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REGISTERED NUMBER: 02553945 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

P & L T SMITH LIMITED

P & L T SMITH LIMITED (REGISTERED NUMBER: 02553945)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P & L T SMITH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: P Smith
Mrs L T Smith
Miss L T Smith
G P Smith





SECRETARY: Mrs L T Smith





REGISTERED OFFICE: 166 High Street
Dosthill
Tamworth
Staffordshire
B77 1LR





REGISTERED NUMBER: 02553945 (England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

P & L T SMITH LIMITED (REGISTERED NUMBER: 02553945)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,268 20,629
Investments 5 1,597,289 1,536,623
Investment property 6 1,550,000 1,550,000
3,165,557 3,107,252

CURRENT ASSETS
Debtors 7 85,868 167,703
Cash at bank 194,665 120,543
280,533 288,246
CREDITORS
Amounts falling due within one year 8 48,342 66,716
NET CURRENT ASSETS 232,191 221,530
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,397,748

3,328,782

PROVISIONS FOR LIABILITIES 40,200 33,500
NET ASSETS 3,357,548 3,295,282

CAPITAL AND RESERVES
Called up share capital 9 120 120
Revaluation reserve 10 140,552 140,552
Retained earnings 3,216,876 3,154,610
SHAREHOLDERS' FUNDS 3,357,548 3,295,282

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

P & L T SMITH LIMITED (REGISTERED NUMBER: 02553945)

BALANCE SHEET - continued
30 JUNE 2023


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by:





P Smith - Director


P & L T SMITH LIMITED (REGISTERED NUMBER: 02553945)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

P & L T Smith Limited 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 as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

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.
Freehold property - 15% on cost
Fixtures and fittings - 15% - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Fixed asset investments
Investments are included at fair value. Changes in fair value are recognised in the profit and loss account. Deferred taxation is provided on gains at the rate expected to apply when the investment is sold.

Fair value changes in respect of readily marketable securities are treated as distributable reserves.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

P & L T SMITH LIMITED (REGISTERED NUMBER: 02553945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

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

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2022 3,532 11,963 36,921 52,416
Additions - 3,128 - 3,128
At 30 June 2023 3,532 15,091 36,921 55,544
DEPRECIATION
At 1 July 2022 3,532 11,246 17,009 31,787
Charge for year - 511 4,978 5,489
At 30 June 2023 3,532 11,757 21,987 37,276
NET BOOK VALUE
At 30 June 2023 - 3,334 14,934 18,268
At 30 June 2022 - 717 19,912 20,629

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 July 2022 1,536,623
Additions 679,446
Disposals (630,855 )
Changes to fair value 12,075
At 30 June 2023 1,597,289
NET BOOK VALUE
At 30 June 2023 1,597,289
At 30 June 2022 1,536,623


P & L T SMITH LIMITED (REGISTERED NUMBER: 02553945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,550,000
NET BOOK VALUE
At 30 June 2023 1,550,000
At 30 June 2022 1,550,000


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,875 6,825
Other debtors 80,993 160,878
85,868 167,703

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,929 -
Taxation and social security 15,145 37,099
Other creditors 31,268 29,617
48,342 66,716

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
20 Ordinary B £1 20 20
120 120

10. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 140,552

Retained earnings include non-distributable reserves of £459,750 (2022 - £459,750).

11. RELATED PARTY DISCLOSURES

Other creditors includes an amount due to directors of £2,100 (2022 - £406).