Company registration number 11843750 (England and Wales)
OLIVER SMITH CONTRACTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
OLIVER SMITH CONTRACTING LIMITED
COMPANY INFORMATION
Director
Mr O J Smith
Company number
11843750
Registered office
Moreton House
31 High Street
Buckingham
Buckinghamshire
United Kingdom
MK18 1NU
Accountants
Xeinadin
Moreton House
31 High Street
Buckingham
Buckinghamshire
UK
MK18 1NU
OLIVER SMITH CONTRACTING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
OLIVER SMITH CONTRACTING LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,618
7,491
Current assets
Stocks
750
500
Debtors
4
14,530
15,059
Cash at bank and in hand
3,923
3,573
19,203
19,132
Creditors: amounts falling due within one year
5
(14,623)
(12,908)
Net current assets
4,580
6,224
Total assets less current liabilities
10,198
13,715
Creditors: amounts falling due after more than one year
6
(3,734)
(8,201)
Provisions for liabilities
(1,067)
(1,423)
Net assets
5,397
4,091
Capital and reserves
Called up share capital
11
11
Profit and loss reserves
5,386
4,080
Total equity
5,397
4,091
OLIVER SMITH CONTRACTING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2025
28 February 2025
- 2 -
For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 14 August 2025
Mr O J Smith
Director
Company registration number 11843750 (England and Wales)
OLIVER SMITH CONTRACTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -
1
Accounting policies
Company information
Oliver Smith Contracting Limited is a private company limited by shares incorporated in England and Wales. The registered office is Moreton House, 31 High Street, Buckingham, Buckinghamshire, United Kingdom, MK18 1NU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
Computers
25% Reducing Balance
Motor vehicles
25% Reducing Balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
OLIVER SMITH CONTRACTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Leases
As lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 March 2024 and 28 February 2025
901
1,961
23,140
26,002
Depreciation and impairment
At 1 March 2024
643
1,444
16,424
18,511
Depreciation charged in the year
65
129
1,679
1,873
At 28 February 2025
708
1,573
18,103
20,384
Carrying amount
At 28 February 2025
193
388
5,037
5,618
At 29 February 2024
258
517
6,716
7,491
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
4,116
3,860
Other debtors
10,414
11,199
14,530
15,059
OLIVER SMITH CONTRACTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
6,817
5,309
Taxation and social security
7,616
7,409
Other creditors
190
190
14,623
12,908
6
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
2,500
4,500
Obligations under finance leases
1,234
3,701
3,734
8,201