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Registered Number: 05401666
England and Wales

 

 

 

SMANN WHOLESALERS LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 38,255    43,444 
38,255    43,444 
Current assets      
Stocks 4 656,500    666,000 
Debtors 5 221,910    176,931 
Cash at bank and in hand 5    4 
878,415    842,935 
Creditors: amount falling due within one year 6 (735,636)   (736,018)
Net current assets 142,779    106,917 
 
Total assets less current liabilities 181,034    150,361 
Provisions for liabilities 7 (535)   (575)
Net assets 180,499    149,786 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 180,399    149,686 
Shareholders' funds 180,499    149,786 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 28 May 2025 and were signed by:


-------------------------------
R S Bhambra
Director
1
General Information
SMANN Wholesalers Limited is a private company, limited by shares, registered in England and Wales, registration number 05401666, registration address 2 Manor Court, Manor Mill Lane, Leeds, LS11 8LQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 20% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees


Average number of employees during the year was 8 (2023 : 8).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £   £
At 01 September 2023 18,000    55,089    70,159    4,725    147,973 
Additions        
Disposals        
At 31 August 2024 18,000    55,089    70,159    4,725    147,973 
Depreciation
At 01 September 2023   53,056    49,789    1,684    104,529 
Charge for year   508    4,073    608    5,189 
On disposals        
At 31 August 2024   53,564    53,862    2,292    109,718 
Net book values
Closing balance as at 31 August 2024 18,000    1,525    16,297    2,433    38,255 
Opening balance as at 01 September 2023 18,000    2,033    20,370    3,041    43,444 


4.

Stocks

2024
£
  2023
£
Stocks 656,500    666,000 
656,500    666,000 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 195,973    151,974 
Other Debtors 25,937    24,957 
221,910    176,931 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 364,779    428,016 
Bank Loans & Overdrafts 212,895    138,664 
Taxation and Social Security 24,259    37,466 
Other Creditors 133,703    131,872 
735,636    736,018 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax   (14)
Pension Provisions 535    589 
535    575 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

9.

Control

The company was under the control of the director in the current and previous period.
10.

Directors Loan

At 31st August 2023, the directors loan account of £120,396 (2023  £128,122) is unsecured, repayable on demand and interest free. During the period the director incurred the following transactions: 
  Balance B/F
£
  Advances
£
  Credits
£
  Balance C/F
£
Directors Loan (128,122) 8,521  (795) (120,396)

11.

Security Note

The bank overdraft is secured against the business assets.
12.

Financial Instruments

The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


2