IRIS Accounts Production v25.1.4.42 01098427 Board of Directors 1.4.24 31.3.25 31.3.25 false true false false true false Fair value model Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh010984272024-03-31010984272025-03-31010984272024-04-012025-03-31010984272023-03-31010984272023-04-012024-03-31010984272024-03-3101098427ns15:EnglandWales2024-04-012025-03-3101098427ns14:PoundSterling2024-04-012025-03-3101098427ns10:Director12024-04-012025-03-3101098427ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3101098427ns10:SmallEntities2024-04-012025-03-3101098427ns10:AuditExempt-NoAccountantsReport2024-04-012025-03-3101098427ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-3101098427ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-3101098427ns10:FullAccounts2024-04-012025-03-3101098427ns10:OrdinaryShareClass22024-04-012025-03-3101098427ns10:OrdinaryShareClass32024-04-012025-03-3101098427ns10:Director32024-04-012025-03-3101098427ns10:CompanySecretary12024-04-012025-03-3101098427ns10:RegisteredOffice2024-04-012025-03-3101098427ns5:CurrentFinancialInstruments2025-03-3101098427ns5:CurrentFinancialInstruments2024-03-3101098427ns5:Non-currentFinancialInstruments2025-03-3101098427ns5:Non-currentFinancialInstruments2024-03-3101098427ns5:ShareCapital2025-03-3101098427ns5:ShareCapital2024-03-3101098427ns5:RevaluationReserve2025-03-3101098427ns5:RevaluationReserve2024-03-3101098427ns5:RetainedEarningsAccumulatedLosses2025-03-3101098427ns5:RetainedEarningsAccumulatedLosses2024-03-3101098427ns5:LandBuildingsns5:ShortLeaseholdAssets2024-04-012025-03-3101098427ns5:PlantMachinery2024-04-012025-03-3101098427ns5:FurnitureFittings2024-04-012025-03-3101098427ns5:MotorVehicles2024-04-012025-03-3101098427ns5:ComputerEquipment2024-04-012025-03-3101098427ns5:LandBuildings2024-03-3101098427ns5:PlantMachinery2024-03-3101098427ns5:LandBuildings2024-04-012025-03-3101098427ns5:LandBuildings2025-03-3101098427ns5:PlantMachinery2025-03-3101098427ns5:LandBuildings2024-03-3101098427ns5:PlantMachinery2024-03-3101098427ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3101098427ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3101098427ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2025-03-3101098427ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3101098427ns10:OrdinaryShareClass22025-03-3101098427ns10:OrdinaryShareClass32025-03-31
REGISTERED NUMBER: 01098427 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

G. E. SMITH LIMITED

G. E. SMITH LIMITED (REGISTERED NUMBER: 01098427)






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


G. E. SMITH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: P M Smith
P Smith





SECRETARY: P M Smith





REGISTERED OFFICE: 34 Derwent Road
York Road Industrial Estate
Malton
North Yorkshire
YO17 6YB





REGISTERED NUMBER: 01098427 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

G. E. SMITH LIMITED (REGISTERED NUMBER: 01098427)

BALANCE SHEET
31 MARCH 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 561,422 708,767
Investment property 5 125,000 125,000
686,422 833,767

CURRENT ASSETS
Stocks 31,324 5,138
Debtors 6 351,435 423,089
Cash at bank and in hand 124,394 38,583
507,153 466,810
CREDITORS
Amounts falling due within one year 7 442,543 527,691
NET CURRENT ASSETS/(LIABILITIES) 64,610 (60,881 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

751,032

772,886

CREDITORS
Amounts falling due after more than one
year

8

(208,906

)

(267,764

)

PROVISIONS FOR LIABILITIES (112,837 ) (102,369 )
NET ASSETS 429,289 402,753

CAPITAL AND RESERVES
Called up share capital 10 20,000 20,000
Revaluation reserve (1,572 ) (1,572 )
Retained earnings 410,861 384,325
SHAREHOLDERS' FUNDS 429,289 402,753

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.

G. E. SMITH LIMITED (REGISTERED NUMBER: 01098427)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2025 and were signed on its behalf by:





P M Smith - Director


G. E. SMITH LIMITED (REGISTERED NUMBER: 01098427)

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

1. STATUTORY INFORMATION

G. E. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is derived from transport services and is recognised on the satisfaction of the delivery of these services to customers.

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.
Short leasehold - 4% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair values are recognised in the statement of income and retained earnings in the relevant period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

G. E. SMITH LIMITED (REGISTERED NUMBER: 01098427)

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

2. ACCOUNTING POLICIES - continued

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 the statement of income and retained earnings over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company has implemented an auto-enrolment pension scheme in respect of all employees. Contributions payable to the company's pension scheme are charged to the statement of income and retained earnings in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 22 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2024 85,280 2,218,248 2,303,528
Additions - 15,150 15,150
Disposals - (239,500 ) (239,500 )
At 31 March 2025 85,280 1,993,898 2,079,178
DEPRECIATION
At 1 April 2024 85,170 1,509,591 1,594,761
Charge for year 110 149,611 149,721
Eliminated on disposal - (226,726 ) (226,726 )
At 31 March 2025 85,280 1,432,476 1,517,756
NET BOOK VALUE
At 31 March 2025 - 561,422 561,422
At 31 March 2024 110 708,657 708,767

The net book value of tangible fixed assets includes £ 178,093 (2024 - £ 312,473 ) in respect of assets held under hire purchase contracts.

G. E. SMITH LIMITED (REGISTERED NUMBER: 01098427)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024
and 31 March 2025 125,000
NET BOOK VALUE
At 31 March 2025 125,000
At 31 March 2024 125,000

Fair value at 31 March 2025 is represented by:
£   
Valuation in 2016 (26,572 )
Valuation in 2021 25,000
Cost 126,572
125,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.25 31.3.24
£    £   
Cost 126,572 126,572

Investment property was valued on an open market basis on 31 March 2025 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 303,438 376,202
Other debtors 47,997 46,887
351,435 423,089

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Hire purchase contracts 58,858 81,730
Trade creditors 153,915 164,739
Taxation and social security 66,617 91,427
Other creditors 163,153 189,795
442,543 527,691

G. E. SMITH LIMITED (REGISTERED NUMBER: 01098427)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Hire purchase contracts 88,906 147,764
Other creditors 120,000 120,000
208,906 267,764

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 120,000 120,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.25 31.3.24
£    £   
Hire purchase contracts 147,764 229,494

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.25 31.3.24
value: £    £   
5,000 Ordinary A £1 5,000 5,000
15,000 Ordinary B £1 15,000 15,000
20,000 20,000