2023-06-012024-05-312024-05-31false06913377D.W. SMITH SERVICES 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D.W. SMITH SERVICES LTD

Registered Number
06913377
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

D.W. SMITH SERVICES LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

SMITH, David William

Company Secretary

ARLINGTON ACCOUNTANTS LTD

Registered Address

12 Vectis Road
Barton On Sea
New Milton
BH25 7QF

Registered Number

06913377 (England and Wales)
D.W. SMITH SERVICES LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets332,25429,274
32,25429,274
Current assets
Stocks-45,969
Debtors4510,663431,162
Cash at bank and on hand59,74630,864
570,409507,995
Creditors amounts falling due within one year5(529,133)(306,812)
Net current assets (liabilities)41,276201,183
Total assets less current liabilities73,530230,457
Creditors amounts falling due after one year6(16,685)(222,152)
Net assets56,8458,305
Capital and reserves
Called up share capital1010
Profit and loss account56,8358,295
Shareholders' funds56,8458,305
The financial statements were approved and authorised for issue by the Director on 18 December 2024, and are signed on its behalf by:
SMITH, David William
Director
Registered Company No. 06913377
D.W. SMITH SERVICES LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-5
Vehicles20-
Office Equipment-5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 June 2344,353
Additions10,500
At 31 May 2454,853
Depreciation and impairment
At 01 June 2315,079
Charge for year7,520
At 31 May 2422,599
Net book value
At 31 May 2432,254
At 31 May 2329,274
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables329,360290,490
Other debtors181,303140,672
Total510,663431,162
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables318,515133,554
Bank borrowings and overdrafts66,65870,616
Amounts owed to related parties12,74427,193
Taxation and social security23,45332,674
Finance lease and HP contracts6,1708,227
Other creditors97,93431,202
Accrued liabilities and deferred income3,6593,346
Total529,133306,812
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts16,68526,682
Other creditors-195,470
Total16,685222,152
Long term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts-6,170