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REGISTERED NUMBER: 11028316 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

G.F. & G. SMITH LIMITED

G.F. & G. SMITH LIMITED (REGISTERED NUMBER: 11028316)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G.F. & G. SMITH LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2024







DIRECTORS: G F Smith
Mrs G Smith





REGISTERED OFFICE: 35a Harboro Road
Sale
Cheshire
M33 5AN





REGISTERED NUMBER: 11028316 (England and Wales)





ACCOUNTANTS: Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB

G.F. & G. SMITH LIMITED (REGISTERED NUMBER: 11028316)

BALANCE SHEET
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 42,967 47,625

CURRENT ASSETS
Stocks 2,825 2,825
Debtors 6 12,087 -
Cash at bank - 5,083
14,912 7,908
CREDITORS
Amounts falling due within one year 7 20,011 13,397
NET CURRENT LIABILITIES (5,099 ) (5,489 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,868

42,136

CREDITORS
Amounts falling due after more than one year 8 (2,299 ) (11,793 )

PROVISIONS FOR LIABILITIES (10,741 ) (11,906 )
NET ASSETS 24,828 18,437

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 24,826 18,435
SHAREHOLDERS' FUNDS 24,828 18,437

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

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

G.F. & G. SMITH LIMITED (REGISTERED NUMBER: 11028316)

BALANCE SHEET - continued
31 October 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 14 July 2025 and were signed on its behalf by:





G F Smith - Director


G.F. & G. SMITH LIMITED (REGISTERED NUMBER: 11028316)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

G.F. & G. Smith Limited is a private company, limited by shares, registered in England and Wales. The registered office address can be found on the company information page.

2. COMPLIANCE WITH ACCOUNTING STANDARDS

These financial statements have been prepared in compliance with FRS102 Section 1A for small entities. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have also been consistently applied within the same accounts.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Income recognition
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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 taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Hire purchase and leasing commitments
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other intangible assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

G.F. & G. SMITH LIMITED (REGISTERED NUMBER: 11028316)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 28,311 40,432 8,800 5,420 82,963
Additions - - - 38 38
At 31 October 2024 28,311 40,432 8,800 5,458 83,001
DEPRECIATION
At 1 November 2023 - 25,826 6,109 3,403 35,338
Charge for year - 3,651 538 507 4,696
At 31 October 2024 - 29,477 6,647 3,910 40,034
NET BOOK VALUE
At 31 October 2024 28,311 10,955 2,153 1,548 42,967
At 31 October 2023 28,311 14,606 2,691 2,017 47,625

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Other debtors 10,588 -
Prepayments and accrued income 1,499 -
12,087 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 6,633 4,000
Trade creditors 3,013 2,290
Tax 3,726 2,041
Social security and other taxes - 1,202
VAT 4,825 2,141
Other creditors 414 223
Accruals and deferred income 1,400 1,500
20,011 13,397

G.F. & G. SMITH LIMITED (REGISTERED NUMBER: 11028316)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans - 1-2 years 2,299 4,000
Bank loans - 2-5 years - 2,309
Directors Loan Account - 5,484
2,299 11,793