Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30222023-10-01falseNo description of principal activity15truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03237868 2023-10-01 2024-09-30 03237868 2022-10-01 2023-09-30 03237868 2024-09-30 03237868 2023-09-30 03237868 c:Director2 2023-10-01 2024-09-30 03237868 d:OfficeEquipment 2023-10-01 2024-09-30 03237868 d:OfficeEquipment 2024-09-30 03237868 d:OfficeEquipment 2023-09-30 03237868 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03237868 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-10-01 2024-09-30 03237868 d:ComputerSoftware 2024-09-30 03237868 d:ComputerSoftware 2023-09-30 03237868 d:OtherResidualIntangibleAssets 2023-10-01 2024-09-30 03237868 d:CurrentFinancialInstruments 2024-09-30 03237868 d:CurrentFinancialInstruments 2023-09-30 03237868 d:Non-currentFinancialInstruments 2024-09-30 03237868 d:Non-currentFinancialInstruments 2023-09-30 03237868 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 03237868 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 03237868 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 03237868 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 03237868 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-09-30 03237868 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 03237868 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-09-30 03237868 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 03237868 d:ShareCapital 2024-09-30 03237868 d:ShareCapital 2023-09-30 03237868 d:RetainedEarningsAccumulatedLosses 2024-09-30 03237868 d:RetainedEarningsAccumulatedLosses 2023-09-30 03237868 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-09-30 03237868 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-09-30 03237868 c:FRS102 2023-10-01 2024-09-30 03237868 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 03237868 c:FullAccounts 2023-10-01 2024-09-30 03237868 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03237868 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-10-01 2024-09-30 03237868 2 2023-10-01 2024-09-30 03237868 d:ComputerSoftware d:OwnedIntangibleAssets 2023-10-01 2024-09-30 03237868 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 03237868










SMITH GREENFIELD SERVICES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
SMITH GREENFIELD SERVICES LTD
REGISTERED NUMBER: 03237868

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
74,261
1,514

Tangible assets
 5 
5,468
10,803

  
79,729
12,317

Current assets
  

Debtors: amounts falling due within one year
 6 
497,360
659,779

Cash at bank and in hand
  
587,850
968,467

  
1,085,210
1,628,246

Creditors: amounts falling due within one year
 7 
(761,141)
(907,464)

Net current assets
  
 
 
324,069
 
 
720,782

Total assets less current liabilities
  
403,798
733,099

Creditors: amounts falling due after more than one year
 8 
(7,500)
(17,500)

Provisions for liabilities
  

Deferred tax
  
(18,974)
(1,831)

Other provisions
 10 
(30,357)
(30,357)

  
 
 
(49,331)
 
 
(32,188)

Net assets
  
346,967
683,411


Capital and reserves
  

Called up share capital 
  
108,650
108,650

Profit and loss account
  
238,317
574,761

  
346,967
683,411


Page 1

 
SMITH GREENFIELD SERVICES LTD
REGISTERED NUMBER: 03237868
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A J Smith
Director

Date: 31 December 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SMITH GREENFIELD SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Smith Greenfield Services Ltd is a private limited company limited by shares, incorporated in England with registration number 03237868. The registered office is Fourth Floor, AMP House, Dingwall Road, Croydon, Surrey, CR0 2LX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in streling GBP and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the company’s position at the time of signing the financial statements. They continue to take an active role in the running of the business on a day to day basis and have produced forecasts for the remainder of the financial year and medium term. Whilst producing these forecasts, the directors have considered the financial strength of the Company and the trading performance of the business.
Based on this, the directors have concluded that they have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of signing these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Turnover represents commissions which are recognised on the effective commencement or renewal dates of the related policies. Adjustments arising from returns or additional premiums and amendments are taken into account when they occur

 
2.4

Operating leases: the Company as lessee

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

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
SMITH GREENFIELD SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

  
2.6

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
SMITH GREENFIELD SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Software
-
10
years straight line
Website
-
4
years straight line

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
SMITH GREENFIELD SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.15

Insurance debtors and creditors

The Company acts as an agent in broking insurance risks for its clients. Notwithstanding its legal relationship with clients and insurance companies, the Company has followed generally accepted accounting practices by showing cash, debtors and creditors relating to insurance broking businesses as assets and liabilities of the Company itself.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
SMITH GREENFIELD SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
SMITH GREENFIELD SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2023 - 22).







4.


Intangible assets




Computer software

£



Cost


At 1 October 2023
20,698


Additions
74,100



At 30 September 2024

94,798



Amortisation


At 1 October 2023
19,184


Charge for the year on owned assets
1,353



At 30 September 2024

20,537



Net book value



At 30 September 2024
74,261



At 30 September 2023
1,514



Page 8

 
SMITH GREENFIELD SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Office equipment

£



Cost


At 1 October 2023
30,828


Additions
200


Disposals
(5,387)



At 30 September 2024

25,641



Depreciation


At 1 October 2023
20,025


Charge for the year on owned assets
5,534


Disposals
(5,386)



At 30 September 2024

20,173



Net book value



At 30 September 2024
5,468



At 30 September 2023
10,803


6.


Debtors

2024
2023
£
£


Trade debtors
401,824
643,581

Other debtors
12,057
8,925

Prepayments and accrued income
11,993
7,273

Corporation tax debtor
71,486
-

497,360
659,779


Page 9

 
SMITH GREENFIELD SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,871
9,947

Trade creditors
650,582
721,296

Corporation tax
-
77,426

Other taxation and social security
13,467
16,359

Other creditors
4,497
4,741

Accruals and deferred income
82,724
77,695

761,141
907,464



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,500
17,500

7,500
17,500



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,871
9,947

Amounts falling due 1-2 years

Bank loans
7,500
10,000

Amounts falling due 2-5 years

Bank loans
-
7,500


17,371
27,447


Page 10

 
SMITH GREENFIELD SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Provisions




Dilapidation provision

£





At 1 October 2023
30,357



At 30 September 2024
30,357


11.


Pension commitments

The Company operates a defined contributions 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 £21,874 (2023 - £30,943). Contributions totalling £3,834 (2023 - £4,117) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 11