Company registration number 11771994 (England and Wales)
G.T. SMAILES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
G.T. SMAILES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
G.T. SMAILES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
918
1,224
Current assets
Stocks
16,700
42,260
Cash at bank and in hand
69,921
36,465
86,621
78,725
Creditors: amounts falling due within one year
4
(33,685)
(48,198)
Net current assets
52,936
30,527
Net assets
53,854
31,751
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
53,754
31,651
Total equity
53,854
31,751

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have 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 7 October 2025
Mr Thomas Smailes
Director
Company registration number 11771994 (England and Wales)
G.T. SMAILES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -
1
Accounting policies
Company information

G.T. Smailes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gautam House, 1 - 3 Shenley Avenue, Ruislip Manor, Middlesex, HA4 6BP.

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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% on reducing balance
Computers
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payabl e.

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.

G.T. SMAILES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
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
Total
£
£
£
Cost
At 1 February 2024 and 31 January 2025
3,560
413
3,973
Depreciation and impairment
At 1 February 2024
2,434
315
2,749
Depreciation charged in the year
281
25
306
At 31 January 2025
2,715
340
3,055
Carrying amount
At 31 January 2025
845
73
918
At 31 January 2024
1,126
98
1,224
4
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
7,016
944
Other taxation and social security
533
5,085
Other creditors
26,136
42,169
33,685
48,198
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