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REGISTERED NUMBER: 03075985 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Smiffy's Ltd

Smiffy's Ltd (Registered number: 03075985)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 9

Smiffy's Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mrs S A Smith
J W Smith





SECRETARY: Mrs S A Smith





REGISTERED OFFICE: 3 Enterprise House
8 Essex Road
Dartford
Kent
DA1 2AU





REGISTERED NUMBER: 03075985 (England and Wales)





ACCOUNTANTS: SADLER FOGARTY SERVICES LTD
T/AS Sadler Davies & Co
Chartered Accountants
3 Enterprise House
8 Essex Road
Dartford
Kent
DA1 2AU

Smiffy's Ltd (Registered number: 03075985)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 55,671 61,246
55,671 61,246

CURRENT ASSETS
Debtors 6 9,521 11,670
Cash at bank and in hand 39,409 50,416
48,930 62,086
CREDITORS
Amounts falling due within one year 7 67,983 78,054
NET CURRENT LIABILITIES (19,053 ) (15,968 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,618

45,278

CREDITORS
Amounts falling due after more than
one year

8

(23,056

)

(33,352

)

PROVISIONS FOR LIABILITIES 10 (10,574 ) (11,632 )
NET ASSETS 2,988 294

Smiffy's Ltd (Registered number: 03075985)

Balance Sheet - continued
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 120 120
Retained earnings 12 2,868 174
SHAREHOLDERS' FUNDS 2,988 294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2024 and were signed on its behalf by:





J W Smith - Director


Smiffy's Ltd (Registered number: 03075985)

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

1. STATUTORY INFORMATION

Smiffy's Ltd 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of one years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Smiffy's Ltd (Registered number: 03075985)

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

2. ACCOUNTING POLICIES - continued
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 NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 1
AMORTISATION
At 1 September 2022
and 31 August 2023 1
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

Smiffy's Ltd (Registered number: 03075985)

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

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 53,777 55,250 4,200 37,821 151,048
Additions - - - 2,100 2,100
At 31 August 2023 53,777 55,250 4,200 39,921 153,148
DEPRECIATION
At 1 September 2022 16,833 33,150 4,092 35,727 89,802
Charge for year 1,075 5,525 27 1,048 7,675
At 31 August 2023 17,908 38,675 4,119 36,775 97,477
NET BOOK VALUE
At 31 August 2023 35,869 16,575 81 3,146 55,671
At 31 August 2022 36,944 22,100 108 2,094 61,246

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.8.23 31.8.22
£    £   
Other debtors 9,521 11,670

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts 6,703 6,704
Taxation and social security 3,567 10,295
Other creditors 57,713 61,055
67,983 78,054

Smiffy's Ltd (Registered number: 03075985)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts 16,761 23,460
Other creditors 6,295 9,892
23,056 33,352

9. LOANS

An analysis of the maturity of loans is given below:

31.8.23 31.8.22
£    £   
Amounts falling due within one year or on demand:
Loan 3,597 3,597

Amounts falling due between one and two years:
Other loans - 1-2 years 6,295 9,892

10. PROVISIONS FOR LIABILITIES
31.8.23 31.8.22
£    £   
Deferred tax
Accelerated capital allowances 10,574 11,632

Deferred
tax
£   
Balance at 1 September 2022 11,632
Credit to Statement of Income and Retained Earnings during
year

(1,058

)
Balance at 31 August 2023 10,574

Smiffy's Ltd (Registered number: 03075985)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
50 A ORDINARY £1 50 50
50 B ORDINARY £1 50 50
10 C ORDINARY £1 10 10
10 D ORDINARY £1 10 10
120 120

12. RESERVES
Retained
earnings
£   

At 1 September 2022 174
Profit for the year 10,694
Dividends (8,000 )
At 31 August 2023 2,868

Smiffy's Ltd

Report of the Accountants to the Directors of
Smiffy's Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2023 set out on pages three to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






SADLER FOGARTY SERVICES LTD
T/AS Sadler Davies & Co
Chartered Accountants
3 Enterprise House
8 Essex Road
Dartford
Kent
DA1 2AU


5 February 2024