Silverfin false 31/03/2023 01/04/2022 31/03/2023 K Davis 01/10/2018 N Pusterla 01/05/2022 E Shackleton 01/05/2022 Dr S Stuart Smith 18/10/2006 T Stuart-Smith 18/10/2006 T Stuart-Smith 15 March 2024 The principal activity of the Company during the financial year continued to be that of landscape design. 05971580 2023-03-31 05971580 bus:Director1 2023-03-31 05971580 bus:Director2 2023-03-31 05971580 bus:Director3 2023-03-31 05971580 bus:Director4 2023-03-31 05971580 bus:Director5 2023-03-31 05971580 2022-03-31 05971580 core:CurrentFinancialInstruments 2023-03-31 05971580 core:CurrentFinancialInstruments 2022-03-31 05971580 core:Non-currentFinancialInstruments 2023-03-31 05971580 core:Non-currentFinancialInstruments 2022-03-31 05971580 core:ShareCapital 2023-03-31 05971580 core:ShareCapital 2022-03-31 05971580 core:RetainedEarningsAccumulatedLosses 2023-03-31 05971580 core:RetainedEarningsAccumulatedLosses 2022-03-31 05971580 core:Goodwill 2022-03-31 05971580 core:Goodwill 2023-03-31 05971580 core:LandBuildings 2022-03-31 05971580 core:OtherPropertyPlantEquipment 2022-03-31 05971580 core:LandBuildings 2023-03-31 05971580 core:OtherPropertyPlantEquipment 2023-03-31 05971580 bus:OrdinaryShareClass1 2023-03-31 05971580 bus:OrdinaryShareClass2 2023-03-31 05971580 2022-04-01 2023-03-31 05971580 bus:FullAccounts 2022-04-01 2023-03-31 05971580 bus:SmallEntities 2022-04-01 2023-03-31 05971580 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05971580 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05971580 bus:Director1 2022-04-01 2023-03-31 05971580 bus:Director2 2022-04-01 2023-03-31 05971580 bus:Director3 2022-04-01 2023-03-31 05971580 bus:Director4 2022-04-01 2023-03-31 05971580 bus:Director5 2022-04-01 2023-03-31 05971580 bus:Director6 2022-04-01 2023-03-31 05971580 core:Goodwill core:TopRangeValue 2022-04-01 2023-03-31 05971580 core:Goodwill 2022-04-01 2023-03-31 05971580 core:OtherResidualIntangibleAssets 2022-04-01 2023-03-31 05971580 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 05971580 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 05971580 2021-04-01 2022-03-31 05971580 core:LandBuildings 2022-04-01 2023-03-31 05971580 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 05971580 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 05971580 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 05971580 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 05971580 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05971580 (England and Wales)

TOM STUART-SMITH LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

TOM STUART-SMITH LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

TOM STUART-SMITH LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
TOM STUART-SMITH LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 50,000
Tangible assets 4 795,280 634,584
795,280 684,584
Current assets
Debtors 5 1,185,532 850,373
Cash at bank and in hand 159,954 287,713
1,345,486 1,138,086
Creditors: amounts falling due within one year 6 ( 481,250) ( 379,818)
Net current assets 864,236 758,268
Total assets less current liabilities 1,659,516 1,442,852
Creditors: amounts falling due after more than one year 7 ( 122,718) ( 187,638)
Net assets 1,536,798 1,255,214
Capital and reserves
Called-up share capital 8 110 110
Profit and loss account 1,536,688 1,255,104
Total shareholders' funds 1,536,798 1,255,214

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Tom Stuart-Smith Limited (registered number: 05971580) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

T Stuart-Smith
Director

15 March 2024

TOM STUART-SMITH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
TOM STUART-SMITH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tom Stuart-Smith Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Dairy Studio Sergehill Lane, Bedmond, Abbots Langley, WD5 0RZ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery etc. 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 21 19

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2022 500,000 500,000
At 31 March 2023 500,000 500,000
Accumulated amortisation
At 01 April 2022 450,000 450,000
Charge for the financial year 50,000 50,000
At 31 March 2023 500,000 500,000
Net book value
At 31 March 2023 0 0
At 31 March 2022 50,000 50,000

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2022 620,222 254,982 875,204
Additions 164,355 11,201 175,556
At 31 March 2023 784,577 266,183 1,050,760
Accumulated depreciation
At 01 April 2022 59,350 181,270 240,620
Charge for the financial year 5,202 9,658 14,860
At 31 March 2023 64,552 190,928 255,480
Net book value
At 31 March 2023 720,025 75,255 795,280
At 31 March 2022 560,872 73,712 634,584

5. Debtors

2023 2022
£ £
Trade debtors 301,786 190,576
Corporation tax 87,307 41,811
Other debtors 796,439 617,986
1,185,532 850,373

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 69,088 62,362
Trade creditors 65,345 60,009
Taxation and social security 154,640 91,794
Other creditors 192,177 165,653
481,250 379,818

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 122,718 187,638

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
10 Ordinary A shares of £ 1.00 each 10 10
110 110