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Company Registration No. 07931202 (England and Wales)
T Smith Limited Unaudited accounts for the year ended 29 February 2024
T Smith Limited Unaudited accounts Contents
Page
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T Smith Limited Company Information for the year ended 29 February 2024
Directors
Mr T M Smith Mrs E L Smith
Company Number
07931202 (England and Wales)
Registered Office
Meadow View West Hoe Lane Bishops Waltham Hampshire SO32 1DT
Accountants
Meon Valley Accounting Ltd Malt House Studios 4 Brook Street Bishops Waltham Hampshire SO32 1AX
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T Smith Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
56,832 
26,185 
Current assets
Debtors
28,677 
22,929 
Cash at bank and in hand
301,656 
248,805 
330,333 
271,734 
Creditors: amounts falling due within one year
(41,408)
(42,298)
Net current assets
288,925 
229,436 
Total assets less current liabilities
345,757 
255,621 
Provisions for liabilities
Deferred tax
(12,019)
(4,050)
Net assets
333,738 
251,571 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
333,638 
251,471 
Shareholders' funds
333,738 
251,571 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by
Mr T M Smith Director Company Registration No. 07931202
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T Smith Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
T Smith Limited is a private company, limited by shares, registered in England and Wales, registration number 07931202. The registered office is Meadow View, West Hoe Lane, Bishops Waltham, Hampshire, SO32 1DT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% reducing balance
Plant & machinery
15% reducing balance
Motor vehicles
15% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
15% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Goodwill is estimated to have a useful life of 10 years.
Government grants
Grants are accounted for under the accruals model as permitted by FRS102. Grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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T Smith Limited Notes to the Accounts for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
80,000 
At 29 February 2024
80,000 
Amortisation
At 1 March 2023
80,000 
At 29 February 2024
80,000 
Net book value
At 29 February 2024
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 March 2023
5,600 
5,780 
68,918 
4,862 
4,482 
89,642 
Additions
- 
396 
51,787 
- 
1,212 
53,395 
Disposals
- 
- 
(68,918)
- 
- 
(68,918)
At 29 February 2024
5,600 
6,176 
51,787 
4,862 
5,694 
74,119 
Depreciation
At 1 March 2023
1,064 
1,434 
55,932 
3,718 
1,309 
63,457 
Charge for the year
454 
711 
7,768 
171 
658 
9,762 
On disposals
- 
- 
(55,932)
- 
- 
(55,932)
At 29 February 2024
1,518 
2,145 
7,768 
3,889 
1,967 
17,287 
Net book value
At 29 February 2024
4,082 
4,031 
44,019 
973 
3,727 
56,832 
At 28 February 2023
4,536 
4,346 
12,986 
1,144 
3,173 
26,185 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
26,834 
19,171 
Accrued income and prepayments
1,843 
1,875 
Other debtors
- 
1,883 
28,677 
22,929 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
12,176 
13,372 
Taxes and social security
28,416 
22,599 
Loans from directors
41 
5,552 
Accruals
775 
775 
41,408 
42,298 
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T Smith Limited Notes to the Accounts for the year ended 29 February 2024
8
Average number of employees
During the year the average number of employees was 2 (2023: 4).
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