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
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
T Smith Limited
Statement of financial position
as at 28 February 2023
Tangible assets
26,185
25,489
Cash at bank and in hand
248,805
190,385
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
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
T Smith Limited
Notes to the Accounts
for the year ended 28 February 2023
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.
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.
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 (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.
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.
T Smith Limited
Notes to the Accounts
for the year ended 28 February 2023
4
Intangible fixed assets
Goodwill
At 28 February 2023
80,000
At 28 February 2023
80,000
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
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
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
Amounts falling due within one year
Trade debtors
19,171
21,118
Accrued income and prepayments
1,875
1,847
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
22,599
23,512
Loans from directors
5,552
20,081
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
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).