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REGISTERED NUMBER: 08195991 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

FOR

G SMITH KITCHENS & BEDROOMS LIMITED

G SMITH KITCHENS & BEDROOMS LIMITED (REGISTERED NUMBER: 08195991)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G SMITH KITCHENS & BEDROOMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTOR: G D Smith





REGISTERED OFFICE: 36-40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL





REGISTERED NUMBER: 08195991 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

G SMITH KITCHENS & BEDROOMS LIMITED (REGISTERED NUMBER: 08195991)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,936 53,023

CURRENT ASSETS
Stocks 5 11,000 11,500
Debtors 6 6,904 27,727
Cash at bank and in hand 41,859 65,536
59,763 104,763
CREDITORS
Amounts falling due within one year 7 75,282 126,709
NET CURRENT LIABILITIES (15,519 ) (21,946 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,417

31,077

CREDITORS
Amounts falling due after more than one
year

8

(9,167

)

(19,167

)

PROVISIONS FOR LIABILITIES 10 (6,908 ) (11,458 )
NET ASSETS 342 452

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 242 352
SHAREHOLDERS' FUNDS 342 452

G SMITH KITCHENS & BEDROOMS LIMITED (REGISTERED NUMBER: 08195991)

BALANCE SHEET - continued
31ST AUGUST 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit & Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th September 2024 and were signed by:





G D Smith - Director


G SMITH KITCHENS & BEDROOMS LIMITED (REGISTERED NUMBER: 08195991)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024

1. STATUTORY INFORMATION

G Smith Kitchens & Bedrooms 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 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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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 Profit & Loss Account and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

G SMITH KITCHENS & BEDROOMS LIMITED (REGISTERED NUMBER: 08195991)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st September 2023 61,793 14,557 45,358 12,020 133,728
Additions - - - 515 515
Disposals (10,660 ) - (25,858 ) (4,101 ) (40,619 )
At 31st August 2024 51,133 14,557 19,500 8,434 93,624
DEPRECIATION
At 1st September 2023 32,597 8,492 29,727 9,889 80,705
Charge for year 2,494 606 611 916 4,627
Eliminated on disposal (6,413 ) - (13,280 ) (3,951 ) (23,644 )
At 31st August 2024 28,678 9,098 17,058 6,854 61,688
NET BOOK VALUE
At 31st August 2024 22,455 5,459 2,442 1,580 31,936
At 31st August 2023 29,196 6,065 15,631 2,131 53,023

5. STOCKS
2024 2023
£    £   
Stocks 11,000 11,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,700 25,200
Prepayments 2,204 2,527
6,904 27,727

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Trade creditors 6,709 21,242
Tax 26,731 15,366
Social security and other taxes 3,281 3,824
VAT 10,509 18,180
Other creditors 700 526
Directors' current accounts 5,031 3,329
Accrued expenses 12,321 54,242
75,282 126,709

G SMITH KITCHENS & BEDROOMS LIMITED (REGISTERED NUMBER: 08195991)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 9,167 19,167

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,167 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 9,167

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,908 11,458

Deferred
tax
£   
Balance at 1st September 2023 11,458
Provided during year (4,550 )
Balance at 31st August 2024 6,908

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
45 Ordinary B £1 45 45
5 Ordinary C £1 5 5
100 100

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G D Smith.