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REGISTERED NUMBER: 11337393 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2023 TO 30 SEPTEMBER 2024

FOR

G H SMITH LIMITED

G H SMITH LIMITED (REGISTERED NUMBER: 11337393)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G H SMITH LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 AUGUST 2023 TO 30 SEPTEMBER 2024







DIRECTORS: M J Smith
Mrs N Smith





REGISTERED OFFICE: 307 High Road
Newton in the Isle
Wisbech
Cambridgeshire
PE13 5HR





REGISTERED NUMBER: 11337393 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

G H SMITH LIMITED (REGISTERED NUMBER: 11337393)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 322,404
Investment property 5 - 243,750
- 566,154

CURRENT ASSETS
Debtors 6 127,124 2,627
Cash at bank 54,746 7,577
181,870 10,204
CREDITORS
Amounts falling due within one year 7 43,248 215,290
NET CURRENT ASSETS/(LIABILITIES) 138,622 (205,086 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,622

361,068

CREDITORS
Amounts falling due after more than one year 8 - (291,663 )

PROVISIONS FOR LIABILITIES - (12,879 )
NET ASSETS 138,622 56,526

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 - 52,271
Retained earnings 138,522 4,155
SHAREHOLDERS' FUNDS 138,622 56,526

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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.

G H SMITH LIMITED (REGISTERED NUMBER: 11337393)

BALANCE SHEET - continued
30 SEPTEMBER 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 15 October 2024 and were signed on its behalf by:





M J Smith - Director


G H SMITH LIMITED (REGISTERED NUMBER: 11337393)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

G H Smith 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

As the trade ceased on 30 June 2023 the directors consider it inappropriate to prepare the financial statements on a going concern basis and therefore the directors have prepared these financial statements on a break-up basis.

In adopting the break-up basis, at the year end, the following policies and procedures were implemented:

- All assets have been disclosed at values at which they are expected to be realised;
- All liabilities reflect the full amount at which they are expected to materialise, including any costs of early
settlement; and
- Any other costs associated with winding up the business are recognised.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 33% on cost and 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the period 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.


G H SMITH LIMITED (REGISTERED NUMBER: 11337393)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 341,846 8,392 478 639 351,355
Additions 36,466 - - - 36,466
Disposals (378,312 ) (8,392 ) (478 ) (639 ) (387,821 )
At 30 September 2024 - - - - -
DEPRECIATION
At 1 August 2023 20,220 8,088 295 348 28,951
Charge for period 7,874 89 53 85 8,101
Eliminated on disposal (28,094 ) (8,177 ) (348 ) (433 ) (37,052 )
At 30 September 2024 - - - - -
NET BOOK VALUE
At 30 September 2024 - - - - -
At 31 July 2023 321,626 304 183 291 322,404

G H SMITH LIMITED (REGISTERED NUMBER: 11337393)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 SEPTEMBER 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 243,750
Additions 720
Disposals (244,470 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 31 July 2023 243,750

Investment property was valued on an open market basis on 8 November 2023 by Brown & Co which forms the basis for the fair value at 31 July 2023. During the period to 30 September 2024 the investment property was sold.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.7.23
£    £   
Other debtors 127,124 2,627

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.7.23
£    £   
Bank loans and overdrafts - 8,829
Taxation and social security 41,948 948
Other creditors 1,300 205,513
43,248 215,290

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 31.7.23
£    £   
Bank loans - 291,663

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 249,691

G H SMITH LIMITED (REGISTERED NUMBER: 11337393)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 SEPTEMBER 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 31.7.23
£    £   
Bank loans - 300,492

The loan is secured by a fixed charge over freehold property and land owned by the company at High Road, Newton.

10. RESERVES
Fair
value
reserve
£   
At 1 August 2023 52,271
Transfer between reserves (52,271 )

At 30 September 2024 -

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 September 2024 and the year ended 31 July 2023:

30.9.24 31.7.23
£    £   
M J Smith and Mrs N Smith
Balance outstanding at start of period - -
Amounts advanced 127,123 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 127,123 -