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REGISTERED NUMBER: 00530908 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 January 2025

for

Smith Means Limited

Smith Means Limited (Registered number: 00530908)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Smith Means Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: Mr R J S Means
Mr R S Means





SECRETARY:





REGISTERED OFFICE: Oaks Farm
Pincushion Drove
Outwell
Wisbech
Cambridgeshire
PE14 8QQ





REGISTERED NUMBER: 00530908 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Smith Means Limited (Registered number: 00530908)

Abridged Balance Sheet
31 January 2025

31.1.25 31.1.24
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,607,359 2,701,050
Investments 6 62,312 62,312
2,669,671 2,763,362

CURRENT ASSETS
Stocks 799,787 918,257
Debtors 227,094 357,158
Cash at bank 459,643 10,000
1,486,524 1,285,415
CREDITORS
Amounts falling due within one year 415,566 363,702
NET CURRENT ASSETS 1,070,958 921,713
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,740,629

3,685,075

CREDITORS
Amounts falling due after more than one
year

(214,493

)

(314,460

)

PROVISIONS FOR LIABILITIES 7 (297,798 ) (334,320 )
NET ASSETS 3,228,338 3,036,295

CAPITAL AND RESERVES
Called up share 8 1,291 1,291
Revaluation reserve 9 7,683 7,683
Retained earnings 3,219,364 3,027,321
SHAREHOLDERS' FUNDS 3,228,338 3,036,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

Smith Means Limited (Registered number: 00530908)

Abridged Balance Sheet - continued
31 January 2025


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 Balance Sheet for the year ended 31 January 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 3 April 2025 and were signed on its behalf by:




Mr R J S Means - Director



Mr R S Means - Director


Smith Means Limited (Registered number: 00530908)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Smith Means 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.

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.

Sugar beet entitlement are being amortised evenly over their estimated useful life of nil years.

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 shorter.

Improvements to property 10% straight line
Plant & machinery 25% reducing balance
Fixtures & fittings 25% reducing balance
Motor vehicles 25% reducing balance
Tractors & combines 15% reducing balance

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.

Smith Means Limited (Registered number: 00530908)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2024 2,488
Disposals (2,488 )
At 31 January 2025 -
AMORTISATION
At 1 February 2024 2,488
Eliminated on disposal (2,488 )
At 31 January 2025 -
NET BOOK VALUE

At 31 January 2025 -
At 31 January 2024 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2024 3,945,352
Additions 138,694
Disposals (25,000 )
At 31 January 2025 4,059,046
DEPRECIATION
At 1 February 2024 1,244,302
Charge for year 230,424
Eliminated on disposal (23,039 )
At 31 January 2025 1,451,687
NET BOOK VALUE
At 31 January 2025 2,607,359
At 31 January 2024 2,701,050

Smith Means Limited (Registered number: 00530908)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 February 2024 831,790
Additions 62,362
Transfer to ownership (261,200 )
At 31 January 2025 632,952
DEPRECIATION
At 1 February 2024 54,182
Charge for year 84,729
Transfer to ownership (39,644 )
At 31 January 2025 99,267
NET BOOK VALUE
At 31 January 2025 533,685
At 31 January 2024 777,608

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 February 2024
and 31 January 2025 89,981
PROVISIONS
At 1 February 2024
and 31 January 2025 27,669
NET BOOK VALUE
At 31 January 2025 62,312
At 31 January 2024 62,312

7. PROVISIONS FOR LIABILITIES
31.1.25 31.1.24
£    £   
Deferred tax 297,798 334,320

Deferred
tax
£   
Balance at 1 February 2024 334,320
Movement (36,522 )
Balance at 31 January 2025 297,798

Smith Means Limited (Registered number: 00530908)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

8. CALLED UP SHARE

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.25 31.1.24
value: £    £   
1,291 Ordinary £1.00 1,291 1,291

9. RESERVES
Revaluation
reserve
£   
At 1 February 2024
and 31 January 2025 7,683