Silverfin false false 31/03/2024 01/04/2023 31/03/2024 C E Bewick 29/02/2024 01/04/2022 D J Smith 26/03/2013 R B Village 26/03/2013 P R Woodcock 01/01/2015 25 July 2024 The principal activity of the company during the financial year is that of brand consultancy. 08463279 2024-03-31 08463279 bus:Director1 2024-03-31 08463279 bus:Director2 2024-03-31 08463279 bus:Director3 2024-03-31 08463279 bus:Director4 2024-03-31 08463279 2023-03-31 08463279 core:CurrentFinancialInstruments 2024-03-31 08463279 core:CurrentFinancialInstruments 2023-03-31 08463279 core:ShareCapital 2024-03-31 08463279 core:ShareCapital 2023-03-31 08463279 core:RetainedEarningsAccumulatedLosses 2024-03-31 08463279 core:RetainedEarningsAccumulatedLosses 2023-03-31 08463279 core:ComputerEquipment 2023-03-31 08463279 core:ComputerEquipment 2024-03-31 08463279 bus:OrdinaryShareClass1 2024-03-31 08463279 2023-04-01 2024-03-31 08463279 bus:FilletedAccounts 2023-04-01 2024-03-31 08463279 bus:SmallEntities 2023-04-01 2024-03-31 08463279 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08463279 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08463279 bus:Director1 2023-04-01 2024-03-31 08463279 bus:Director2 2023-04-01 2024-03-31 08463279 bus:Director3 2023-04-01 2024-03-31 08463279 bus:Director4 2023-04-01 2024-03-31 08463279 core:ComputerEquipment core:TopRangeValue 2023-04-01 2024-03-31 08463279 2022-04-01 2023-03-31 08463279 core:ComputerEquipment 2023-04-01 2024-03-31 08463279 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08463279 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08463279 (England and Wales)

SMITH & VILLAGE LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SMITH & VILLAGE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SMITH & VILLAGE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
SMITH & VILLAGE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,626 3,020
1,626 3,020
Current assets
Debtors 4 28,825 14,804
Cash at bank and in hand 28,116 30,405
56,941 45,209
Creditors: amounts falling due within one year 5 ( 23,435) ( 11,105)
Net current assets 33,506 34,104
Total assets less current liabilities 35,132 37,124
Net assets 35,132 37,124
Capital and reserves
Called-up share capital 6 8 8
Profit and loss account 35,124 37,116
Total shareholders' funds 35,132 37,124

For the financial year ending 31 March 2024 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 Smith & Village Limited (registered number: 08463279) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D J Smith
Director
R B Village
Director
P R Woodcock
Director

25 July 2024

SMITH & VILLAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SMITH & VILLAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Smith & Village 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 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

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.

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:

Computer equipment 4 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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/Statement of Comprehensive Income.

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.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

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

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 4

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 April 2023 7,975 7,975
Disposals ( 4,098) ( 4,098)
At 31 March 2024 3,877 3,877
Accumulated depreciation
At 01 April 2023 4,955 4,955
Charge for the financial year 1,394 1,394
Disposals ( 4,098) ( 4,098)
At 31 March 2024 2,251 2,251
Net book value
At 31 March 2024 1,626 1,626
At 31 March 2023 3,020 3,020

4. Debtors

2024 2023
£ £
Trade debtors 28,644 14,804
Other debtors 181 0
28,825 14,804

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 12,200 1,366
Amounts owed to directors 616 520
Accruals and deferred income 2,670 3,000
Taxation and social security 7,941 5,907
Other creditors 8 312
23,435 11,105

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
8 Ordinary shares of £ 1.00 each 8 8

7. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 0 292