Codelocks Limited - Accounts to registrar (filleted) - small 18.2
Codelocks Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018 |
| FOR |
| CODELOCKS LIMITED |
| CODELOCKS LIMITED (REGISTERED NUMBER: 02627655) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 31 July 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| CODELOCKS LIMITED |
| COMPANY INFORMATION |
| For The Year Ended 31 July 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 1 Carnegie Road |
| Newbury |
| Berkshire |
| RG14 5DJ |
| BANKERS: |
| 30 Market Place |
| Newbury |
| Berkshire |
| RG14 5AG |
| CODELOCKS LIMITED (REGISTERED NUMBER: 02627655) |
| BALANCE SHEET |
| 31 July 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on its behalf by: |
| CODELOCKS LIMITED (REGISTERED NUMBER: 02627655) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 31 July 2018 |
| 1. | STATUTORY INFORMATION |
| Codelocks Limited is a |
| company's registered number and registered office address can be found on the Company |
| Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard |
| 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose |
| related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding |
| discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Leasehold improvements | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange |
| ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at |
| the rate of exchange ruling at the date of transaction. Exchange differences are taken into account |
| in arriving at the operating result. |
| 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. |
| Deferred taxation |
| Provision is made at current rates for the taxation liability deferred in respect of all material timing |
| differences. |
| CODELOCKS LIMITED (REGISTERED NUMBER: 02627655) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 July 2018 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Leasehold | Plant and | and |
| improvements | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 August 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 July 2018 |
| DEPRECIATION |
| At 1 August 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 August 2017 |
| and 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| 6. | STOCKS |
| 2018 | 2017 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| CODELOCKS LIMITED (REGISTERED NUMBER: 02627655) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 July 2018 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary shares | 0.1p | 100 | 100 |
| 10. | OTHER FINANCIAL COMMITMENTS |
| The company had total commitments at the balance sheet date of £985,750 (2017 - £1,084,942). |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the year end the company owed a director £10,938 (2017 - £50,000). |
| No interest is being charged on the advances made by the director during the year. |
| 12. | RELATED PARTY DISCLOSURES |
| D M Ryan is also a director and shareholder of Codelocks Inc, a company registered in California USA. During the year Codelocks Limited received management fees from Codelocks Inc of £130,688 (2017 £47,288). During the year Codelocks Limited also purchased stock totalling £4,066 (2017 - £9,812) from Codelocks Inc and sold stock totalling £656,450 (2017 - £127,160) to Codelocks Inc. At the balance sheet date the balance owed to Codelocks Limited by Codelocks Inc was £17,310 (2017 - £115,227). |
| 13. | SHARE-BASED PAYMENT TRANSACTIONS AND EVENTS AFTER THE YEAR END |
| The company has in place an Enterprise Management Incentive Scheme which runs until 17 |
| December 2024. |
| After the end of the year and before the accounts were approved an additional new scheme for the |
| benefit of two eligible employees was entered into on 19 December 2018 to run until 19 December |
| 2028. |