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COMPANY REGISTRATION NUMBER: 00357903
William Smith (Fluor Spar) Limited
Filleted Unaudited Financial Statements
31 December 2023
William Smith (Fluor Spar) Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
William Smith (Fluor Spar) Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of William Smith (Fluor Spar) Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of William Smith (Fluor Spar) Limited for the year ended 31 December 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of William Smith (Fluor Spar) Limited, as a body, in accordance with the terms of our engagement letter dated 12 June 2022. Our work has been undertaken solely to prepare for your approval the financial statements of William Smith (Fluor Spar) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than William Smith (Fluor Spar) Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that William Smith (Fluor Spar) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of William Smith (Fluor Spar) Limited. You consider that William Smith (Fluor Spar) Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of William Smith (Fluor Spar) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
11 September 2024
William Smith (Fluor Spar) Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
1,039
1,039
Current assets
Debtors
5
8,319
8,319
-------
-------
Net current assets
8,319
8,319
-------
-------
Total assets less current liabilities
9,358
9,358
-------
-------
Capital and reserves
Called up share capital
9,000
9,000
Capital redemption reserve
358
358
-------
-------
Shareholders funds
9,358
9,358
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 September 2024 , and are signed on behalf of the board by:
Mr T W R G Smith
Director
Company registration number: 00357903
William Smith (Fluor Spar) Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Black Hole Mine, Foolow Road, Eyam, Derbyshire, S32 5QS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in shareholders funds during the current year or prior year.
Income tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less ) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Land and buildings
£
Cost
At 1 January 2023 and 31 December 2023
1,039
-------
Depreciation
At 1 January 2023 and 31 December 2023
-------
Carrying amount
At 31 December 2023
1,039
-------
At 31 December 2022
1,039
-------
The directors have reviewed the value of the company property at the year end date and consider that the carrying value is appropriate, given the circumstances of the location and associated issues.
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
8,319
8,319
-------
-------
6. Related party transactions
The company is a wholly owned subsidiary of Fine Grinding Limited. William Smith (Fluor Spar) Limited has an inter company loan arrangement with Fine Grinding Limited. At 31 December 2023 William Smith (Fluor Spar) Limited was owed £8,319 (2022 £8,319) in this regard, in relation to which no formal repayment terms apply. William Smith (Fluor Spar) Limited provides an unlimited cross guarantee with Lloyds Bank plc as security for any amounts owing to the bank by Fine Grinding Limited. At 31 December 2023 there were no such borrowings.
7. Controlling party
The ultimate parent undertaking is Fine Grinding Limited which is incorporated in England and Wales. Fine Grinding Limited is controlled by Mr T W R G Smith .