Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-30truefalse2023-12-01No description of principal activity78falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03137944 2023-12-01 2024-11-30 03137944 2022-12-01 2023-11-30 03137944 2024-11-30 03137944 2023-11-30 03137944 c:Director1 2023-12-01 2024-11-30 03137944 c:RegisteredOffice 2023-12-01 2024-11-30 03137944 d:Buildings d:ShortLeaseholdAssets 2023-12-01 2024-11-30 03137944 d:Buildings d:ShortLeaseholdAssets 2024-11-30 03137944 d:Buildings d:ShortLeaseholdAssets 2023-11-30 03137944 d:PlantMachinery 2023-12-01 2024-11-30 03137944 d:PlantMachinery 2024-11-30 03137944 d:PlantMachinery 2023-11-30 03137944 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03137944 d:MotorVehicles 2023-12-01 2024-11-30 03137944 d:MotorVehicles 2024-11-30 03137944 d:MotorVehicles 2023-11-30 03137944 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03137944 d:FurnitureFittings 2023-12-01 2024-11-30 03137944 d:FurnitureFittings 2024-11-30 03137944 d:FurnitureFittings 2023-11-30 03137944 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03137944 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03137944 d:CurrentFinancialInstruments 2024-11-30 03137944 d:CurrentFinancialInstruments 2023-11-30 03137944 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 03137944 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 03137944 d:ShareCapital 2024-11-30 03137944 d:ShareCapital 2023-11-30 03137944 d:OtherMiscellaneousReserve 2024-11-30 03137944 d:OtherMiscellaneousReserve 2023-11-30 03137944 d:RetainedEarningsAccumulatedLosses 2024-11-30 03137944 d:RetainedEarningsAccumulatedLosses 2023-11-30 03137944 c:FRS102 2023-12-01 2024-11-30 03137944 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 03137944 c:FullAccounts 2023-12-01 2024-11-30 03137944 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 03137944 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure
Company registration number: 03137944







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2024


SMITH & SON LIMITED






































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SMITH & SON LIMITED
 


 
COMPANY INFORMATION


Director
P R Smith 




Registered number
03137944



Registered office
P55 Western International Market
Hayes Road

Southall

Middlesex

UB2 5XJ




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


SMITH & SON LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


SMITH & SON LIMITED
REGISTERED NUMBER:03137944



STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
58,746
169,613

  
58,746
169,613

Current assets
  

Stocks
  
21,816
17,425

Debtors: amounts falling due within one year
 5 
379,203
235,892

Cash at bank and in hand
  
346,060
205,542

  
747,079
458,859

Creditors: amounts falling due within one year
 6 
(212,428)
(114,756)

Net current assets
  
 
 
534,651
 
 
344,103

Total assets less current liabilities
  
593,397
513,716

Provisions for liabilities
  

Deferred tax
  
-
(449)

  
 
 
-
 
 
(449)

Net assets
  
593,397
513,267


Capital and reserves
  

Called up share capital 
  
130
130

Other reserves
  
50
50

Profit and loss account
  
593,217
513,087

  
593,397
513,267


Page 1

 


SMITH & SON LIMITED
REGISTERED NUMBER:03137944


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P R Smith
Director

Date: 23 June 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


SMITH & SON LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Smith & Son Limited is a private company, limited by shares, registerd in England & Wales. The company's registered number and registered office address can be found on the Company Information page. 
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going convern basis, no significant judgements or estimates have been adopted by management in assessing the going concern basis.

 
2.3

Turnover

Turover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


SMITH & SON LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below.

Depreciation is provided on the following basis:

Short-term leasehold property
-
2%
Straight line
Plant and machinery
-
25%
Reducing balance
Motor vehicles
-
15%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 


SMITH & SON LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 8).

Page 5

 


SMITH & SON LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 December 2023
59,611
161,353
81,138
13,690
315,792


Additions
-
-
10,000
-
10,000


Disposals
-
(90,627)
(81,138)
-
(171,765)



At 30 November 2024

59,611
70,726
10,000
13,690
154,027



Depreciation


At 1 December 2023
18,642
116,509
2,028
9,000
146,179


Charge for the year on owned assets
1,192
11,211
12,866
1,172
26,441


Disposals
-
(63,445)
(13,894)
-
(77,339)



At 30 November 2024

19,834
64,275
1,000
10,172
95,281



Net book value



At 30 November 2024
39,777
6,451
9,000
3,518
58,746



At 30 November 2023
40,969
44,844
79,110
4,690
169,613


5.


Debtors

2024
2023
£
£


Trade debtors
345,297
207,222

Other debtors
32,147
27,020

Prepayments and accrued income
1,759
1,650

379,203
235,892


Page 6

 


SMITH & SON LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
118,860
61,123

Corporation tax
67,261
26,598

Other taxation and social security
5,270
6,855

Other creditors
14,037
830

Accruals and deferred income
7,000
19,350

212,428
114,756



7.


Pension commitments

At the year end the company had unpaid pension contributions of £1,071 (2023 - £938).

 
Page 7