Dennis Lock & Key Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05429315 (England and Wales)

DENNIS LOCK & KEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

D E Stokes

Mrs V A Stokes

M D Stokes

Mrs J Wright

SECRETARY:

Mrs J M Wright

REGISTERED OFFICE:

255 Green Lanes

Palmers Green

London

N13 4XE

REGISTERED NUMBER:

05429315 (England and Wales)

ACCOUNTANTS:

John Crook & Partners

Chartered Accountants

255 Green Lanes

Palmers Green

London

N13 4XE

FIXED ASSETS

Intangible assets

4

54,000

72,000

Tangible assets

5

32,908

42,290

86,908

114,290

CURRENT ASSETS

Stocks

17,000

17,000

Debtors

6

93,251

70,442

Cash at bank and in hand

14,788

109,733

125,039

197,175

CREDITORS

Amounts falling due within one year

7

104,886

135,616

NET CURRENT ASSETS

20,153

61,559

TOTAL ASSETS LESS CURRENT LIABILITIES

107,061

175,849

CREDITORS

Amounts falling due after more than one year

8

(21,739

)

(31,445

)

PROVISIONS FOR LIABILITIES

11

(5,874

)

(7,573

)

NET ASSETS

79,448

136,831

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

79,348

136,731

SHAREHOLDERS' FUNDS

79,448

136,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

m the Board of Directors and authorised for issue on 19 December 2023 and were signed on its behalf by:

Mrs V A Stokes - Director

1.	STATUTORY INFORMATION

Dennis Lock & Key Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty 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.

Fixtures and fittings

-

25% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

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.

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 9 (2022 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2022

and 30 April 2023

360,000

AMORTISATION

At 1 May 2022

288,000

Amortisation for year

18,000

At 30 April 2023

306,000

NET BOOK VALUE

At 30 April 2023

54,000

At 30 April 2022

72,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2022

and 30 April 2023

43,182

85,338

9,355

137,875

DEPRECIATION

At 1 May 2022

31,851

56,021

7,713

95,585

Charge for year

1,724

7,329

329

9,382

At 30 April 2023

33,575

63,350

8,042

104,967

NET BOOK VALUE

At 30 April 2023

9,607

21,988

1,313

32,908

At 30 April 2022

11,331

29,317

1,642

42,290

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

84,110

56,790

Prepayments

9,141

13,652

93,251

70,442

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

17,427

38,452

Social security and other taxes

69,628

81,657

Other creditors

6,572

4,225

Bank loan

10,648

10,648

Directors' current accounts

611

634

104,886

135,616

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans (see note 9)

21,739

31,445

9.

LOANS

An analysis of the maturity of loans is given below:

2023

2022

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

10,648

10,648

Amounts falling due between two and five years:

Bank loans - 2-5 years

11,091

20,797

10.	LEASING AGREEMENTS

At the year end the company had total commitments under an operating lease expiring after 5 years of £120,665.

11.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

5,874

7,573

Deferred

tax

£

Balance at 1 May 2022

7,573

Capital allowances

(1,699

)

Balance at 30 April 2023

5,874

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by D.E. Stokes and V.A. Stokes.