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L.C. SMALES & SON LIMITED

Registered Number
06788163
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

L.C. SMALES & SON LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors | Mrs A J Pearce
| Mrs J W Smales
| Miss L I Smales

Registered Address | Thornton Farm,
| Norham,
| Berwick-Upon-Tweed,
| TD15 2LP

Registered Number | 06788163 (England and Wales)

L.C. SMALES & SON LIMITED
Statement of Financial Position
31 March 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 4 |  |  | 1,077,531 |  |  |  | 997,080
Investments | 5 |  |  | 6 |  |  |  | 6
|  |  |  | 1,077,537 |  |  |  | 997,086
Current assets |  |  |  |  |  |  |  |
Stocks |  | 68,711 |  |  |  | 79,754 |  |
Debtors | 6 | 201,961 |  |  |  | 233,648 |  |
Cash at bank and on hand |  | 171,199 |  |  |  | 265,349 |  |
|  | 441,871 |  |  |  | 578,751 |  |
Creditors amounts falling due within one year | 7 | (355,227) |  |  |  | (423,756) |  |
Net current assets (liabilities) |  |  |  | 86,644 |  |  |  | 154,995
Total assets less current liabilities |  |  |  | 1,164,181 |  |  |  | 1,152,081
Net assets |  |  |  | 1,164,181 |  |  |  | 1,152,081
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 1,000 |  |  |  | 1,000
Profit and loss account |  |  |  | 1,163,181 |  |  |  | 1,151,081
Shareholders' funds |  |  |  | 1,164,181 |  |  |  | 1,152,081

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 11 June 2025, and are signed on its behalf by:
Mrs J W Smales Director Registered Company No. 06788163

L.C. SMALES & SON LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Basis of preparation
--- | ---
| The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

| Turnover policy
--- | ---
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

| Foreign currency translation
--- | ---
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Intangible assets
--- | ---
| Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

|  | Reducing balance (%) |  | Straight line (years)
| Plant and machinery | 15 |  | 25
| Fixtures and fittings | - |  | 5
| Vehicles | 25 |  | -
| Office Equipment | - |  | 5

| Investments
--- | ---
| Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

| Stocks and work in progress
--- | ---
| Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

| Trade and other debtors
--- | ---
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

| Trade and other creditors
--- | ---
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 4 |  | 4

3. | Intangible assets
--- | ---

|  | Other |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| At 01 April 24 | (51,885) |  | (51,885)
| At 31 March 25 | (51,885) |  | (51,885)
| Amortisation and impairment
| At 01 April 24 | (51,885) |  | (51,885)
| At 31 March 25 | (51,885) |  | (51,885)
| Net book value
| At 31 March 25 | - |  | -
| At 31 March 24 | - |  | -

4. | Tangible fixed assets
--- | ---

|  | Land & buildings |  | Plant & machinery |  | Vehicles |  | Office Equipment |  | Total
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £ |  | £
| Cost or valuation
| At 01 April 24 | 461,495 |  | 1,377,749 |  | 101,947 |  | 6,257 |  | 1,947,448
| Additions | 164,979 |  | 46,802 |  | - |  | - |  | 211,781
| At 31 March 25 | 626,474 |  | 1,424,551 |  | 101,947 |  | 6,257 |  | 2,159,229
| Depreciation and impairment
| At 01 April 24 | (52,005) |  | 950,369 |  | 46,023 |  | 5,981 |  | 950,368
| Charge for year | 40,316 |  | 76,968 |  | 13,981 |  | 65 |  | 131,330
| At 31 March 25 | (11,689) |  | 1,027,337 |  | 60,004 |  | 6,046 |  | 1,081,698
| Net book value
| At 31 March 25 | 638,163 |  | 397,214 |  | 41,943 |  | 211 |  | 1,077,531
| At 31 March 24 | 513,500 |  | 427,380 |  | 55,924 |  | 276 |  | 997,080

5. | Fixed asset investments
--- | ---

|  | Other investments1 |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| At 01 April 24 | 6 |  | 6
| At 31 March 25 | 6 |  | 6
| Net book value
| At 31 March 25 | 6 |  | 6
| At 31 March 24 | 6 |  | 6

| Notes
--- | ---
| 1Other investments other than loans

6. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 191,021 |  | 217,571
| Other debtors | 600 |  | 600
| Prepayments and accrued income | 10,340 |  | 15,477
| Total | 201,961 |  | 233,648

7. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 5,899 |  | 42,581
| Taxation and social security | 17,648 |  | 12,750
| Other creditors | 221,125 |  | 299,164
| Accrued liabilities and deferred income | 110,555 |  | 69,261
| Total | 355,227 |  | 423,756