Company registration number:
05161259
Smithcem K'5 Limited
Trading as
Smithcem K'5 Limited
Unaudited filleted financial statements
31 December 2022
Smithcem K'5 Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Smithcem K'5 Limited
Directors and other information
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Directors |
Mr Kenneth Smith |
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Mr Chesney Smith |
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Mr Timothy Phipps |
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Mr Jason Phipps |
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Miss Bonnie Smith |
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Secretary |
Kenneth Smith |
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Company number |
05161259 |
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Registered office |
95 Boston Road |
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Sleaford |
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Lincolnshire |
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NG34 7HP |
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Smithcem K'5 Limited
Statement of financial position
31 December 2022
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2022 |
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2021 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
322,298 |
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219,928 |
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_______ |
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_______ |
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322,298 |
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219,928 |
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Current assets |
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Stocks |
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300 |
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300 |
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Debtors |
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6 |
115 |
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115 |
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Cash at bank and in hand |
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16,998 |
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12,329 |
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_______ |
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_______ |
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17,413 |
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12,744 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
238,049) |
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(
132,869) |
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_______ |
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_______ |
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Net current liabilities |
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(
220,636) |
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(
120,125) |
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_______ |
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_______ |
Total assets less current liabilities |
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101,662 |
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99,803 |
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_______ |
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_______ |
Net assets |
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101,662 |
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99,803 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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100 |
Profit and loss account |
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101,562 |
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99,703 |
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_______ |
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_______ |
Shareholder funds |
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101,662 |
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99,803 |
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_______ |
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_______ |
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For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors
and authorised for issue on
09 November 2023
, and are signed on behalf of the board by:
Mr Kenneth Smith
Director
Company registration number:
05161259
Smithcem K'5 Limited
Notes to the financial statements
Year ended 31 December 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 95 Boston Road, Sleaford, Lincolnshire, NG34 7HP.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents amounts chargeable by the company for goods and services provided during the year.
Taxation
The charge for taxation is based on the profit or loss for the year.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery |
- |
15 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
The company only holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets-trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepaymenst are not financial instruments. Cash at bank is classifies as a basic financial instrument and is measured at amortised cost. Financial liabilities-trade creditors, accruals and othercreditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2021:
1
).
5.
Tangible assets
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Freehold property |
Plant and machinery |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 January 2022 |
214,734 |
6,400 |
221,134 |
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Additions |
107,484 |
- |
107,484 |
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Disposals |
- |
(
6,000) |
(
6,000) |
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_______ |
_______ |
_______ |
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At 31 December 2022 |
322,218 |
400 |
322,618 |
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_______ |
_______ |
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Depreciation |
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At 1 January 2022 |
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1,206 |
1,206 |
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Charge for the year |
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14 |
14 |
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Disposals |
- |
(
900) |
(
900) |
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_______ |
_______ |
_______ |
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At 31 December 2022 |
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320 |
320 |
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_______ |
_______ |
_______ |
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Carrying amount |
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At 31 December 2022 |
322,218 |
80 |
322,298 |
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_______ |
_______ |
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At 31 December 2021 |
214,734 |
5,194 |
219,928 |
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_______ |
_______ |
_______ |
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6.
Debtors
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2022 |
2021 |
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£ |
£ |
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Other debtors |
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115 |
115 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
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2022 |
2021 |
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£ |
£ |
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Trade creditors |
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593 |
593 |
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Corporation tax |
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481 |
76 |
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Other creditors |
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236,975 |
132,200 |
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_______ |
_______ |
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238,049 |
132,869 |
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_______ |
_______ |
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8.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2022 |
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Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
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£ |
£ |
£ |
£ |
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Mr Kenneth Smith |
(
132,200) |
(
106,400) |
1,625 |
(
236,975) |
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_______ |
_______ |
_______ |
_______ |
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2021 |
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Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
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£ |
£ |
£ |
£ |
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Mr Kenneth Smith |
(
69,959) |
(
63,400) |
1,159 |
(
132,200) |
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_______ |
_______ |
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9.
Controlling party
During the year the director
Kenneth Smith
controlled the company by virtue of a controlling interest of 100% of the issued share capital.