1 March 2022 false No description of principal activity Taxfiler 2023.10 07931202business:PrivateLimitedCompanyLtd2022-03-012023-02-28 079312022022-02-28 079312022022-03-012023-02-28 07931202business:AuditExemptWithAccountantsReport2022-03-012023-02-28 07931202business:FilletedAccounts2022-03-012023-02-28 079312022023-02-28 07931202business:Director12022-03-012023-02-28 07931202business:Director22022-03-012023-02-28 07931202business:RegisteredOffice2022-03-012023-02-28 079312022022-02-28 07931202core:WithinOneYear2023-02-28 07931202core:WithinOneYear2022-02-28 07931202core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 07931202core:ShareCapitalcore:PreviouslyStatedAmount2022-02-28 07931202core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 07931202core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-02-28 07931202core:PreviouslyStatedAmount2023-02-28 07931202core:PreviouslyStatedAmount2022-02-28 07931202business:SmallEntities2022-03-012023-02-28 07931202countries:EnglandWales2022-03-012023-02-28 07931202core:LandBuildings2022-03-012023-02-28 07931202core:PlantMachinery2022-03-012023-02-28 07931202core:MotorVehicles2022-03-012023-02-28 07931202core:FurnitureFittings2022-03-012023-02-28 07931202core:ComputerEquipment2022-03-012023-02-28 07931202core:Goodwill2022-02-28 07931202core:Goodwill2023-02-28 07931202core:LandBuildings2022-02-28 07931202core:PlantMachinery2022-02-28 07931202core:MotorVehicles2022-02-28 07931202core:FurnitureFittings2022-02-28 07931202core:ComputerEquipment2022-02-28 07931202core:LandBuildings2023-02-28 07931202core:PlantMachinery2023-02-28 07931202core:MotorVehicles2023-02-28 07931202core:FurnitureFittings2023-02-28 07931202core:ComputerEquipment2023-02-28 07931202core:AcceleratedTaxDepreciationDeferredTax2023-02-28 07931202core:AcceleratedTaxDepreciationDeferredTax2022-02-28 079312022021-02-28 079312022021-03-012022-02-28 iso4217:GBP xbrli:pure
Company Registration No. 07931202 (England and Wales)
T Smith Limited Unaudited accounts for the year ended 28 February 2023
T Smith Limited Unaudited accounts Contents
Page
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T Smith Limited Company Information for the year ended 28 February 2023
Directors
Mr T M Smith Mrs E L Smith
Company Number
07931202 (England and Wales)
Registered Office
Meadow View West Hoe Lane Bishops Waltham Hampshire SO32 1DT
Accountants
Meon Valley Accounting Ltd Malt House Studios 4 Brook Street Bishops Waltham Hampshire SO32 1AX
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T Smith Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
26,185 
25,489 
Current assets
Debtors
22,929 
23,965 
Cash at bank and in hand
248,805 
190,385 
271,734 
214,350 
Creditors: amounts falling due within one year
(42,298)
(57,810)
Net current assets
229,436 
156,540 
Total assets less current liabilities
255,621 
182,029 
Provisions for liabilities
Deferred tax
(4,050)
(3,859)
Net assets
251,571 
178,170 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
251,471 
178,070 
Shareholders' funds
251,571 
178,170 
For the year ending 28 February 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 November 2023 and were signed on its behalf by
Mr T M Smith Director Company Registration No. 07931202
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T Smith Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
T Smith Limited is a private company, limited by shares, registered in England and Wales, registration number 07931202. The registered office is Meadow View, West Hoe Lane, Bishops Waltham, Hampshire, SO32 1DT.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
Land & buildings
10% reducing balance
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
15% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Goodwill is estimated to have a useful life of 10 years.
Government grants
Grants are accounted for under the accruals model as permitted by FRS102. Grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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T Smith Limited Notes to the Accounts for the year ended 28 February 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2022
80,000 
At 28 February 2023
80,000 
Amortisation
At 1 March 2022
80,000 
At 28 February 2023
80,000 
Net book value
At 28 February 2023
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 March 2022
5,600 
1,579 
68,918 
4,862 
1,625 
82,584 
Additions
- 
4,201 
- 
- 
2,857 
7,058 
At 28 February 2023
5,600 
5,780 
68,918 
4,862 
4,482 
89,642 
Depreciation
At 1 March 2022
560 
667 
51,603 
3,516 
749 
57,095 
Charge for the year
504 
767 
4,329 
202 
560 
6,362 
At 28 February 2023
1,064 
1,434 
55,932 
3,718 
1,309 
63,457 
Net book value
At 28 February 2023
4,536 
4,346 
12,986 
1,144 
3,173 
26,185 
At 28 February 2022
5,040 
912 
17,315 
1,346 
876 
25,489 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
19,171 
21,118 
Accrued income and prepayments
1,875 
1,847 
Other debtors
1,883 
1,000 
22,929 
23,965 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
13,372 
13,214 
Taxes and social security
22,599 
23,512 
Other creditors
- 
253 
Loans from directors
5,552 
20,081 
Accruals
775 
750 
42,298 
57,810 
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T Smith Limited Notes to the Accounts for the year ended 28 February 2023
8
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
4,050 
3,859 
2023 
2022 
£ 
£ 
Provision at start of year
3,859 
4,025 
Charged/(credited) to the profit and loss account
191 
(166)
Provision at end of year
4,050 
3,859 
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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