Registration number: 07030589

Smiths Building Limited

Contents

Company Information	1
Statement of Directors' Responsibilities	2
Abridged Balance Sheet	3 to 4
Notes to the Unaudited Abridged Financial Statements	5 to 12

Smiths Building Limited

Company Information

Directors

Mr A Smith Mr PM Smith Mr CDP Jenkins

Company secretary

Mrs K J Smith

Registered office

Unit 22 Brickfield Industrial Estate Gillingham Dorset SP8 4LT

Accountants

Ward Goodman Accountancy Services Ltd Chartered Certified Accountants4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF

Smiths Building Limited

Statement of Directors' Responsibilities

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Smiths Building Limited

(Registration number: 07030589)
Abridged Balance Sheet as at 31 March 2025

	Note	2025 £	2023 £
Fixed assets
Tangible assets	4	314,182	307,059
Investment property		295,000	295,000
		609,182	602,059
Current assets
Stocks	5	3,000	12,588
Debtors		56,565	61,667
Cash at bank and in hand		66,836	32,831
		126,401	107,086
Prepayments and accrued income		2,783	2,086
Creditors: Amounts falling due within one year		(214,825)	(148,981)
Net current liabilities		(85,641)	(39,809)
Total assets less current liabilities		523,541	562,250
Creditors: Amounts falling due after more than one year		(83,566)	(137,532)
Provisions for liabilities		(57,816)	(54,713)
Accruals and deferred income		-	(600)
Net assets		382,159	369,405
Capital and reserves
Called up share capital		3	3
Revaluation reserve		101,765	101,765
Retained earnings		280,391	267,637
Shareholders' funds		382,159	369,405

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Smiths Building Limited

(Registration number: 07030589)
Abridged Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 26 September 2025 and signed on its behalf by:
 

......................................... Mr A Smith Director

......................................... Mr PM Smith Director

......................................... Mr CDP Jenkins Director

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 January 2024 to 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 22 Brickfield Industrial Estate
Gillingham
Dorset
SP8 4LT
England

These financial statements were authorised for issue by the Board on 26 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£) and rounded to the nearest £1.

Disclosure of long or short period

The company extended its financial period from 31 December 2024 to 31 March 2025. This was done in order to ease administrative strain at the end of the calendar year. Accordingly, the current financial statements are prepared for 15 months from 1 January 2024 to 31 March 2025 and as a result, the comparative figures will not be entirely comparable.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 January 2024 to 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Long leasehold property	2% straight line method
Plant & machinery	25% reducing balance
Motor vehicles	15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 January 2024 to 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 January 2024 to 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 9 (2023 - 9).

4	Tangible assets

	Long leasehold land and buildings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	215,536	80,665	60,085	356,286
Additions	-	3,752	35,050	38,802
At 31 March 2025	215,536	84,417	95,135	395,088
Depreciation
At 1 January 2024	-	24,047	25,180	49,227
Charge for the period	5,388	18,116	8,175	31,679
At 31 March 2025	5,388	42,163	33,355	80,906
Carrying amount
At 31 March 2025	210,148	42,254	61,780	314,182
At 31 December 2023	215,536	56,618	34,905	307,059

Included within plant & machinery are assets held under hire purchase agreement with a net book value of £10,636 (2023: £15,470). There are also assets included within motor vehicles held under hire purchase agreement with a net book value of £58,849 (2023: £33,575).

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 January 2024 to 31 March 2025

Investment properties

	2025 £
At 1 January	295,000
At 31 March	295,000

The fair value at 31 March 2025 is represented by a valuation in 2021 by an independent professional third party. If the investment property had not been revalued it would have been included at its historical cost of £169,364

5

Stocks

	2025 £	2023 £
Raw materials and consumables	1,500	4,300
Work in progress	1,500	8,288
	3,000	12,588

6	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £275 (2023 - £7,021). The aforementioned financial commitments relate to vehicle operating leases.

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £120,041 (2023 - £144,036). The aforementioned financial commitments are made up of a Government backed COVID loan of £31,950 (2023: £81,276), a mortgage of £60,544 (2023: £69,847) owing to Lloyds Bank PLC (charge number 0703 0589 002) which is secured against the property it relates to, hire purchase commitments of £55,544 (2023: £44,820) which are secured against the assets they relate to, net wage commitments of £3,060 (2023: £NIL) and credit card commitments of £10,879 (2023: £8,334).

Included in the balance sheet are pensions of £879 (2023 - £738). The company operates a money purchase pension scheme for the director and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The aforementioned commitments are included within creditors.

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 January 2024 to 31 March 2025

Directors' remuneration

The directors' remuneration for the period was as follows:

	2025 £	2023 £
Remuneration	56,137	37,710
Contributions paid to money purchase schemes	982	570
	57,119	38,280