REGISTERED NUMBER: 01237267 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

A. & D. LOCK & KEY CO. LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Radford

I A Underwood

REGISTERED OFFICE:

6/7 Hockley Hill

Birmingham

B18 5AA

REGISTERED NUMBER:

01237267 (England and Wales)

ACCOUNTANTS:

Malcolm Piper & Co Limited

Chartered Accountants

Kingsnorth House

Blenheim Way

Birmingham

West Midlands

B44 8LS

FIXED ASSETS

Tangible assets

5

243,477

255,026

CURRENT ASSETS

Stocks

6

45,006

37,807

Debtors

7

196,502

161,469

Cash at bank and in hand

172,380

339,216

413,888

538,492

CREDITORS

Amounts falling due within one year

8

118,820

246,057

NET CURRENT ASSETS

295,068

292,435

TOTAL ASSETS LESS CURRENT LIABILITIES

538,545

547,461

PROVISIONS FOR LIABILITIES

1,364

2,942

NET ASSETS

537,181

544,519

CAPITAL AND RESERVES

Called up share capital

9

13,705

13,705

Retained earnings

10

523,476

530,814

SHAREHOLDERS' FUNDS

537,181

544,519

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 6 September 2017 and were signed on its behalf by:

C Radford - Director

I A Underwood - Director

1.	STATUTORY INFORMATION

A. & D. Lock & Key Co. 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

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 Profit and Loss Account,

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2016

and 31 December 2016

220,000

4,436

7,585

57,735

289,756

DEPRECIATION

At 1 January 2016

-

4,427

7,577

22,726

34,730

Charge for year

-

-

-

11,549

11,549

At 31 December 2016

-

4,427

7,577

34,275

46,279

NET BOOK VALUE

At 31 December 2016

220,000

9

8

23,460

243,477

At 31 December 2015

220,000

9

8

35,009

255,026

6.

STOCKS

2016

2015

£

£

Stocks

45,006

37,807

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

130,766

157,227

Directors' current accounts

60,720

-

Prepayments and accrued income

5,016

4,242

196,502

161,469

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

49,195

33,051

Tax

17,350

9,961

Social security and other taxes

5,158

4,731

VAT

23,688

22,822

Directors' current accounts

18,436

170,575

Accrued expenses

4,993

4,917

118,820

246,057

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

8,908

Ordinary

£1.00

8,908

8,908

4,797

Ordinary A

£1.00

4,797

4,797

13,705

13,705

10.

RESERVES

Retained

earnings

£

At 1 January 2016

530,814

Profit for the year

62,662

Dividends

(70,000

)

At 31 December 2016

523,476

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year Mr I Underwood had net withdrawals totalling £160,058 leaving a balance owing from the

director at the year end of £60,720 [2015 - £(99,338)]. This was repaid by Mr Underwood within nine months of

the year end.

Mr Radford had net withdrawals totalling £52,801 during the year leaving a balance owing to the director of

£18,436 (2015 - £71,238).

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr I Underwood and Mr C Radford..

13.	FIRST YEAR ADOPTION OF FRS102 1A

The company has been required by UK Accounting Standards to adopt FRS 102 Section 1A (for smaller entities)

for the first time in respect of the year ended 31 December 2016. The date of transition to FRS 102 Section 1A

was 1 January 2015. No adjustments were required to the current or previous years in respect of this transition.