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REGISTERED NUMBER: 08965043 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

A B SMITH LIMITED

A B SMITH LIMITED (REGISTERED NUMBER: 08965043)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A B SMITH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: A B Smith
B A Smith





REGISTERED OFFICE: 52 Hawkwell Road
Hockley
Essex
SS5 4DA





REGISTERED NUMBER: 08965043 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

A B SMITH LIMITED (REGISTERED NUMBER: 08965043)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 128,756 108,049

CURRENT ASSETS
Stocks 4,120 20,295
Debtors 5 240,866 96,099
Cash at bank - 3,773
244,986 120,167
CREDITORS
Amounts falling due within one year 6 179,737 103,669
NET CURRENT ASSETS 65,249 16,498
TOTAL ASSETS LESS CURRENT
LIABILITIES

194,005

124,547

CREDITORS
Amounts falling due after more than one
year

7

28,501

18,105
NET ASSETS 165,504 106,442

CAPITAL AND RESERVES
Called up share capital 11 11
Retained earnings 10 165,493 106,431
SHAREHOLDERS' FUNDS 165,504 106,442

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

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

A B SMITH LIMITED (REGISTERED NUMBER: 08965043)

BALANCE SHEET - continued
31 MARCH 2025


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 3 June 2025 and were signed on its behalf by:





A B Smith - Director


A B SMITH LIMITED (REGISTERED NUMBER: 08965043)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

A B Smith 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.

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 & machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

A B SMITH LIMITED (REGISTERED NUMBER: 08965043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant & Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2024 69,365 123,499 4,047 196,911
Additions 18,046 61,190 2,275 81,511
Disposals - (30,570 ) - (30,570 )
At 31 March 2025 87,411 154,119 6,322 247,852
DEPRECIATION
At 1 April 2024 33,813 51,528 3,521 88,862
Charge for year 13,402 28,993 1,214 43,609
Eliminated on disposal - (13,375 ) - (13,375 )
At 31 March 2025 47,215 67,146 4,735 119,096
NET BOOK VALUE
At 31 March 2025 40,196 86,973 1,587 128,756
At 31 March 2024 35,552 71,971 526 108,049

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2024 57,759
Additions 40,190
Disposals (30,570 )
At 31 March 2025 67,379
DEPRECIATION
At 1 April 2024 29,094
Charge for year 12,916
Eliminated on disposal (13,375 )
At 31 March 2025 28,635
NET BOOK VALUE
At 31 March 2025 38,744
At 31 March 2024 28,665

A B SMITH LIMITED (REGISTERED NUMBER: 08965043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 201,304 70,277
Other debtors 14,527 -
VAT 15,385 14,947
Prepayments 9,650 10,875
240,866 96,099

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 33,584 10,335
Hire purchase contracts (see note 8) 12,393 8,987
Trade creditors 12,849 9,817
Tax 52,648 43,771
Social security and other taxes 7,642 4,341
Other creditors 5,502 -
Directors' current accounts 23,600 22,960
Deferred income 27,600 -
Accrued expenses 3,919 3,458
179,737 103,669

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Other loans 3,489 13,780
Hire purchase contracts (see note 8) 25,012 4,325
28,501 18,105

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2025 2024
£    £   
Net obligations repayable:
Within one year 12,393 8,987
Between one and five years 25,012 4,325
37,405 13,312

A B SMITH LIMITED (REGISTERED NUMBER: 08965043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2025 2024
£    £   
Within one year 29,499 -
Between one and five years 49,165 -
78,664 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Hire purchase contracts 37,405 13,312

The hire purchase contracts are secured against the assets to which they relate.

10. RESERVES
Retained
earnings
£   

At 1 April 2024 106,431
Profit for the year 171,062
Dividends (112,000 )
At 31 March 2025 165,493