
Additions
2,557
At 28 February 2026
2,557
Amortisation and impairment
At 1 March 2025 and 28 February 2026
-
0
Carrying amount
At 28 February 2026
2,557
At 28 February 2025
-
0
5
Property, plant and equipment
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 March 2025
38,485
710,073
748,558
Additions
14,355
202,012
216,367
At 28 February 2026
52,840
912,085
964,925
Depreciation and impairment
At 1 March 2025
7,640
153,225
160,865
Depreciation charged in the year
4,206
58,756
62,962
At 28 February 2026
11,846
211,981
223,827
Carrying amount
At 28 February 2026
40,994
700,104
741,098
At 28 February 2025
30,845
556,848
587,693
6
Trade and other receivables
2026
2025
Amounts falling due within one year:
£
£
Trade receivables
59
-
0
Other receivables
7,618
6,023
7,677
6,023
LOCKSPOT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 8 -
7
Current liabilities
2026
2025
£
£
Trade payables
40,826
26,878
Taxation and social security
17,118
7,590
Other payables
137,513
127,896
195,457
162,364
8
Non-current liabilities
2026
2025
£
£
Other payables
23,836
23,015
2026-02-28 2025-03-01 false false false 08 June 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr T J M Rees Mr A A M Rees 10614965 2025-03-01 2026-02-28 10614965 2026-02-28 10614965 2025-02-28 10614965 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2026-02-28 10614965 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2025-02-28 10614965 core:LandBuildings 2026-02-28 10614965 core:OtherPropertyPlantEquipment 2026-02-28 10614965 core:LandBuildings 2025-02-28 10614965 core:OtherPropertyPlantEquipment 2025-02-28 10614965 core:CurrentFinancialInstruments core:WithinOneYear 2026-02-28 10614965 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 10614965 core:Non-currentFinancialInstruments core:AfterOneYear 2026-02-28 10614965 core:Non-currentFinancialInstruments core:AfterOneYear 2025-02-28 10614965 core:CurrentFinancialInstruments 2026-02-28 10614965 core:CurrentFinancialInstruments 2025-02-28 10614965 core:ShareCapital 2026-02-28 10614965 core:ShareCapital 2025-02-28 10614965 core:RetainedEarningsAccumulatedLosses 2026-02-28 10614965 core:RetainedEarningsAccumulatedLosses 2025-02-28 10614965 bus:Director1 2025-03-01 2026-02-28 10614965 core:IntangibleAssetsOtherThanGoodwill 2025-03-01 2026-02-28 10614965 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2025-03-01 2026-02-28 10614965 core:LandBuildings core:LongLeaseholdAssets 2025-03-01 2026-02-28 10614965 core:PlantMachinery 2025-03-01 2026-02-28 10614965 core:ComputerEquipment 2025-03-01 2026-02-28 10614965 core:MotorVehicles 2025-03-01 2026-02-28 10614965 2024-03-01 2025-02-28 10614965 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2025-02-28 10614965 core:LandBuildings 2025-02-28 10614965 core:OtherPropertyPlantEquipment 2025-02-28 10614965 2025-02-28 10614965 core:LandBuildings 2025-03-01 2026-02-28 10614965 core:OtherPropertyPlantEquipment 2025-03-01 2026-02-28 10614965 core:Non-currentFinancialInstruments 2026-02-28 10614965 core:Non-currentFinancialInstruments 2025-02-28 10614965 bus:PrivateLimitedCompanyLtd 2025-03-01 2026-02-28 10614965 bus:SmallCompaniesRegimeForAccounts 2025-03-01 2026-02-28 10614965 bus:FRS102 2025-03-01 2026-02-28 10614965 bus:AuditExemptWithAccountantsReport 2025-03-01 2026-02-28 10614965 bus:Director2 2025-03-01 2026-02-28 10614965 bus:FullAccounts 2025-03-01 2026-02-28 xbrli:pure xbrli:shares iso4217:GBP