Caseware UK (AP4) 2021.0.152 2021.0.152 2021-10-312021-10-31true2020-11-01falseNo description of principal activity1610trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12258699 2020-11-01 2021-10-31 12258699 2019-10-12 2020-10-31 12258699 2021-10-31 12258699 2020-10-31 12258699 c:Director1 2020-11-01 2021-10-31 12258699 d:Buildings 2020-11-01 2021-10-31 12258699 d:Buildings 2021-10-31 12258699 d:Buildings 2020-10-31 12258699 d:Buildings d:OwnedOrFreeholdAssets 2020-11-01 2021-10-31 12258699 d:Buildings d:LeasedAssetsHeldAsLessee 2020-11-01 2021-10-31 12258699 d:MotorVehicles 2020-11-01 2021-10-31 12258699 d:MotorVehicles 2021-10-31 12258699 d:MotorVehicles 2020-10-31 12258699 d:MotorVehicles d:OwnedOrFreeholdAssets 2020-11-01 2021-10-31 12258699 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2020-11-01 2021-10-31 12258699 d:OfficeEquipment 2020-11-01 2021-10-31 12258699 d:OfficeEquipment 2021-10-31 12258699 d:OfficeEquipment 2020-10-31 12258699 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-11-01 2021-10-31 12258699 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2020-11-01 2021-10-31 12258699 d:ComputerEquipment 2020-11-01 2021-10-31 12258699 d:ComputerEquipment 2021-10-31 12258699 d:ComputerEquipment 2020-10-31 12258699 d:ComputerEquipment d:OwnedOrFreeholdAssets 2020-11-01 2021-10-31 12258699 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2020-11-01 2021-10-31 12258699 d:OwnedOrFreeholdAssets 2020-11-01 2021-10-31 12258699 d:LeasedAssetsHeldAsLessee 2020-11-01 2021-10-31 12258699 d:CurrentFinancialInstruments 2021-10-31 12258699 d:CurrentFinancialInstruments 2020-10-31 12258699 d:Non-currentFinancialInstruments 2021-10-31 12258699 d:Non-currentFinancialInstruments 2020-10-31 12258699 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 12258699 d:CurrentFinancialInstruments d:WithinOneYear 2020-10-31 12258699 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-31 12258699 d:Non-currentFinancialInstruments d:AfterOneYear 2020-10-31 12258699 d:ShareCapital 2021-10-31 12258699 d:ShareCapital 2020-10-31 12258699 d:RetainedEarningsAccumulatedLosses 2021-10-31 12258699 d:RetainedEarningsAccumulatedLosses 2020-10-31 12258699 c:FRS102 2020-11-01 2021-10-31 12258699 c:AuditExempt-NoAccountantsReport 2020-11-01 2021-10-31 12258699 c:FullAccounts 2020-11-01 2021-10-31 12258699 c:PrivateLimitedCompanyLtd 2020-11-01 2021-10-31 12258699 2 2020-11-01 2021-10-31 iso4217:GBP xbrli:pure

Registered number: 12258699










E M SMITH CONSTRUCTION LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2021

 
E M SMITH CONSTRUCTION LIMITED
REGISTERED NUMBER: 12258699

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
275,382
266,474

  
275,382
266,474

Current assets
  

Stocks
  
415,455
142,830

Debtors: amounts falling due within one year
 5 
713,807
79,772

Cash at bank and in hand
  
206,593
45,676

  
1,335,855
268,278

Creditors: amounts falling due within one year
 6 
(834,225)
(144,774)

Net current assets
  
 
 
501,630
 
 
123,504

Total assets less current liabilities
  
777,012
389,978

Creditors: amounts falling due after more than one year
 7 
(457,706)
(364,865)

Provisions for liabilities
  

Deferred tax
  
(7,295)
(2,432)

  
 
 
(7,295)
 
 
(2,432)

Net assets
  
312,011
22,681


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
311,911
22,581

  
312,011
22,681


Page 1

 
E M SMITH CONSTRUCTION LIMITED
REGISTERED NUMBER: 12258699
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




E M Smith
Director

Date: 29 July 2022

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
E M SMITH CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

1.


General information

E M Smith Construction Limited (registered number 12258699), is a private company limited by shares and incorporated in England & Wales. Its registered address is: Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
E M SMITH CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
Straight line
Motor vehicles
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance
Computer equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
E M SMITH CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
E M SMITH CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2020 - 10).

Page 6

 
E M SMITH CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

4.


Tangible fixed assets





Freehold property
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 November 2020
255,839
11,329
-
-
267,168


Additions
-
18,479
2,550
1,147
22,176



At 31 October 2021

255,839
29,808
2,550
1,147
289,344



Depreciation


At 1 November 2020
431
263
-
-
694


Charge for the year on owned assets
5,117
2,767
382
382
8,648


Charge for the year on financed assets
-
4,620
-
-
4,620



At 31 October 2021

5,548
7,650
382
382
13,962



Net book value



At 31 October 2021
250,291
22,158
2,168
765
275,382



At 31 October 2020
255,408
11,066
-
-
266,474

Page 7

 
E M SMITH CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

5.


Debtors

2021
2020
£
£


Trade debtors
711,952
59,122

Other debtors
1,503
7,690

Prepayments and accrued income
352
12,960

713,807
79,772



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
505,837
115,638

Corporation tax
71,920
3,380

Other taxation and social security
186,331
9,949

Obligations under finance lease and hire purchase contracts
3,096
-

Other creditors
723
-

Accruals and deferred income
66,318
15,807

834,225
144,774



7.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Other loans
445,839
364,865

Net obligations under finance leases and hire purchase contracts
11,867
-

457,706
364,865


 
Page 8