Richard Smith (Bilbrook) Limited 07021935 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is Veterinary Surgery Digita Accounts Production Advanced 6.30.9574.0 true 07021935 2024-01-01 2024-12-31 07021935 2024-12-31 07021935 core:RetainedEarningsAccumulatedLosses 2024-12-31 07021935 core:ShareCapital 2024-12-31 07021935 core:CurrentFinancialInstruments 2024-12-31 07021935 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 07021935 core:Goodwill 2024-12-31 07021935 core:FurnitureFittingsToolsEquipment 2024-12-31 07021935 bus:SmallEntities 2024-01-01 2024-12-31 07021935 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 07021935 bus:FilletedAccounts 2024-01-01 2024-12-31 07021935 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07021935 bus:RegisteredOffice 2024-01-01 2024-12-31 07021935 bus:Director1 2024-01-01 2024-12-31 07021935 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07021935 bus:Agent1 2024-01-01 2024-12-31 07021935 core:Goodwill 2024-01-01 2024-12-31 07021935 core:FurnitureFittings 2024-01-01 2024-12-31 07021935 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 07021935 countries:EnglandWales 2024-01-01 2024-12-31 07021935 2023-12-31 07021935 core:Goodwill 2023-12-31 07021935 core:FurnitureFittingsToolsEquipment 2023-12-31 07021935 2023-01-01 2023-12-31 07021935 2023-12-31 07021935 core:RetainedEarningsAccumulatedLosses 2023-12-31 07021935 core:ShareCapital 2023-12-31 07021935 core:CurrentFinancialInstruments 2023-12-31 07021935 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07021935 core:Goodwill 2023-12-31 07021935 core:FurnitureFittingsToolsEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 07021935

Richard Smith (Bilbrook) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Richard Smith (Bilbrook) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Richard Smith (Bilbrook) Limited

Company Information

Director

Mr R W Smith

Registered office

7 Lane Green Shopping Parade
Duck Lane
Codsall
Wolverhampton
WV8 1JA

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Richard Smith (Bilbrook) Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Richard Smith (Bilbrook) Limited for the year ended 31 December 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Richard Smith (Bilbrook) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Richard Smith (Bilbrook) Limited and state those matters that we have agreed to state to the Board of Directors of Richard Smith (Bilbrook) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Richard Smith (Bilbrook) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Richard Smith (Bilbrook) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Richard Smith (Bilbrook) Limited. You consider that Richard Smith (Bilbrook) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Richard Smith (Bilbrook) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

Date:.............................

 

Richard Smith (Bilbrook) Limited

(Registration number: 07021935)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3

54,783

65,740

Tangible assets

4

40,073

23,251

 

94,856

88,991

Current assets

 

Stocks

5

14,472

19,084

Debtors

6

5,187

3,445

Cash at bank and in hand

 

877,102

605,331

 

896,761

627,860

Creditors: Amounts falling due within one year

7

(188,094)

(156,057)

Net current assets

 

708,667

471,803

Total assets less current liabilities

 

803,523

560,794

Provisions for liabilities

(10,018)

(5,813)

Net assets

 

793,505

554,981

Capital and reserves

 

Called up share capital

100

100

Retained earnings

793,405

554,881

Shareholders' funds

 

793,505

554,981

 

Richard Smith (Bilbrook) Limited

(Registration number: 07021935)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 May 2025

.........................................
Mr R W Smith
Director

   
 

Richard Smith (Bilbrook) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 20 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Richard Smith (Bilbrook) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 8).

3

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

219,138

219,138

At 31 December 2024

219,138

219,138

Amortisation

At 1 January 2024

153,398

153,398

Amortisation charge

10,957

10,957

At 31 December 2024

164,355

164,355

Carrying amount

At 31 December 2024

54,783

54,783

At 31 December 2023

65,740

65,740

 

Richard Smith (Bilbrook) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

62,048

62,048

Additions

23,895

23,895

At 31 December 2024

85,943

85,943

Depreciation

At 1 January 2024

38,797

38,797

Charge for the year

7,073

7,073

At 31 December 2024

45,870

45,870

Carrying amount

At 31 December 2024

40,073

40,073

At 31 December 2023

23,251

23,251

5

Stocks

2024
£

2023
£

Other inventories

14,472

19,084

6

Debtors

2024
£

2023
£

Prepayments

1,096

558

Other debtors

4,091

2,887

5,187

3,445

 

Richard Smith (Bilbrook) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

35,968

31,674

Taxation and social security

139,281

108,822

Accruals and deferred income

5,950

2,930

Other creditors

6,895

12,631

188,094

156,057