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REGISTERED NUMBER: 09689291 (England and Wales)





























Unaudited Financial Statements for the Year Ended 30 September 2024

for

Smith Metals (Bolton) Limited

Smith Metals (Bolton) Limited (Registered number: 09689291)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smith Metals (Bolton) Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr J A Wilson
Mrs J N Wilson



REGISTERED OFFICE: Darbishire Street
Off Waterloo Road
Bolton
Lancashire
BL1 2TN



REGISTERED NUMBER: 09689291 (England and Wales)



ACCOUNTANTS: DonnellyBentley Limited
Chartered Accountants
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY



BANKERS: The National Westminster Bank plc
P O Box 120
Ashton House
Waterloo Street
BOLTON
Lancashire
BL1 8HG

Smith Metals (Bolton) Limited (Registered number: 09689291)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 69,454 148,943
Tangible assets 5 620,869 760,831
Investments 6 1 2
Investment property 7 64,889 64,889
755,213 974,665

CURRENT ASSETS
Stocks 90,661 70,725
Debtors 8 858,756 924,159
Cash at bank 391,158 421,562
1,340,575 1,416,446
CREDITORS
Amounts falling due within one year 9 (1,101,732 ) (1,066,816 )
NET CURRENT ASSETS 238,843 349,630
TOTAL ASSETS LESS CURRENT
LIABILITIES

994,056

1,324,295

CREDITORS
Amounts falling due after more than one
year

10

(43,166

)

(47,024

)

PROVISIONS FOR LIABILITIES (153,720 ) (125,025 )
NET ASSETS 797,170 1,152,246

CAPITAL AND RESERVES
Called up share capital 13 25,000 25,000
Retained earnings 772,170 1,127,246
SHAREHOLDERS' FUNDS 797,170 1,152,246

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

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

Smith Metals (Bolton) Limited (Registered number: 09689291)

Balance Sheet - continued
30 September 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2025 and were signed on its behalf by:





Mr J A Wilson - Director


Smith Metals (Bolton) Limited (Registered number: 09689291)

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

1. STATUTORY INFORMATION

Smith Metals (Bolton) 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below.

Preparation of consolidated financial statements
The financial statements contain information about Smith Metals (Bolton) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty
Preparation of the financial statements requires management to make significant
judgements and estimates. The items in the financial statements where these judgments
and estimates have been made include: Depreciation policies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods :

Turnover from the sale of scrap metal is recognised on delivery and when the customer has agreed the weight of the scrap metal being sold.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

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.

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.
Long leasehold - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Smith Metals (Bolton) Limited (Registered number: 09689291)

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

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Statement of Income and Retained Earnings, 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.

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.

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.

Going concern
The financial statements have been prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 24 ) .

Smith Metals (Bolton) Limited (Registered number: 09689291)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 794,882
AMORTISATION
At 1 October 2023 645,939
Amortisation for year 79,489
At 30 September 2024 725,428
NET BOOK VALUE
At 30 September 2024 69,454
At 30 September 2023 148,943

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2023 302,100 334,371 36,480 803,640 1,476,591
Additions - 26,195 3,265 307,094 336,554
Disposals (302,100 ) - - (255,990 ) (558,090 )
At 30 September 2024 - 360,566 39,745 854,744 1,255,055
DEPRECIATION
At 1 October 2023 47,740 172,553 31,663 463,804 715,760
Charge for year 1,006 50,304 1,464 131,221 183,995
Eliminated on disposal (48,746 ) - - (216,823 ) (265,569 )
At 30 September 2024 - 222,857 33,127 378,202 634,186
NET BOOK VALUE
At 30 September 2024 - 137,709 6,618 476,542 620,869
At 30 September 2023 254,360 161,818 4,817 339,836 760,831

Smith Metals (Bolton) Limited (Registered number: 09689291)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023 365,040
Additions 43,999
Transfer to ownership (152,750 )
At 30 September 2024 256,289
DEPRECIATION
At 1 October 2023 187,276
Charge for year 46,124
Transfer to ownership (140,021 )
At 30 September 2024 93,379
NET BOOK VALUE
At 30 September 2024 162,910
At 30 September 2023 177,764

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023 2
Disposals (1 )
At 30 September 2024 1
NET BOOK VALUE
At 30 September 2024 1
At 30 September 2023 2

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 64,889
NET BOOK VALUE
At 30 September 2024 64,889
At 30 September 2023 64,889

Smith Metals (Bolton) Limited (Registered number: 09689291)

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

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 355,572 412,214
Amounts owed by group undertakings 472,861 490,061
Prepayments 30,323 21,884
858,756 924,159

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 11) 33,775 76,649
Trade creditors 629,318 507,087
Tax 29,011 70,567
Social security and other taxes 21,377 19,142
VAT 62,885 56,886
Other creditors 12,588 1,596
Accrued expenses 312,778 334,889
1,101,732 1,066,816

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 11) 43,166 47,024

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 33,775 76,649
Between one and five years 43,166 47,024
76,941 123,673

Non-cancellable operating leases
2024 2023
£    £   
Within one year 50,395 51,660
Between one and five years 24,798 36,900
75,193 88,560

Smith Metals (Bolton) Limited (Registered number: 09689291)

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

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 76,941 123,673

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
25,000 Ordinary shares £1 25,000 25,000