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REGISTERED NUMBER: 09200462 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Smith Office Supplies Limited

Smith Office Supplies Limited (Registered number: 09200462)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smith Office Supplies Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: K A Smith
Mrs T Smith





REGISTERED OFFICE: 7 Robins Close
Chippenham
Wiltshire
SN14 6XU





REGISTERED NUMBER: 09200462 (England and Wales)





ACCOUNTANTS: R A Leslie & Co. LLP
Chartered Accountants
Gowran House
56 Broad Street
Chipping Sodbury
Bristol
BS37 6AG

Smith Office Supplies Limited (Registered number: 09200462)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,180 4,240
Tangible assets 5 1,648 1,876
4,828 6,116

CURRENT ASSETS
Stocks 6 3,500 3,000
Debtors 7 8,205 9,780
Cash at bank 41,548 50,995
53,253 63,775
CREDITORS
Amounts falling due within one year 8 43,401 40,064
NET CURRENT ASSETS 9,852 23,711
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,680

29,827

CREDITORS
Amounts falling due after more than one
year

9

(12,500

)

(28,500

)

PROVISIONS FOR LIABILITIES (313 ) (356 )
NET ASSETS 1,867 971

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,767 871
SHAREHOLDERS' FUNDS 1,867 971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

Smith Office Supplies Limited (Registered number: 09200462)

Balance Sheet - continued
31 March 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2022 and were signed on its behalf by:





K A Smith - Director


Smith Office Supplies Limited (Registered number: 09200462)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Smith Office Supplies 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 2014, was being amortised evenly over its estimated useful life of seven years, now amended to ten 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.
Equipment, fixtures & fittings - 22% 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.

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.

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.

Smith Office Supplies Limited (Registered number: 09200462)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 12,000
AMORTISATION
At 1 April 2021 7,760
Amortisation for year 1,060
At 31 March 2022 8,820
NET BOOK VALUE
At 31 March 2022 3,180
At 31 March 2021 4,240

5. TANGIBLE FIXED ASSETS
Equipment,
fixtures
& fittings
£   
COST
At 1 April 2021 3,895
Additions 207
At 31 March 2022 4,102
DEPRECIATION
At 1 April 2021 2,019
Charge for year 435
At 31 March 2022 2,454
NET BOOK VALUE
At 31 March 2022 1,648
At 31 March 2021 1,876

6. STOCKS
31.3.22 31.3.21
£    £   
Stock and work in progress 3,500 3,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 8,205 9,780

Smith Office Supplies Limited (Registered number: 09200462)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 8,367 6,434
Corporation tax 487 848
Social security and other taxes 2,673 2,505
VAT 1,256 1,611
Directors' current accounts 30,618 28,666
43,401 40,064

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Directors' loan account 12,500 28,500

10. PENSION COMMITMENTS

The company operate a defined contribution pension scheme for the qualifying directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date there are no unpaid contributions (2021: £nil).