IRIS Accounts Production v23.3.1.45 04762377 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047623772022-05-31047623772023-05-31047623772022-06-012023-05-31047623772021-05-31047623772021-06-012022-05-31047623772022-05-3104762377ns10:Originalns15:EnglandWales2022-06-012023-05-3104762377ns14:PoundSterlingns10:Original2022-06-012023-05-3104762377ns10:Originalns10:Director12022-06-012023-05-3104762377ns10:Original2022-06-012023-05-3104762377ns10:Original2023-05-3104762377ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3104762377ns10:Originalns10:SmallEntities2022-06-012023-05-3104762377ns10:Originalns10:AuditExemptWithAccountantsReport2022-06-012023-05-3104762377ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3104762377ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3104762377ns10:Originalns10:FullAccounts2022-06-012023-05-3104762377ns10:Original12022-06-012023-05-3104762377ns10:Originalns10:Director22022-06-012023-05-3104762377ns10:CompanySecretary1ns10:Original2022-06-012023-05-3104762377ns10:Originalns10:RegisteredOffice2022-06-012023-05-3104762377ns10:Original2022-05-3104762377ns10:Originalns5:CurrentFinancialInstruments2023-05-3104762377ns10:Originalns5:CurrentFinancialInstruments2022-05-3104762377ns10:Originalns5:Non-currentFinancialInstruments2023-05-3104762377ns10:Originalns5:Non-currentFinancialInstruments2022-05-3104762377ns5:ShareCapitalns10:Original2023-05-3104762377ns5:ShareCapitalns10:Original2022-05-3104762377ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3104762377ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3104762377ns10:Originalns5:NetGoodwill2022-06-012023-05-3104762377ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-012023-05-3104762377ns10:Originalns5:FurnitureFittings2022-06-012023-05-3104762377ns10:Originalns5:MotorVehicles2022-06-012023-05-3104762377ns10:Originalns5:ComputerEquipment2022-06-012023-05-3104762377ns10:Original2021-06-012022-05-3104762377ns10:Originalns5:NetGoodwill2022-05-3104762377ns10:Originalns5:NetGoodwill2023-05-3104762377ns10:Originalns5:NetGoodwill2022-05-3104762377ns10:Originalns5:FurnitureFittings2022-05-3104762377ns10:Originalns5:MotorVehicles2022-05-3104762377ns10:Originalns5:ComputerEquipment2022-05-3104762377ns10:Original2022-05-3104762377ns10:Originalns5:FurnitureFittings2023-05-3104762377ns10:Originalns5:MotorVehicles2023-05-3104762377ns10:Originalns5:ComputerEquipment2023-05-3104762377ns10:Originalns5:FurnitureFittings2022-05-3104762377ns10:Originalns5:MotorVehicles2022-05-3104762377ns10:Originalns5:ComputerEquipment2022-05-3104762377ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3104762377ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-31
REGISTERED NUMBER: 04762377 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 May 2023

for

ANDY SMITH LTD

ANDY SMITH LTD (REGISTERED NUMBER: 04762377)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

ANDY SMITH LTD

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mrs M D Smith
A Smith





SECRETARY: Mrs M D Smith





REGISTERED OFFICE: Wheelock House
Cinderhill Lane
Scholars Green
ST7 3HX





REGISTERED NUMBER: 04762377 (England and Wales)





ACCOUNTANTS: CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW

ANDY SMITH LTD (REGISTERED NUMBER: 04762377)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,432 1,703
1,432 1,703

CURRENT ASSETS
Stocks 26,000 25,500
Debtors 6 563 317
26,563 25,817
CREDITORS
Amounts falling due within one year 7 27,473 37,245
NET CURRENT LIABILITIES (910 ) (11,428 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

522

(9,725

)

CREDITORS
Amounts falling due after more than one year 8 35,823 17,461
NET LIABILITIES (35,301 ) (27,186 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (35,401 ) (27,286 )
SHAREHOLDERS' FUNDS (35,301 ) (27,186 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





A Smith - Director


ANDY SMITH LTD (REGISTERED NUMBER: 04762377)

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


1. STATUTORY INFORMATION

Andy Smith 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.

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.

The directors have agreed to financially support the Company for the next 12 months and the accounts have therefore been prepared on a going concern basis.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for the assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.

Stock Provision
The directors review stock held at the balance sheet date to ensure that only those goods deemed fit for future sales are included.

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 0, is being amortised evenly over its estimated useful life of nil 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.
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


ANDY SMITH LTD (REGISTERED NUMBER: 04762377)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 7,500
AMORTISATION
At 1 June 2022
and 31 May 2023 7,500
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022
and 31 May 2023 2,958 22,635 2,509 28,102
DEPRECIATION
At 1 June 2022 2,123 22,635 1,641 26,399
Charge for year 83 - 188 271
At 31 May 2023 2,206 22,635 1,829 26,670
NET BOOK VALUE
At 31 May 2023 752 - 680 1,432
At 31 May 2022 835 - 868 1,703

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 563 317

ANDY SMITH LTD (REGISTERED NUMBER: 04762377)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 23,338 21,659
Trade creditors 2,621 4,662
Taxation and social security (309 ) 665
Other creditors 1,823 10,259
27,473 37,245

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans 35,823 17,461

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A Smith who owns 100% of the issued share capital.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Andy Smith 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Andy Smith Ltd for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Andy Smith Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Andy Smith Ltd and state those matters that we have agreed to state to the Board of Directors of Andy Smith Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andy Smith Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Andy Smith Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Andy Smith Ltd. You consider that Andy Smith Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Andy Smith Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW


12 February 2024