Registered number
00271062
G.H. SMITH & SON (FUEL) LIMITED
Filleted Accounts
31 March 2025
G.H. SMITH & SON (FUEL) LIMITED
Registered number: 00271062
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 655,483 655,812
Investments 4 100 100
655,583 655,912
Current assets
Debtors 5 28,775 14,245
Cash at bank and in hand 105,732 99,846
134,507 114,091
Creditors: amounts falling due within one year 6 (105,423) (137,055)
Net current assets/(liabilities) 29,084 (22,964)
Net assets 684,667 632,948
Capital and reserves
Called up share capital 3,672 3,672
Revaluation reserve 7 194,899 194,899
Capital redemption reserve 3,360 3,360
Profit and loss account 482,736 431,017
Shareholders' funds 684,667 632,948
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T. C. Smith
Director
Approved by the board on 1 August 2025
G.H. SMITH & SON (FUEL) LIMITED
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% reducing balance
Fixtures, fittings, tools and equipment 33% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 654,814 20,828 20,995 696,637
At 31 March 2025 654,814 20,828 20,995 696,637
Depreciation
At 1 April 2024 - 20,678 20,147 40,825
Charge for the year - 49 280 329
At 31 March 2025 - 20,727 20,427 41,154
Net book value
At 31 March 2025 654,814 101 568 655,483
At 31 March 2024 654,814 150 848 655,812
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2024 100
At 31 March 2025 100
5 Debtors 2025 2024
£ £
Trade debtors 17,903 7,980
Other debtors 10,872 6,265
28,775 14,245
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 19,176 15,971
Taxation and social security costs - 3,321
Other creditors 86,247 117,763
105,423 137,055
7 Revaluation reserve 2025 2024
£ £
At 1 April 2024 194,899 194,899
At 31 March 2025 194,899 194,899
8 Other information
G.H. SMITH & SON (FUEL) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Buckland Barn
Wadhurst
East Sussex
TN5 6QT
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