Company Registration No. 09379602 (England and Wales)
Smithwick Ltd
Unaudited accounts
for the year ended 31 January 2023
Smithwick Ltd
Unaudited accounts
Contents
Smithwick Ltd
Company Information
for the year ended 31 January 2023
Directors
D Monks
M Monks
J E Moxham
Company Number
09379602 (England and Wales)
Registered Office
288 Singlewell Road
Gravesend
Kent
DA11 7RF
Accountants
King & Taylor
123 Cross Lane East
Gravesend
Kent
DA12 5HA
Smithwick Ltd
Statement of financial position
as at 31 January 2023
Investment property
480,000
480,000
Cash at bank and in hand
3,108
4,579
Creditors: amounts falling due within one year
(338,714)
(348,819)
Net current liabilities
(335,478)
(344,113)
Total assets less current liabilities
145,081
136,691
Provisions for liabilities
Deferred tax
(12,482)
(12,482)
Net assets
132,599
124,209
Called up share capital
1
1
Profit and loss account
132,598
124,208
Shareholders' funds
132,599
124,209
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by
M Monks
Director
Company Registration No. 09379602
Smithwick Ltd
Notes to the Accounts
for the year ended 31 January 2023
Smithwick Ltd is a private company, limited by shares, registered in England and Wales, registration number 09379602. The registered office is 288 Singlewell Road, Gravesend, Kent, DA11 7RF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing balance basis
Computer equipment
Straight line over 3 years
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Smithwick Ltd
Notes to the Accounts
for the year ended 31 January 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2022
1,587
984
2,571
At 31 January 2023
1,587
984
2,571
At 1 February 2022
941
826
1,767
Charge for the year
129
116
245
At 31 January 2023
1,070
942
2,012
At 31 January 2023
517
42
559
At 31 January 2022
646
158
804
Fair value at 1 February 2022
480,000
At 31 January 2023
480,000
Amounts falling due within one year
Accrued income and prepayments
128
127
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
10,256
14,861
Loans from directors
328,458
333,958
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).