IRIS Accounts Production v22.2.0.402 02627616 Board of Directors 1.10.20 30.9.21 30.9.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure026276162020-09-30026276162021-09-30026276162020-10-012021-09-30026276162019-09-30026276162019-10-012020-09-30026276162020-09-3002627616ns16:EnglandWales2020-10-012021-09-3002627616ns15:PoundSterling2020-10-012021-09-3002627616ns11:Director12020-10-012021-09-3002627616ns11:PrivateLimitedCompanyLtd2020-10-012021-09-3002627616ns11:SmallEntities2020-10-012021-09-3002627616ns11:AuditExempt-NoAccountantsReport2020-10-012021-09-3002627616ns11:SmallCompaniesRegimeForDirectorsReport2020-10-012021-09-3002627616ns11:SmallCompaniesRegimeForAccounts2020-10-012021-09-3002627616ns11:FullAccounts2020-10-012021-09-3002627616ns11:Director22020-10-012021-09-3002627616ns11:RegisteredOffice2020-10-012021-09-3002627616ns6:CurrentFinancialInstruments2021-09-3002627616ns6:CurrentFinancialInstruments2020-09-3002627616ns6:Non-currentFinancialInstruments2021-09-3002627616ns6:Non-currentFinancialInstruments2020-09-3002627616ns6:ShareCapital2021-09-3002627616ns6:ShareCapital2020-09-3002627616ns6:RetainedEarningsAccumulatedLosses2021-09-3002627616ns6:RetainedEarningsAccumulatedLosses2020-09-3002627616ns6:FurnitureFittings2020-09-3002627616ns6:MotorVehicles2020-09-3002627616ns6:FurnitureFittings2020-10-012021-09-3002627616ns6:MotorVehicles2020-10-012021-09-3002627616ns6:FurnitureFittings2021-09-3002627616ns6:MotorVehicles2021-09-3002627616ns6:FurnitureFittings2020-09-3002627616ns6:MotorVehicles2020-09-3002627616ns6:WithinOneYearns6:CurrentFinancialInstruments2021-09-3002627616ns6:WithinOneYearns6:CurrentFinancialInstruments2020-09-3002627616ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-09-3002627616ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2020-09-3002627616ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2021-09-3002627616ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2020-09-3002627616ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2021-09-3002627616ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2020-09-3002627616ns6:HirePurchaseContracts2021-09-3002627616ns6:HirePurchaseContracts2020-09-3002627616ns6:WithinOneYear2021-09-3002627616ns6:WithinOneYear2020-09-3002627616ns6:BetweenOneFiveYears2021-09-3002627616ns6:BetweenOneFiveYears2020-09-3002627616ns6:AllPeriods2021-09-3002627616ns6:AllPeriods2020-09-3002627616ns11:Director112020-09-3002627616ns11:Director112019-09-3002627616ns11:Director112020-10-012021-09-3002627616ns11:Director112019-10-012020-09-3002627616ns11:Director112021-09-3002627616ns11:Director112020-09-30
REGISTERED NUMBER: 02627616 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2021

FOR

STAN SMITH & SONS LTD

STAN SMITH & SONS LTD (REGISTERED NUMBER: 02627616)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STAN SMITH & SONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2021







DIRECTORS: D M Jackson
P Smith





REGISTERED OFFICE: Sycamore House
Ryder Close
Swadlincote
DE11 9EU





REGISTERED NUMBER: 02627616 (England and Wales)





ACCOUNTANTS: Stanley Yule Chartered Accountants
Waterside House
Waterside Business Park
1649 Pershore Road
Birmingham
West Midlands
B30 3DR

STAN SMITH & SONS LTD (REGISTERED NUMBER: 02627616)

BALANCE SHEET
30 SEPTEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,709 42,498

CURRENT ASSETS
Debtors 5 194,027 190,129
Cash at bank and in hand 134,347 38,511
328,374 228,640
CREDITORS
Amounts falling due within one year 6 561,155 313,466
NET CURRENT LIABILITIES (232,781 ) (84,826 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(199,072

)

(42,328

)

CREDITORS
Amounts falling due after more than one
year

7

67,374

173,979
NET LIABILITIES (266,446 ) (216,307 )

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (276,446 ) (226,307 )
(266,446 ) (216,307 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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.

STAN SMITH & SONS LTD (REGISTERED NUMBER: 02627616)

BALANCE SHEET - continued
30 SEPTEMBER 2021


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 24 August 2022 and were signed on its behalf by:





D M Jackson - Director


STAN SMITH & SONS LTD (REGISTERED NUMBER: 02627616)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021


1. STATUTORY INFORMATION

Stan Smith & Sons Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The directors confirmed that in their opinion the company will have adequate cash resources available to finance its trading and meet its obligations during the course of the next twelve months, hence the accounts have been prepared on a going concern basis.

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.

Government grants
Grants are accounted for under the accruals model as permitted by FRS 102 1a. Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure. Government grants relate to the receipt of Coronavirus Job Retention Scheme income and the interest on the CBILS loan. All are included within other operating income.

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.

STAN SMITH & SONS LTD (REGISTERED NUMBER: 02627616)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021


2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2020
and 30 September 2021 82,898 373,034 455,932
DEPRECIATION
At 1 October 2020 68,159 345,275 413,434
Charge for year 3,272 5,517 8,789
At 30 September 2021 71,431 350,792 422,223
NET BOOK VALUE
At 30 September 2021 11,467 22,242 33,709
At 30 September 2020 14,739 27,759 42,498

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 118,268 182,711
Amounts owed by participating interests 61,725 -
Other debtors 1,798 1,798
Directors' current accounts 120 120
Prepayments 12,116 5,500
194,027 190,129

STAN SMITH & SONS LTD (REGISTERED NUMBER: 02627616)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 84,978 80,349
Hire purchase contracts (see note 8) 25,326 36,156
Trade creditors 67,311 69,239
Amounts owed to group undertakings 364,299 44,269
Social security and other taxes 67 35,753
VAT 14,905 44,200
Accrued expenses 4,269 3,500
561,155 313,466

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans - 1-2 years 67,374 151,053
Hire purchase contracts (see note 8) - 22,926
67,374 173,979

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2021 2020
£    £   
Net obligations repayable:
Within one year 25,326 36,156
Between one and five years - 22,926
25,326 59,082

Non-cancellable operating leases
2021 2020
£    £   
Within one year 29,318 29,318
Between one and five years 43,977 73,295
73,295 102,613

STAN SMITH & SONS LTD (REGISTERED NUMBER: 02627616)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2021 and 30 September 2020:

2021 2020
£    £   
D M Jackson
Balance outstanding at start of year 120 -
Amounts advanced - 120
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 120 120