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REGISTERED NUMBER: 05711729 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

D. Smith Express Limited

D. Smith Express Limited (Registered number: 05711729)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

D. Smith Express Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: S A Smith
J B Keeling
Mrs S J Smith





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





REGISTERED NUMBER: 05711729 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

D. Smith Express Limited (Registered number: 05711729)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,885,786 1,746,380

CURRENT ASSETS
Stocks 45,000 37,500
Debtors 5 415,819 486,573
Cash at bank and in hand 478,390 329,310
939,209 853,383
CREDITORS
Amounts falling due within one year 6 563,500 578,229
NET CURRENT ASSETS 375,709 275,154
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,261,495

2,021,534

CREDITORS
Amounts falling due after more than one
year

7

(765,423

)

(741,469

)

PROVISIONS FOR LIABILITIES (471,449 ) (321,484 )
NET ASSETS 1,024,623 958,581

CAPITAL AND RESERVES
Called up share capital 40 40
Capital redemption reserve 161 161
Retained earnings 1,024,422 958,380
SHAREHOLDERS' FUNDS 1,024,623 958,581

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

D. Smith Express Limited (Registered number: 05711729)

Balance Sheet - continued
30 April 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:





S A Smith - Director


D. Smith Express Limited (Registered number: 05711729)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

D. Smith Express Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of service is recognised when the company has delivered to the customer, the customer has accepted and collectability of the related receivable is reasonably assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

D. Smith Express Limited (Registered number: 05711729)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 3,391,623
Additions 644,400
Disposals (558,845 )
At 30 April 2024 3,477,178
DEPRECIATION
At 1 May 2023 1,645,243
Charge for year 359,078
Eliminated on disposal (412,929 )
At 30 April 2024 1,591,392
NET BOOK VALUE
At 30 April 2024 1,885,786
At 30 April 2023 1,746,380

D. Smith Express Limited (Registered number: 05711729)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2023 3,027,310
Additions 497,626
Disposals (487,195 )
At 30 April 2024 3,037,741
DEPRECIATION
At 1 May 2023 1,390,450
Charge for year 302,892
Eliminated on disposal (371,985 )
At 30 April 2024 1,321,357
NET BOOK VALUE
At 30 April 2024 1,716,384
At 30 April 2023 1,636,860

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 413,284 456,197
Other debtors 2,167 29,986
Prepayments 368 390
415,819 486,573

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 332,913 360,077
Trade creditors 88,670 109,673
Tax 431 49
Social security and other taxes 19,185 18,706
Pension control - 905
VAT 111,005 72,021
Other creditors 7,822 11,476
Directors' loan accounts 474 2,172
Accrued expenses 3,000 3,150
563,500 578,229

D. Smith Express Limited (Registered number: 05711729)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 765,423 741,469

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
D. Smith Express Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of D. Smith Express Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of D. Smith Express Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of D. Smith Express Limited and state those matters that we have agreed to state to the Board of Directors of D. Smith Express Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D. Smith Express Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that D. Smith Express 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 D. Smith Express Limited. You consider that D. Smith Express 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 D. Smith Express 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.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


1 October 2024