REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2023 TO 30 SEPTEMBER 2024 |
FOR |
G H SMITH LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 August 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 September 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 July 2023 |
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 |
Additions |
Disposals | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 July 2023 |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 31.7.23 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.24 | 31.7.23 |
£ | £ |
Bank loans |
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 |
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 |
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 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |