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REGISTERED NUMBER: 01373976 (England and Wales)















S.H. Skidmore & Sons Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024






S.H. Skidmore & Sons Limited (Registered number: 01373976)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


S.H. Skidmore & Sons Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: B W Skidmore
M J Skidmore



REGISTERED OFFICE: 128 High Street
Worle
WESTON-SUPER-MARE
North Somerset
BS22 6HE



REGISTERED NUMBER: 01373976 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Barclays Bank plc
26/30 Regent Street
Weston-Super-Mare
North Somerset
BS23 1SH

S.H. Skidmore & Sons Limited (Registered number: 01373976)

Abridged Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 351,683 371,600
Investment property 6 220,000 220,000
571,683 591,600

CURRENT ASSETS
Stocks 50,145 57,769
Debtors 136,224 126,316
Cash at bank 240,846 292,785
427,215 476,870
CREDITORS
Amounts falling due within one year 228,349 200,742
NET CURRENT ASSETS 198,866 276,128
TOTAL ASSETS LESS CURRENT
LIABILITIES

770,549

867,728

CREDITORS
Amounts falling due after more than one year (42,065 ) (71,034 )

PROVISIONS FOR LIABILITIES (12,370 ) (11,224 )
NET ASSETS 716,114 785,470

CAPITAL AND RESERVES
Called up share capital 824 824
Investment property revaluation reserve 8 102,582 102,582
Retained earnings 612,708 682,064
SHAREHOLDERS' FUNDS 716,114 785,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

S.H. Skidmore & Sons Limited (Registered number: 01373976)

Abridged Statement of Financial Position - continued
30 June 2024


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





B W Skidmore - Director


S.H. Skidmore & Sons Limited (Registered number: 01373976)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

S.H. Skidmore & Sons 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 50% on reducing balance, 25% on reducing balance, 15% on reducing balance and over life of lease

Investment property
Investment property is included at fair value. Where applicable, gains and losses are recognised within the income statement and recognised in a separate, non-distributable reserve.

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 statement of financial position date.


S.H. Skidmore & Sons Limited (Registered number: 01373976)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. ACCOUNTING POLICIES - continued
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.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 703,186
Additions 9,237
At 30 June 2024 712,423
DEPRECIATION
At 1 July 2023 331,586
Charge for year 29,154
At 30 June 2024 360,740
NET BOOK VALUE
At 30 June 2024 351,683
At 30 June 2023 371,600

Included in cost of land and buildings is freehold land of £ 10,000 (2023 - £ 10,000 ) which is not depreciated.

S.H. Skidmore & Sons Limited (Registered number: 01373976)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Totals
£   
COST
At 1 July 2023
and 30 June 2024 114,444
DEPRECIATION
At 1 July 2023 49,268
Charge for year 16,294
At 30 June 2024 65,562
NET BOOK VALUE
At 30 June 2024 48,882
At 30 June 2023 65,176

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 220,000
NET BOOK VALUE
At 30 June 2024 220,000
At 30 June 2023 220,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2004 43,276
Valuation in 2011 10,000
Valuation in 2021 60,000
Cost 106,724
220,000

If Investment property had not been revalued it would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 106,724 106,724

Investment property was valued on an open market basis on 30 June 2024 by the directors of the company. .

S.H. Skidmore & Sons Limited (Registered number: 01373976)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Finance leases 71,034 84,706

Lease purchase agreements are secured on the specific assets financed.

8. RESERVES
Investment
property
revaluation
reserve
£   
At 1 July 2023
and 30 June 2024 102,582

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is BW and MJ Skidmore.

The company was controlled throughout the current and previous periods by the above directors by virtue of the fact that, between them, they own the majority of the company's ordinary share capital.