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REGISTERED NUMBER: 04388358 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Smith International Limited

Smith International Limited (Registered number: 04388358)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Smith International Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr Stuart Mark Smith





REGISTERED OFFICE: C/O Cantelowes Limited
4th Floor
20 Aldermanbury
London
EC2V 7HY





REGISTERED NUMBER: 04388358 (England and Wales)






Smith International Limited (Registered number: 04388358)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,237 1,847
1,237 1,847

CURRENT ASSETS
Debtors 6 205,626 146,325
Cash at bank 122,814 282,941
328,440 429,266
CREDITORS
Amounts falling due within one year 7 109,995 152,457
NET CURRENT ASSETS 218,445 276,809
TOTAL ASSETS LESS CURRENT
LIABILITIES

219,682

278,656

CAPITAL AND RESERVES
Called up share capital 26 26
Retained earnings 219,656 278,630
219,682 278,656

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 20 December 2024 and were signed by:





Mr Stuart Mark Smith - Director


Smith International Limited (Registered number: 04388358)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Smith International 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

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 - 33% on reducing balance

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Smith International Limited (Registered number: 04388358)

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 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 2,500
AMORTISATION
At 1 April 2023
and 31 March 2024 2,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 47,564
DEPRECIATION
At 1 April 2023 45,717
Charge for year 610
At 31 March 2024 46,327
NET BOOK VALUE
At 31 March 2024 1,237
At 31 March 2023 1,847

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 92,785 142,466
Amounts owed by participating interests 109,051 69
Other debtors 3,790 3,790
205,626 146,325

Smith International Limited (Registered number: 04388358)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to participating interests - 1,018
Taxation and social security 57,113 59,256
Other creditors 52,882 92,183
109,995 152,457

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr Stuart Mark Smith
Balance outstanding at start of year (91,024 ) (133,127 )
Amounts advanced 98,255 78,809
Amounts repaid (60,000 ) (36,706 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (52,769 ) (91,024 )

9. RELATED PARTY DISCLOSURES

Included within other debtors is an amount of £108,982 (2023: £1,018 creditor) due from a company which the director has an interest in.

Included within other debtors is an amount of £69 (2023: £69) due from a company which the director has an interest in.