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Registered Number: 07538989
England and Wales

 

 

 

CLAUDE N. SMITH LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 203,914    169,189 
203,914    169,189 
Current assets      
Stocks 5,000    2,000 
Debtors 27,110    111,546 
Cash at bank and in hand 155,190    102,698 
187,300    216,244 
Creditors: amount falling due within one year (103,034)   (89,363)
Net current assets 84,266    126,881 
 
Total assets less current liabilities 288,180    296,070 
Net assets 288,180    296,070 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 288,080    295,970 
Shareholder's funds 288,180    296,070 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 28 September 2023 and were signed on its behalf by:


-------------------------------
Nigel Alan Smith
Director
1
General Information
Claude N. Smith Limited is a private company, limited by shares, registered in England and Wales, registration number 07538989, registration address 1a Slate Drift, Collyweston, Stamford, Lincolnshire, PE9 3PG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received in respect of CJRS are credited as taxable income during the year. 
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 12 (2022 : 18).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 March 2022 363,211    76,637      439,848 
Additions 16,053    54,962    12,621    83,636 
Disposals      
At 28 February 2023 379,264    131,599    12,621    523,484 
Depreciation
At 01 March 2022 208,086    62,573      270,659 
Charge for year 36,911    8,845    3,155    48,911 
On disposals      
At 28 February 2023 244,997    71,418    3,155    319,570 
Net book values
Closing balance as at 28 February 2023 134,267    60,181    9,466    203,914 
Opening balance as at 01 March 2022 155,125    14,064      169,189 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

2