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REGISTERED NUMBER: 05121737 (England and Wales)




























Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Richard Smythe Limited

Richard Smythe Limited (Registered number: 05121737)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Richard Smythe Limited

Company Information
for the year ended 31 August 2024







DIRECTORS: R P Smythe
Mrs J C Smythe





SECRETARY: Mrs J C Smythe





REGISTERED OFFICE: The Crown Business Centre
10 High Street
Otford
Sevenoaks
Kent
TN14 5PQ





REGISTERED NUMBER: 05121737 (England and Wales)





ACCOUNTANTS: Porritt Rainey
The Crown Business Centre
10 High Street
Otford
Sevenoaks
Kent
TN14 5PQ

Richard Smythe Limited (Registered number: 05121737)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 630,786 657,264
630,786 657,264

CURRENT ASSETS
Debtors 6 97,251 114,230
Cash at bank and in hand 173,775 161,213
271,026 275,443
CREDITORS
Amounts falling due within one year 7 (309,690 ) (282,673 )
NET CURRENT LIABILITIES (38,664 ) (7,230 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

592,122

650,034

CREDITORS
Amounts falling due after more than one year 8 (83,505 ) (127,753 )

PROVISIONS FOR LIABILITIES (91,157 ) (98,282 )
NET ASSETS 417,460 423,999

CAPITAL AND RESERVES
Called up share capital 60,306 60,000
Retained earnings 357,154 363,999
SHAREHOLDERS' FUNDS 417,460 423,999

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

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

Richard Smythe Limited (Registered number: 05121737)

Statement of Financial Position - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2025 and were signed on its behalf by:





Mrs J C Smythe - Director


Richard Smythe Limited (Registered number: 05121737)

Notes to the Financial Statements
for the year ended 31 August 2024


1. STATUTORY INFORMATION

Richard Smythe 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.

Computer software is being amortised evenly over its 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 the shorter.
Plant and machinery etc - 50% on cost, 25% on cost, 20% on cost and 10% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 14 ) .

Richard Smythe Limited (Registered number: 05121737)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2023
and 31 August 2024 35,975
AMORTISATION
At 1 September 2023
and 31 August 2024 35,975
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 405,000 599,008 1,004,008
DEPRECIATION
At 1 September 2023 - 346,744 346,744
Charge for year - 26,478 26,478
At 31 August 2024 - 373,222 373,222
NET BOOK VALUE
At 31 August 2024 405,000 225,786 630,786
At 31 August 2023 405,000 252,264 657,264

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

Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 320,177
DEPRECIATION
At 1 September 2023 83,191
Charge for year 23,445
At 31 August 2024 106,636
NET BOOK VALUE
At 31 August 2024 213,541
At 31 August 2023 236,986

Richard Smythe Limited (Registered number: 05121737)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 83,396 92,564
Other debtors 13,855 21,666
97,251 114,230

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,851 1,298
Hire purchase contracts and finance leases 34,869 61,705
Trade creditors 150,979 126,646
Taxation and social security 80,331 76,644
Other creditors 37,660 16,380
309,690 282,673

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases 83,505 127,753