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Registration number: 7704233

C C Smiff Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

C C Smiff Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

C C Smiff Limited

Company Information

Directors

Mr N I Smith

Mrs S Smith

Company secretary

Mrs S Smith

Registered office

Kings Arms Vaults
Watton
Brecon
LD3 7EF

Accountants

King Morter Proud & Con Ltd
Chartered Accountants
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

 

C C Smiff Limited

(Registration number: 7704233)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

8,077

12,368

Current assets

 

Cash at bank and in hand

 

542,458

527,899

Creditors: Amounts falling due within one year

5

(53,189)

(71,019)

Net current assets

 

489,269

456,880

Net assets

 

497,346

469,248

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

497,344

469,246

Shareholders' funds

 

497,346

469,248

For the financial 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 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.

Approved and authorised by the Board on 16 September 2024 and signed on its behalf by:
 

.........................................
Mr N I Smith
Director

 

C C Smiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Kings Arms Vaults
Watton
Brecon
LD3 7EF
United Kingdom

The principal place of business is:
18 Aysgarth Avenue
Up Hatherley
Cheltenham
Gloucestershire
GL51 3RE

These financial statements were authorised for issue by the Board on 16 September 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

C C Smiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

20% Reducing balance basis

Motor vehicles

20% Reducing balance basis

Office equipment

25% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

C C Smiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

C C Smiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 January 2023

2,270

1,500

5,161

28,358

At 31 December 2023

2,270

1,500

5,161

28,358

Depreciation

At 1 January 2023

1,568

1,185

5,000

17,168

Charge for the year

140

63

1,290

2,798

At 31 December 2023

1,708

1,248

6,290

19,966

Carrying amount

At 31 December 2023

562

252

(1,129)

8,392

At 31 December 2022

702

315

161

11,190

Total
£

Cost or valuation

At 1 January 2023

37,289

At 31 December 2023

37,289

Depreciation

At 1 January 2023

24,921

Charge for the year

4,291

At 31 December 2023

29,212

Carrying amount

At 31 December 2023

8,077

At 31 December 2022

12,368

5

Creditors

Creditors: amounts falling due within one year

 

C C Smiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2023
£

2022
£

Due within one year

Trade creditors

2,100

3,813

Taxation and social security

46,033

59,930

Other creditors

5,056

7,276

53,189

71,019

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

7

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £74,000.00 (2022 - £74,000.00)

 

74,000

 

74,000

         

8

Related party transactions

 

C C Smiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

24,960

24,960