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REGISTERED NUMBER: 00730123 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

F.E. SMITH (BUILDERS) LIMITED

F.E. SMITH (BUILDERS) LIMITED (REGISTERED NUMBER: 00730123)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F.E. SMITH (BUILDERS) LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2023







DIRECTOR: R I Dudding





SECRETARY: J C Ancell





REGISTERED OFFICE: Lonsto House
276 Chase Road
London
N14 6HA





REGISTERED NUMBER: 00730123 (England and Wales)





ACCOUNTANTS: SRG Newmans Limited
Five Ways
57-59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS

F.E. SMITH (BUILDERS) LIMITED (REGISTERED NUMBER: 00730123)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 536,250 536,250

CURRENT ASSETS
Debtors 5 185,302 165,017

CREDITORS
Amounts falling due within one year 6 20,163 19,661
NET CURRENT ASSETS 165,139 145,356
TOTAL ASSETS LESS CURRENT
LIABILITIES

701,389

681,606

PROVISIONS FOR LIABILITIES 99,605 99,605
NET ASSETS 601,784 582,001

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 600,784 581,001
SHAREHOLDERS' FUNDS 601,784 582,001

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.

F.E. SMITH (BUILDERS) LIMITED (REGISTERED NUMBER: 00730123)

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.

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 14 November 2023 and were signed by:





R I Dudding - Director


F.E. SMITH (BUILDERS) LIMITED (REGISTERED NUMBER: 00730123)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

F.E. Smith (Builders) 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.

2. ACCOUNTING POLICIES

Basis of preparation of 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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises revenue recognised by the company in respect of rents received during the year.

Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the income statement. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the income statement.

F.E. SMITH (BUILDERS) LIMITED (REGISTERED NUMBER: 00730123)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Going concern
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 536,250
NET BOOK VALUE
At 31 March 2023 536,250
At 31 March 2022 536,250

The 2023 valuations were made by R I Dudding, a director of the company, on an open market value for existing use basis.

Mr R I Dudding is qualified to make the valuation on the basis of his knowledge and experience of the residential and commercial property market.

The historical cost of freehold land and buildings is £9,384 (2022: £9,384).

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2016 240,616
Valuation in 2017 19,049
Valuation in 2020 267,201
Cost 9,384
536,250

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,405 5,373
Amounts owed by group undertakings 179,897 159,644
185,302 165,017

F.E. SMITH (BUILDERS) LIMITED (REGISTERED NUMBER: 00730123)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 4,640 4,561
Other creditors 15,523 15,100
20,163 19,661

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the Trustees of Dudding Property Settlement Trust by virtue of its controlling shareholding in the company.

8. RETAINED EARNINGS

Included in retained earnings is £427,261 (2022: £427,261) of profits that are not available for distribution as they are unrealised.