Lockie Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05031214 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2015

FOR

LOCKIE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D P K Christian

R Pooley

SECRETARY:

Mrs K J Brown

REGISTERED OFFICE:

Bailey House

4-10 Barttelot Road

Horsham

West Sussex

RH12 1DQ

REGISTERED NUMBER:

05031214 (England and Wales)

ACCOUNTANTS:

D A CLARK & CO. LTD.

Bailey House

4-10 Barttelot Road

Horsham

West Sussex

RH12 1DQ

FIXED ASSETS

Intangible assets

2

59,641

64,057

Tangible assets

3

211,842

238,995

271,483

303,052

CURRENT ASSETS

Stocks

147,768

140,192

Debtors

758,442

452,025

Cash at bank and in hand

35,502

102,239

941,712

694,456

CREDITORS

Amounts falling due within one year

725,709

520,069

NET CURRENT ASSETS

216,003

174,387

TOTAL ASSETS LESS CURRENT
LIABILITIES

487,486

477,439

CREDITORS

Amounts falling due after more than one
year

(14,535

)

-

PROVISIONS FOR LIABILITIES

(20,058

)

(24,391

)

NET ASSETS

452,893

453,048

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

451,893

452,048

SHAREHOLDERS' FUNDS

452,893

453,048

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 June 2016 and were signed on its behalf by:

D P K Christian - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost and 10% on cost

Fixtures and fittings

-

33% on cost, 20% on cost and 10% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

and 30 September 2015

110,440

AMORTISATION

At 1 October 2014

46,383

Amortisation for year

4,416

At 30 September 2015

50,799

NET BOOK VALUE

At 30 September 2015

59,641

At 30 September 2014

64,057

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

704,790

Additions

32,475

At 30 September 2015

737,265

DEPRECIATION

At 1 October 2014

465,795

Charge for year

59,628

At 30 September 2015

525,423

NET BOOK VALUE

At 30 September 2015

211,842

At 30 September 2014

238,995

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.15

30.9.14

value:

£

1,000

Ordinary

£1

1,000