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REGISTERED NUMBER: 13390209 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Smith and Boothe Electrical Ltd

Smith and Boothe Electrical Ltd (Registered number: 13390209)






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


Smith and Boothe Electrical Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: M P Smith
T G Boothe





REGISTERED OFFICE: Middle Farm Cottage
Rotten Row
Theddlethorpe
Mablethorpe
Lincolnshire
LN12 1NX





REGISTERED NUMBER: 13390209 (England and Wales)

Smith and Boothe Electrical Ltd (Registered number: 13390209)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,374 15,289

CURRENT ASSETS
Stocks 13,000 9,000
Debtors 5 4,005 10,224
Cash at bank 4,995 19,026
22,000 38,250
CREDITORS
Amounts falling due within one year 6 32,928 49,767
NET CURRENT LIABILITIES (10,928 ) (11,517 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,446

3,772

CREDITORS
Amounts falling due after more than one
year

7

(12,315

)

-

PROVISIONS FOR LIABILITIES (5,581 ) (2,905 )
NET ASSETS 550 867

CAPITAL AND RESERVES
Called up share capital 202 202
Retained earnings 348 665
SHAREHOLDERS' FUNDS 550 867

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 26 February 2024 and were signed on its behalf by:





T G Boothe - Director


Smith and Boothe Electrical Ltd (Registered number: 13390209)

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

1. STATUTORY INFORMATION

Smith and Boothe Electrical 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Smith and Boothe Electrical Ltd (Registered number: 13390209)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 2,893 16,000 - 18,893
Additions - 21,895 749 22,644
At 31 May 2023 2,893 37,895 749 41,537
DEPRECIATION
At 1 June 2022 271 3,333 - 3,604
Charge for year 656 7,728 175 8,559
At 31 May 2023 927 11,061 175 12,163
NET BOOK VALUE
At 31 May 2023 1,966 26,834 574 29,374
At 31 May 2022 2,622 12,667 - 15,289

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 21,895
At 31 May 2023 21,895
DEPRECIATION
Charge for year 4,561
At 31 May 2023 4,561
NET BOOK VALUE
At 31 May 2023 17,334

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 2,813 9,478
Other debtors 1,192 746
4,005 10,224

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 5,474 -
Trade creditors 4,696 11,310
Taxation and social security 17,869 16,048
Other creditors 4,889 22,409
32,928 49,767

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 12,315 -