Smith Scientific Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02883009 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2024

for

SMITH SCIENTIFIC LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTORS:

I R Bramley

S White

R M Bramley

O C Bramley

SECRETARY:

Mrs G C Bramley

REGISTERED OFFICE:

Juniper Place

Fircroft Way

Edenbridge

Kent

TN8 6EL

REGISTERED NUMBER:

02883009 (England and Wales)

ACCOUNTANTS:

TC Group

Office: Croydon - TC SWP

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

FIXED ASSETS

Property, plant and equipment

4

25,622

7,863

Investments

5

241,200

266,822

249,063

CURRENT ASSETS

Inventories

2,263,673

2,187,002

Debtors

6

1,590,981

1,597,546

Cash at bank and in hand

571,162

670,395

4,425,816

4,454,943

CREDITORS

Amounts falling due within one year

7

749,457

1,008,936

NET CURRENT ASSETS

3,676,359

3,446,007

TOTAL ASSETS LESS CURRENT LIABILITIES

3,943,181

3,695,070

CAPITAL AND RESERVES

Called up share capital

95,000

Retained earnings

3,848,181

3,600,070

SHAREHOLDERS' FUNDS

3,943,181

3,695,070

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

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

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th September 2025 and were signed on its behalf by:

I R Bramley - Director

1.	STATUTORY INFORMATION

Smith Scientific 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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Inventories 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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Computer

machinery

equipment

Totals

£

COST

At 1st January 2024

133,501

55,120

188,621

Additions

30,204

-

30,204

At 31st December 2024

163,705

55,120

218,825

DEPRECIATION

At 1st January 2024

127,514

53,244

180,758

Charge for year

11,820

625

12,445

At 31st December 2024

139,334

53,869

193,203

NET BOOK VALUE

At 31st December 2024

24,371

1,251

25,622

At 31st December 2023

5,987

1,876

7,863

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2024

and 31st December 2024

241,200

NET BOOK VALUE

At 31st December 2024

241,200

At 31st December 2023

241,200

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

500,806

531,843

Amounts owed by group undertakings

997,396

Other debtors

58,243

53,843

Prepayments and accrued income

34,536

14,464

1,590,981

1,597,546

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

42,051

36,214

Amounts owed to group undertakings

175,776

296,828

Tax

77,400

116,377

Social security and other taxes

158,805

246,356

Other creditors

26,119

25,548

Directors' current accounts

254,885

255,639

Accruals and deferred income

14,421

31,974

749,457

1,008,936

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31st December 2024.

We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.

TC Group

Office: Croydon - TC SWP

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

4th September 2025