IRIS Accounts Production v23.2.0.158 05077608 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050776082022-03-31050776082023-03-31050776082022-04-012023-03-31050776082021-03-31050776082021-04-012022-03-31050776082022-03-3105077608ns10:Originalns15:EnglandWales2022-04-012023-03-3105077608ns14:PoundSterlingns10:Original2022-04-012023-03-3105077608ns10:Originalns10:Director12022-04-012023-03-3105077608ns10:Original2022-04-012023-03-3105077608ns10:Original2023-03-3105077608ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3105077608ns10:Originalns10:SmallEntities2022-04-012023-03-3105077608ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3105077608ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3105077608ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3105077608ns10:Originalns10:AbridgedAccounts2022-04-012023-03-3105077608ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3105077608ns10:Originalns10:Director22022-04-012023-03-3105077608ns10:CompanySecretary1ns10:Original2022-04-012023-03-3105077608ns10:Originalns10:RegisteredOffice2022-04-012023-03-3105077608ns10:Original2022-03-3105077608ns10:Originalns5:CurrentFinancialInstruments2023-03-3105077608ns10:Originalns5:CurrentFinancialInstruments2022-03-3105077608ns10:Originalns5:Non-currentFinancialInstruments2023-03-3105077608ns10:Originalns5:Non-currentFinancialInstruments2022-03-3105077608ns5:ShareCapitalns10:Original2023-03-3105077608ns5:ShareCapitalns10:Original2022-03-3105077608ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3105077608ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3105077608ns10:Originalns5:PlantMachinery2022-04-012023-03-3105077608ns10:Original2021-04-012022-03-3105077608ns10:Original2022-03-3105077608ns10:Originalns10:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 05077608 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

DVL Smith Limited

DVL Smith Limited (Registered number: 05077608)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


DVL Smith Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Dr D V L Smith
Mrs J M Smith





SECRETARY: Mrs J M Smith





REGISTERED OFFICE: 106 Charter Avenue
Ilford
Essex
IG2 7AD





REGISTERED NUMBER: 05077608 (England and Wales)





ACCOUNTANTS: Fredericks Limited
Chartered Accountants
106 Charter Avenue
Ilford
Essex
IG2 7AD

DVL Smith Limited (Registered number: 05077608)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 1

CURRENT ASSETS
Stocks - 9,550
Debtors 1,841 21,559
Cash at bank 52,774 30,062
54,615 61,171
CREDITORS
Amounts falling due within one year 31,504 30,471
NET CURRENT ASSETS 23,111 30,700
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,112

30,701

CREDITORS
Amounts falling due after more than one
year

21,450

29,250
NET ASSETS 1,662 1,451

CAPITAL AND RESERVES
Called up share capital 5 2 2
Retained earnings 1,660 1,449
SHAREHOLDERS' FUNDS 1,662 1,451

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 directors acknowledge their 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.

DVL Smith Limited (Registered number: 05077608)

Abridged Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:





Dr D V L Smith - Director


DVL Smith Limited (Registered number: 05077608)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

DVL Smith Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors,including expectations of future events that are believed to be reasonable under the circumstances.

a) Critical judgements in applying the entities accounting policies:

There are no specific judgements apart from those involving estimates as detailed below that management has made in the process of applying the entities accounting policies that have a significant effect on the amounts recognised in the financial statements.

b) Critical accounting estimates and assumptions:

The company makes estimates and assumptions concerning the future. The resulting accounting estimates can differ from the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next financial year are addressed below:

(i) Useful economic lives of tangible assets.

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful lives and residual values of the assets These are re-assessed annualy.They are amended when necessary to reflect any estimated changes.

(ii) Impairment of debtors

The company makes an estimate of the recoverable amount of trade and other debtors. When assessing their impairment, the management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

DVL Smith Limited (Registered number: 05077608)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 947
DEPRECIATION
At 1 April 2022
and 31 March 2023 946
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 1

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2 Ordinary £1.00 2 2

6. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2022 - £4,000) were paid to the directors .

At the year end Dr DVL Smith was owed the sum of £18,234
(2022 : £13,080) in respect of an interest free loan to the company.

DVL Smith Limited (Registered number: 05077608)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. ULTIMATE CONTROLLING PARTY

In the opinion of the directors they are the controlling party.