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REGISTERED NUMBER: 08440681 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SMYTHE DECORATIONS LTD

SMYTHE DECORATIONS LTD (REGISTERED NUMBER: 08440681)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SMYTHE DECORATIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: C J Smythe





REGISTERED OFFICE: Flat 1 Regent Court
250-254 Main Road
Gidea Park
Essex
RM2 6LX





REGISTERED NUMBER: 08440681 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ

SMYTHE DECORATIONS LTD (REGISTERED NUMBER: 08440681)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,401 885
12,401 885

CURRENT ASSETS
Debtors 6 30,201 83,576
Cash at bank 46,914 45,310
77,115 128,886
CREDITORS
Amounts falling due within one year 7 26,595 24,220
NET CURRENT ASSETS 50,520 104,666
TOTAL ASSETS LESS CURRENT
LIABILITIES

62,921

105,551

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 62,821 105,451
SHAREHOLDERS' FUNDS 62,921 105,551

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 2 November 2023 and were signed by:





C J Smythe - Director


SMYTHE DECORATIONS LTD (REGISTERED NUMBER: 08440681)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Smythe Decorations 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.

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 company's functional and presentation currency is Pounds sterling.

Revenue recognition
Turnover represents net invoiced sales of goods and services, excluding value added tax. Revenue is recognised in the accounting period in which the services were rendered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is now fully amortised over its estimated useful life of five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on cost
Computer equipment - Straight line over 3 years

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and are depreciated over their useful lives.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

SMYTHE DECORATIONS LTD (REGISTERED NUMBER: 08440681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 30,226
AMORTISATION
At 1 April 2022
and 31 March 2023 30,226
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 14,842 1,623 16,465
Additions 12,399 - 12,399
At 31 March 2023 27,241 1,623 28,864
DEPRECIATION
At 1 April 2022 14,842 738 15,580
Charge for year 258 625 883
At 31 March 2023 15,100 1,363 16,463
NET BOOK VALUE
At 31 March 2023 12,141 260 12,401
At 31 March 2022 - 885 885

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 14,842
DEPRECIATION
At 1 April 2022
and 31 March 2023 14,842
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,597 23,397
Other debtors 2,604 60,179
30,201 83,576

SMYTHE DECORATIONS LTD (REGISTERED NUMBER: 08440681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 15,086 1,007
Corporation tax - 16,942
Other creditors 1,310 1,310
Director's loan account 5,153 -
Accruals and deferred income 5,046 4,961
26,595 24,220

8. SECURED DEBTS

Hire purchase and finance leases are secured on fixed assets as detailed in note 7.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C J Smythe.