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REGISTERED NUMBER: 04580117 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

YOUNGER SMITH LIMITED

YOUNGER SMITH LIMITED (REGISTERED NUMBER: 04580117)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


YOUNGER SMITH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: R A Younger





SECRETARY: Mrs C A Younger





REGISTERED OFFICE: Unit 33 Crestlands Business Park
Bull Lane
Acton
Sudbury
Suffolk
CO10 0BD





REGISTERED NUMBER: 04580117 (England and Wales)





ACCOUNTANTS: SW Accountancy
Chartered Certified Accountants
7 Davidson Close
Great Cornard
Sudbury
Suffolk
CO10 0YU

YOUNGER SMITH LIMITED (REGISTERED NUMBER: 04580117)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,032 43,887
37,032 43,887

CURRENT ASSETS
Stocks 3,500 3,500
Debtors 6 13,061 19,408
Cash at bank 94,186 90,944
110,747 113,852
CREDITORS
Amounts falling due within one year 7 71,442 95,853
NET CURRENT ASSETS 39,305 17,999
TOTAL ASSETS LESS CURRENT LIABILITIES 76,337 61,886

CREDITORS
Amounts falling due after more than one year 8 (62,585 ) (26,100 )

PROVISIONS FOR LIABILITIES (7,036 ) (8,339 )
NET ASSETS 6,716 27,447

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 6,616 27,347
SHAREHOLDERS' FUNDS 6,716 27,447

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 October 2024 and were signed by:





R A Younger - Director


YOUNGER SMITH LIMITED (REGISTERED NUMBER: 04580117)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Younger 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 equipment - 25% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 25% 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

YOUNGER SMITH LIMITED (REGISTERED NUMBER: 04580117)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 15,000
AMORTISATION
At 1 April 2023
and 31 March 2024 15,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Office Motor
equipment equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2023 2,944 4,258 77,697 84,899
Additions 1,300 4,190 - 5,490
At 31 March 2024 4,244 8,448 77,697 90,389
DEPRECIATION
At 1 April 2023 2,031 2,612 36,369 41,012
Charge for year 553 1,460 10,332 12,345
At 31 March 2024 2,584 4,072 46,701 53,357
NET BOOK VALUE
At 31 March 2024 1,660 4,376 30,996 37,032
At 31 March 2023 913 1,646 41,328 43,887

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 33,400
DEPRECIATION
At 1 April 2023 2,946
Charge for year 6,854
At 31 March 2024 9,800
NET BOOK VALUE
At 31 March 2024 23,600
At 31 March 2023 30,454

YOUNGER SMITH LIMITED (REGISTERED NUMBER: 04580117)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,136 16,610
Other debtors 2,925 2,798
13,061 19,408

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,942 -
Hire purchase contracts 6,066 5,099
Trade creditors 41,816 49,270
Taxation and social security 10,279 24,282
Other creditors 6,339 17,202
71,442 95,853

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 42,551 -
Hire purchase contracts 20,034 26,100
62,585 26,100

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 49,493 -

The bank loan is secured by a personal guarantee given by the director.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2023 27,347
Profit for the year 25,469
Dividends (46,200 )
At 31 March 2024 6,616