0 01/01/2023 31/12/2023 2023-12-31 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05161259 2023-01-01 2023-12-31 05161259 2023-12-31 05161259 2022-12-31 05161259 2022-01-01 2022-12-31 05161259 2022-12-31 05161259 2021-12-31 05161259 core:PlantMachinery 2023-01-01 2023-12-31 05161259 bus:RegisteredOffice 2023-01-01 2023-12-31 05161259 bus:Director1 2023-01-01 2023-12-31 05161259 bus:Director2 2023-01-01 2023-12-31 05161259 bus:Director3 2023-01-01 2023-12-31 05161259 bus:Director4 2023-01-01 2023-12-31 05161259 bus:Director5 2023-01-01 2023-12-31 05161259 bus:CompanySecretary1 2023-01-01 2023-12-31 05161259 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 05161259 core:PlantMachinery 2022-12-31 05161259 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 05161259 core:PlantMachinery 2023-12-31 05161259 core:FurnitureFittingsToolsEquipment 2023-12-31 05161259 core:WithinOneYear 2023-12-31 05161259 core:WithinOneYear 2022-12-31 05161259 core:ShareCapital 2023-12-31 05161259 core:ShareCapital 2022-12-31 05161259 core:RetainedEarningsAccumulatedLosses 2023-12-31 05161259 core:RetainedEarningsAccumulatedLosses 2022-12-31 05161259 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05161259 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 05161259 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 05161259 core:PlantMachinery 2022-12-31 05161259 bus:Director1 2022-12-31 05161259 bus:Director1 2023-12-31 05161259 bus:Director1 2021-12-31 05161259 bus:Director1 2022-12-31 05161259 bus:Director1 2022-01-01 2022-12-31 05161259 bus:SmallEntities 2023-01-01 2023-12-31 05161259 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05161259 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05161259 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05161259 bus:FullAccounts 2023-01-01 2023-12-31 05161259 1 2023-01-01 2023-12-31
Company registration number: 05161259
Smithcem K'5 Limited
Trading as Smithcem K'5 Limited
Unaudited filleted financial statements
31 December 2023
Smithcem K'5 Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Smithcem K'5 Limited
Directors and other information
Directors Mr Kenneth Smith
Mr Chesney Smith
Mr Timothy Phipps
Mr Jason Phipps
Miss Bonnie Smith
Secretary Kenneth Smith
Company number 05161259
Registered office 95 Boston Road
Sleaford
Lincolnshire
NG34 7HP
Smithcem K'5 Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 671,821 322,298
_______ _______
671,821 322,298
Current assets
Stocks 300 300
Debtors 6 115 115
Cash at bank and in hand 38,494 16,998
_______ _______
38,909 17,413
Creditors: amounts falling due
within one year 7 ( 595,856) ( 238,049)
_______ _______
Net current liabilities ( 556,947) ( 220,636)
_______ _______
Total assets less current liabilities 114,874 101,662
_______ _______
Net assets 114,874 101,662
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 114,774 101,562
_______ _______
Shareholder funds 114,874 101,662
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The member has 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 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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
Mr Kenneth Smith
Director
Company registration number: 05161259
Smithcem K'5 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 95 Boston Road, Sleaford, Lincolnshire, NG34 7HP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover represents amounts chargeable by the company for goods and services provided during the year.
Taxation
The charge for taxation is based on the profit or loss for the year.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
The company only holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets-trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepaymenst are not financial instruments. Cash at bank is classifies as a basic financial instrument and is measured at amortised cost. Financial liabilities-trade creditors, accruals and othercreditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 January 2023 322,218 400 - 322,618
Additions 333,560 - 15,975 349,535
_______ _______ _______ _______
At 31 December 2023 655,778 400 15,975 672,153
_______ _______ _______ _______
Depreciation
At 1 January 2023 - 320 - 320
Charge for the year - 12 - 12
_______ _______ _______ _______
At 31 December 2023 - 332 - 332
_______ _______ _______ _______
Carrying amount
At 31 December 2023 655,778 68 15,975 671,821
_______ _______ _______ _______
At 31 December 2022 322,218 80 - 322,298
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Other debtors 115 115
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,207 593
Corporation tax 3,583 481
Other creditors 591,066 236,975
_______ _______
595,856 238,049
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Kenneth Smith ( 236,975) ( 354,942) 851 ( 591,066)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Kenneth Smith ( 132,200) ( 106,400) 1,625 ( 236,975)
_______ _______ _______ _______
9. Controlling party
During the year the director Kenneth Smith controlled the company by virtue of a controlling interest of 100% of the issued share capital.