Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-3032022-10-01falseOther service activities not elsewhere classified3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01975171 2022-10-01 2023-09-30 01975171 2021-10-01 2022-09-30 01975171 2023-09-30 01975171 2022-09-30 01975171 c:Director2 2022-10-01 2023-09-30 01975171 d:Buildings 2023-09-30 01975171 d:Buildings 2022-09-30 01975171 d:Buildings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 01975171 d:Buildings d:LongLeaseholdAssets 2022-10-01 2023-09-30 01975171 d:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 01975171 d:OtherPropertyPlantEquipment 2023-09-30 01975171 d:OtherPropertyPlantEquipment 2022-09-30 01975171 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 01975171 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 01975171 d:CurrentFinancialInstruments 2023-09-30 01975171 d:CurrentFinancialInstruments 2022-09-30 01975171 d:Non-currentFinancialInstruments 2023-09-30 01975171 d:Non-currentFinancialInstruments 2022-09-30 01975171 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 01975171 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 01975171 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 01975171 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 01975171 d:ShareCapital 2023-09-30 01975171 d:ShareCapital 2022-09-30 01975171 d:RetainedEarningsAccumulatedLosses 2023-09-30 01975171 d:RetainedEarningsAccumulatedLosses 2022-09-30 01975171 c:OrdinaryShareClass1 2022-10-01 2023-09-30 01975171 c:OrdinaryShareClass1 2023-09-30 01975171 c:FRS102 2022-10-01 2023-09-30 01975171 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 01975171 c:FullAccounts 2022-10-01 2023-09-30 01975171 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 01975171 d:WithinOneYear 2023-09-30 01975171 d:WithinOneYear 2022-09-30 01975171 d:BetweenOneFiveYears 2023-09-30 01975171 d:BetweenOneFiveYears 2022-09-30 01975171 d:MoreThanFiveYears 2023-09-30 01975171 d:MoreThanFiveYears 2022-09-30 01975171 2 2022-10-01 2023-09-30 01975171 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 01975171 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01975171









SMITH & TAYLOR LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
SMITH & TAYLOR LIMITED
REGISTERED NUMBER: 01975171

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023


2023

2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
28,457
33,155

Current assets
  

Debtors: amounts falling due within one year
 5 
333,491
309,690

Cash at bank and in hand
 6 
57,158
66,716

  
390,649
376,406

Creditors: amounts falling due within one year
 7 
(180,751)
(160,282)

Net current assets
  
 
 
209,898
 
 
216,124

Total assets less current liabilities
  
238,355
249,279

Creditors: amounts falling due after more than one year
 8 
(65,877)
(86,721)

Provisions for liabilities
  

Deferred tax
 9 
(4,489)
(5,056)

Net assets
  
167,989
157,502


Capital and reserves
  

Called up share capital 
 10 
30,000
30,000

Profit and loss account
  
137,989
127,502

  
167,989
157,502

Page 1

 
SMITH & TAYLOR LIMITED
REGISTERED NUMBER: 01975171
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2024.




S D C Riley-Smith
Director


The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
SMITH & TAYLOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Smith & Taylor Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Chelsea Bridge Cellars, 1C Broughton Street, London, SW8 3QJ.
The company specialises in containerised storage and delivery of fine wines and the design and manufacture of wine rooms and cabinets.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of approved of the Statement of financial position. As such, the directors believe that there are not significant uncertainties in their assessment of whether the company is a going concern and therefore have prepared the accounts on a going concen basis. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
Page 3

 
SMITH & TAYLOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Land and buildings
-
Over the life of the lease
Other fixed assets
-
20% straight line and 15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
SMITH & TAYLOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.12

Current and deferred taxation

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Page 5

 
SMITH & TAYLOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.13

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of comprehensive income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.14

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost 


At 1 October 2022
105,285
161,083
266,368



At 30 September 2023

105,285
161,083
266,368



Depreciation


At 1 October 2022
88,244
144,969
233,213


Charge for the year
1,844
2,854
4,698



At 30 September 2023

90,088
147,823
237,911



Net book value



At 30 September 2023
15,197
13,260
28,457



At 30 September 2022
17,041
16,114
33,155

Page 6

 
SMITH & TAYLOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
95,932
30,002

Other debtors
209,529
256,579

Prepayments and accrued income
28,030
23,109

333,491
309,690



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
57,158
66,716

57,158
66,716



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
24,284
23,635

Trade creditors
59,654
57,536

Corporation tax
12,596
33,040

Other taxation and social security
45,027
30,453

Obligations under finance lease and hire purchase contracts
2,827
2,827

Other creditors
-
1,909

Accruals and deferred income
36,363
10,882

180,751
160,282


The bank loans are secured against all the property and undertakings of the company.
Obligations under finance leases and hire purchase contracts we secured against the assets to which they relate.

Page 7

 
SMITH & TAYLOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
64,934
83,187

Net obligations under finance leases and hire purchase contracts
943
3,534

65,877
86,721


The bank loans are secured against all the property and undertakings of the company.
Obligations under finance leases and hire purchase contracts we secured against the assets to which they relate.


9.


Deferred taxation




2023


£






At beginning of year
5,056


Credited to the Statement of comprehensive income
(567)



At end of year
4,489

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
4,489
5,056

4,489
5,056


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



30,000 Ordinary shares of £1 each
30,000
30,000


Page 8

 
SMITH & TAYLOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions repayable by the company to the fund and amounted to £Nil (2022 - £1,669). Total contribution payable at the year end was £Nil (2022 - £Nil).


12.


Commitments under operating leases

At 30 September 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
36,000
36,000

Later than 1 year and not later than 5 years
144,000
144,000

Later than 5 years
3,000
39,000

183,000
219,000


13.


Transactions with directors

Included within other debtors is an amount of £111,477 (2022 - £158,527) due from the directors. During the year, the directors repaid £2,050 (2022 - £4,069) and were given further loans of £Nil (2022 - £Nil). There is no interest payable or accruing on this loan.


14.


Related party transactions

Included within other debtors is an amount of £28,000 (2022 - £28,000) due from a company with common directors.

Inculded within trade creditors is an amount of £1,411 (2022 - £1,540) due to a family member of the directors
 


15.


Controlling party

The ultimate controlling parties are the directors, by virtue of their shareholdings.

 
Page 9