IRIS Accounts Production v24.3.0.553 01102789 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh011027892023-02-28011027892024-02-29011027892023-03-012024-02-29011027892022-02-28011027892022-03-012023-02-28011027892023-02-2801102789ns15:EnglandWales2023-03-012024-02-2901102789ns14:PoundSterling2023-03-012024-02-2901102789ns10:Director12023-03-012024-02-2901102789ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2901102789ns10:SmallEntities2023-03-012024-02-2901102789ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2901102789ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2901102789ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2901102789ns10:FullAccounts2023-03-012024-02-2901102789ns10:Director22023-03-012024-02-2901102789ns10:CompanySecretary12023-03-012024-02-2901102789ns10:RegisteredOffice2023-03-012024-02-2901102789ns5:CurrentFinancialInstruments2024-02-2901102789ns5:CurrentFinancialInstruments2023-02-2801102789ns5:ShareCapital2024-02-2901102789ns5:ShareCapital2023-02-2801102789ns5:RetainedEarningsAccumulatedLosses2024-02-2901102789ns5:RetainedEarningsAccumulatedLosses2023-02-2801102789ns5:PlantMachinery2023-03-012024-02-2901102789ns5:PlantMachinery2023-02-2801102789ns5:PlantMachinery2024-02-2901102789ns5:PlantMachinery2023-02-2801102789ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2901102789ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2801102789ns5:WithinOneYear2024-02-2901102789ns5:WithinOneYear2023-02-2801102789ns5:DeferredTaxation2023-02-2801102789ns5:DeferredTaxation2023-03-012024-02-2901102789ns5:DeferredTaxation2024-02-29
REGISTERED NUMBER: 01102789 (England and Wales)





























FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

JAMES SMITH & SONS (UMBRELLAS) LIMITED

JAMES SMITH & SONS (UMBRELLAS) LIMITED (REGISTERED NUMBER: 01102789)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JAMES SMITH & SONS (UMBRELLAS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: R W Harvey
V M Harvey





SECRETARY: R W Harvey





REGISTERED OFFICE: 2nd Floor
17 Short's Gardens
London
WC2H 9AT





REGISTERED NUMBER: 01102789 (England and Wales)





ACCOUNTANTS: Raffan and Golding
Chartered Accountants &
Chartered Tax Advisers
17 Short's Gardens
London
WC2H 9AT

JAMES SMITH & SONS (UMBRELLAS) LIMITED (REGISTERED NUMBER: 01102789)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 6,659 6,554

CURRENT ASSETS
Stocks 347,247 355,520
Debtors 5 6,847 17,029
Cash at bank and in hand 566,101 415,383
920,195 787,932
CREDITORS
Amounts falling due within one year 6 332,718 259,659
NET CURRENT ASSETS 587,477 528,273
TOTAL ASSETS LESS CURRENT
LIABILITIES

594,136

534,827

PROVISIONS FOR LIABILITIES 8 846 554
NET ASSETS 593,290 534,273

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 583,290 524,273
SHAREHOLDERS' FUNDS 593,290 534,273

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 30 November 2024 and were signed on its behalf by:





R W Harvey - Director


JAMES SMITH & SONS (UMBRELLAS) LIMITED (REGISTERED NUMBER: 01102789)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

James Smith & Sons (Umbrellas) 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% 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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

JAMES SMITH & SONS (UMBRELLAS) LIMITED (REGISTERED NUMBER: 01102789)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 March 2023 65,475
Additions 2,291
At 29 February 2024 67,766
DEPRECIATION
At 1 March 2023 58,921
Charge for year 2,186
At 29 February 2024 61,107
NET BOOK VALUE
At 29 February 2024 6,659
At 28 February 2023 6,554

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 6,847 17,029

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Payments on account 16,849 16,476
Trade creditors 56,872 38,023
Taxation and social security 76,490 35,045
Other creditors 182,507 170,115
332,718 259,659

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 52,000 52,000

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 846 554

Deferred tax
£
Balance at 1 March 2023 554
Charge to Income Statement during year 292
Balance at 29 February 2024 846

JAMES SMITH & SONS (UMBRELLAS) LIMITED (REGISTERED NUMBER: 01102789)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £13,282 (2023 - £11,800).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Dividends paid to directors in the year amounted to £26,218.

11. ULTIMATE CONTROLLING PARTY

R W Harvey and V M Harvey, directors, control the company by virtue of a controlling interest of 80% of the issued ordinary share capital.