Dennis Lock & Key Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05429315 (England and Wales)

DENNIS LOCK & KEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

D E Stokes

Mrs V A Stokes

M D Stokes

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

144,000

162,000

Tangible assets

5

36,822

30,388

180,822

192,388

CURRENT ASSETS

Stocks

17,000

17,000

Debtors

6

59,484

65,884

Cash at bank and in hand

8,120

74,931

84,604

157,815

CREDITORS

Amounts falling due within one year

7

95,095

143,314

NET CURRENT (LIABILITIES)/ASSETS

(10,491

)

14,501

TOTAL ASSETS LESS CURRENT LIABILITIES

170,331

206,889

PROVISIONS FOR LIABILITIES

9

6,242

4,730

NET ASSETS

164,089

202,159

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

163,989

202,059

SHAREHOLDERS' FUNDS

164,089

202,159

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24 January 2019 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2017 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2017

and 30 April 2018

360,000

AMORTISATION

At 1 May 2017

198,000

Amortisation for year

18,000

At 30 April 2018

216,000

NET BOOK VALUE

At 30 April 2018

144,000

At 30 April 2017

162,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2017

30,004

58,675

6,140

94,819

Additions

3,213

18,522

-

21,735

Disposals

-

(7,995

)

-

(7,995

)

At 30 April 2018

33,217

69,202

6,140

108,559

DEPRECIATION

At 1 May 2017

25,346

32,945

6,140

64,431

Charge for year

1,286

11,064

-

12,350

Eliminated on disposal

-

(5,044

)

-

(5,044

)

At 30 April 2018

26,632

38,965

6,140

71,737

NET BOOK VALUE

At 30 April 2018

6,585

30,237

-

36,822

At 30 April 2017

4,658

25,730

-

30,388

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

53,928

59,714

Prepayments

5,556

6,170

59,484

65,884

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

17,902

87,581

Social security and other taxes

72,039

50,198

Other creditors

4,325

4,706

Directors' current accounts

829

829

95,095

143,314

8.	LEASING AGREEMENTS

At the year end the company had total commitments under an operating lease expiring after 9 years of £189,000.

9.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

6,242

4,730

Deferred

tax

£

Balance at 1 May 2017

4,730

Capital allowances

1,512

Balance at 30 April 2018

6,242

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

11.	ULTIMATE CONTROLLING PARTY