IRIS Accounts Production v23.1.0.753 10434793 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure104347932022-03-31104347932023-03-31104347932022-04-012023-03-31104347932021-03-31104347932021-04-012022-03-31104347932022-03-3110434793ns15:EnglandWales2022-04-012023-03-3110434793ns14:PoundSterling2022-04-012023-03-3110434793ns10:Director12022-04-012023-03-3110434793ns10:Director22022-04-012023-03-3110434793ns10:PrivateLimitedCompanyLtd2022-04-012023-03-3110434793ns10:SmallEntities2022-04-012023-03-3110434793ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3110434793ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3110434793ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-3110434793ns10:AbridgedAccounts2022-04-012023-03-311043479312022-04-012023-03-3110434793ns5:CurrentFinancialInstruments2023-03-3110434793ns5:CurrentFinancialInstruments2022-03-3110434793ns5:Non-currentFinancialInstruments2023-03-3110434793ns5:Non-currentFinancialInstruments2022-03-3110434793ns5:ShareCapital2023-03-3110434793ns5:ShareCapital2022-03-3110434793ns5:RetainedEarningsAccumulatedLosses2023-03-3110434793ns5:RetainedEarningsAccumulatedLosses2022-03-3110434793ns10:RegisteredOffice2022-04-012023-03-3110434793ns5:NetGoodwill2022-04-012023-03-3110434793ns5:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3110434793ns5:PlantMachinery2022-04-012023-03-3110434793ns5:MotorVehicles2022-04-012023-03-31
REGISTERED NUMBER: 10434793 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

I.R. Smyth And Son Limited

I.R. Smyth And Son Limited (Registered number: 10434793)






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




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


I.R. Smyth And Son Limited (Registered number: 10434793)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 80,335 124,153
80,335 124,153

CURRENT ASSETS
Stocks 2,295 2,465
Debtors 83,348 104,398
Cash at bank 111,569 60,512
197,212 167,375
CREDITORS
Amounts falling due within one year 92,318 68,212
NET CURRENT ASSETS 104,894 99,163
TOTAL ASSETS LESS CURRENT
LIABILITIES

185,229

223,316

CREDITORS
Amounts falling due after more than one
year

(515

)

(68,423

)

PROVISIONS FOR LIABILITIES (15,264 ) (23,589 )
NET ASSETS 169,450 131,304

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 169,250 131,104
SHAREHOLDERS' FUNDS 169,450 131,304

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 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.

I.R. Smyth And Son Limited (Registered number: 10434793)

Abridged 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 December 2023 and were signed on its behalf by:




Mr M A Smyth - Director



Mrs K J Smyth - Director


I.R. Smyth And Son Limited (Registered number: 10434793)

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

1. STATUTORY INFORMATION

I.R. Smyth And Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10434793

Registered office: Upper Hirst Farm
Hirst Common Lane
Sheffield
South Yorkshire
S6 1EX

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 2016, is being amortised evenly over its estimated useful life of five 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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% 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 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.


I.R. Smyth And Son Limited (Registered number: 10434793)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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
Totals
£   
COST
At 1 April 2022
and 31 March 2023 20,000
AMORTISATION
At 1 April 2022
and 31 March 2023 20,000
NET BOOK VALUE

At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 245,398
Disposals (73,000 )
At 31 March 2023 172,398
DEPRECIATION
At 1 April 2022 121,245
Charge for year 19,897
Eliminated on disposal (49,079 )
At 31 March 2023 92,063
NET BOOK VALUE
At 31 March 2023 80,335
At 31 March 2022 124,153