Gregory J Smith Limited 06044217 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of transport and haulage Digita Accounts Production Advanced 6.30.9574.0 true 06044217 2023-04-01 2024-03-31 06044217 2024-03-31 06044217 core:RetainedEarningsAccumulatedLosses 2024-03-31 06044217 core:ShareCapital 2024-03-31 06044217 core:CurrentFinancialInstruments 2024-03-31 06044217 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06044217 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06044217 core:MotorVehicles 2024-03-31 06044217 core:OtherPropertyPlantEquipment 2024-03-31 06044217 bus:SmallEntities 2023-04-01 2024-03-31 06044217 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06044217 bus:FilletedAccounts 2023-04-01 2024-03-31 06044217 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06044217 bus:RegisteredOffice 2023-04-01 2024-03-31 06044217 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 06044217 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06044217 core:Goodwill 2023-04-01 2024-03-31 06044217 core:MotorVehicles 2023-04-01 2024-03-31 06044217 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 06044217 core:PlantMachinery 2023-04-01 2024-03-31 06044217 countries:England 2023-04-01 2024-03-31 06044217 2023-03-31 06044217 core:MotorVehicles 2023-03-31 06044217 core:OtherPropertyPlantEquipment 2023-03-31 06044217 2022-04-01 2023-03-31 06044217 2023-03-31 06044217 core:RetainedEarningsAccumulatedLosses 2023-03-31 06044217 core:ShareCapital 2023-03-31 06044217 core:CurrentFinancialInstruments 2023-03-31 06044217 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06044217 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06044217 core:MotorVehicles 2023-03-31 06044217 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06044217

Gregory J Smith Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Gregory J Smith Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Gregory J Smith Limited

(Registration number: 06044217)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

161,202

133,603

Current assets

 

Debtors

5

79,068

82,942

Cash at bank and in hand

 

118,357

105,439

 

197,425

188,381

Creditors: Amounts falling due within one year

6

(103,093)

(81,281)

Net current assets

 

94,332

107,100

Total assets less current liabilities

 

255,534

240,703

Creditors: Amounts falling due after more than one year

6

(56,377)

(38,298)

Provisions for liabilities

(30,628)

(25,385)

Net assets

 

168,529

177,020

Capital and reserves

 

Called up share capital

100

100

Retained earnings

168,429

176,920

Shareholders' funds

 

168,529

177,020

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Gregory J Smith Limited

(Registration number: 06044217)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:
 

.........................................
S Smith
Company secretary and director

 

Gregory J Smith Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Highfield
Zion Road
Palestine
Grateley, Andover
Hampshire
SP11 7EN

These financial statements were authorised for issue by the Board on 29 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:

Asset class

Depreciation method and rate

Plant & machinery

15% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill is capitalised and amortised over its useful life.

Amortisation

 

Gregory J Smith Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Asset class

Amortisation method and rate

Goodwill

20% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

Defined contribution pension obligation

The company operates a defined contribution scheme for the benefit of its employees. Contributions are recognised in profit and loss account when due.

Financial instruments


Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

 

Gregory J Smith Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

426,787

15,567

442,354

Additions

86,910

-

86,910

Disposals

(53,000)

(2,514)

(55,514)

At 31 March 2024

460,697

13,053

473,750

Depreciation

At 1 April 2023

300,630

8,121

308,751

Charge for the year

51,940

949

52,889

Eliminated on disposal

(47,694)

(1,398)

(49,092)

At 31 March 2024

304,876

7,672

312,548

Carrying amount

At 31 March 2024

155,821

5,381

161,202

At 31 March 2023

126,157

7,446

133,603

5

Debtors

Current

2024
£

2023
£

Trade debtors

79,068

81,486

Prepayments

-

1,456

 

79,068

82,942

 

Gregory J Smith Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

40,849

19,421

Trade creditors

 

12,426

13,279

Taxation and social security

 

27,634

28,411

Accruals and deferred income

 

6,009

4,066

Other creditors

 

16,175

16,104

 

103,093

81,281

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

56,377

38,298

7

Loans and borrowings

Finance lease and hire purchase contracts
Finance lease and hire purchase contracts with with a carrying amount of £73,060 (2023: £22,530) are secured by certain plant and machinery.