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REGISTERED NUMBER: 00128572 (England and Wales)











WM GREENSMITH & SON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024






WM GREENSMITH & SON LIMITED (REGISTERED NUMBER: 00128572)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


WM GREENSMITH & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTORS: Mr E P Jackson
Mrs W J H Jackson





SECRETARY: Mrs W J H Jackson





REGISTERED OFFICE: Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW





REGISTERED NUMBER: 00128572 (England and Wales)





ACCOUNTANTS: UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
YO19 5UW

WM GREENSMITH & SON LIMITED (REGISTERED NUMBER: 00128572)

BALANCE SHEET
28 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 712,500 712,500

CURRENT ASSETS
Debtors 5 1,117 788
Cash at bank 89,120 109,999
90,237 110,787
CREDITORS
Amounts falling due within one year 6 25,061 20,835
NET CURRENT ASSETS 65,176 89,952
TOTAL ASSETS LESS CURRENT LIABILITIES 777,676 802,452

CAPITAL AND RESERVES
Called up share capital 9,000 9,000
Retained earnings (non-distributable) 718,540 718,540
Retained earnings 50,136 74,912
SHAREHOLDERS' FUNDS 777,676 802,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:



Mr E P Jackson - Director


WM GREENSMITH & SON LIMITED (REGISTERED NUMBER: 00128572)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024


1. STATUTORY INFORMATION

WM Greensmith & Son 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.

Turnover
Turnover comprises the rental income in respect of the investment property.

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially recognised at cost, including transaction costs.

Subsequently, investment properties are measured at fair value. Investment property valuations are based on an open market value. Deferred tax is provided on these movements where applicable. Gains and losses arising from changes in the fair value of investment properties are included in the Profit and Loss Account and retained earnings in the period in which they arise.

Aggregate retained earnings on the revaluation of investment properties are non-distributable.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

WM GREENSMITH & SON LIMITED (REGISTERED NUMBER: 00128572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 28 February 2024 712,500
NET BOOK VALUE
At 28 February 2024 712,500
At 28 February 2023 712,500

Fair value at 28 February 2024 is represented by:
£   
Valuation in 2004 1,174,418
Valuation in 2008 980,000
Valuation in 2014 (290,000 )
Valuation in 2022 (1,177,500 )
Cost 25,582
712,500

The investment property was valued on an open market basis on 5 April 2022 by Brackenridge Hanson Tate Ltd .

The carrying value of the investment property is subject to an annual review by the directors as at the balance sheet date, and adjusted, if necessary, in line with current fair values.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 788
Other debtors 1,117 -
1,117 788

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 19,062 14,921
Other creditors 5,999 5,914
25,061 20,835