Company Registration No. 00615984 (England and Wales)
J.P. SMITH & SONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
J.P. SMITH & SONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
J.P. SMITH & SONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,019,545
1,022,752
Current assets
Stocks
310
310
Debtors
4
42,115
52,980
Cash at bank and in hand
46,798
53,232
89,223
106,522
Creditors: amounts falling due within one year
5
(108,407)
(98,316)
Net current (liabilities)/assets
(19,184)
8,206
Total assets less current liabilities
1,000,361
1,030,958
Creditors: amounts falling due after more than one year
6
(63,156)
(102,609)
Provisions for liabilities
(16,133)
(19,630)
Net assets
921,072
908,719
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
920,072
907,719
Total equity
921,072
908,719
J.P. SMITH & SONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 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 3 October 2025
Mr Robert Smith
Director
Company registration number 00615984 (England and Wales)
J.P. SMITH & SONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 3 -
1
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
2
Accounting policies
Company information

J.P. Smith & Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is Aston Road, Wem, Shrewsbury, Shropshire, SY4 5JF.

2.1
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 a mounts 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.

2.2
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

2.3
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:

Freehold land and buildings
not depreciated
Plant and machinery
12.5% per annum on written down value
Fixtures, fittings & equipment
12.5% per annum on written down value
Motor vehicles
25% per annum on written down value

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.

2.4
Stocks

Stocks are stated at the lower of cost and net realisable value.

J.P. SMITH & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2
Accounting policies
(Continued)
- 4 -
2.5
Taxation
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

3
Tangible fixed assets
Freehold land and buildings
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
866,216
393,977
24,590
140,671
1,425,454
Additions
15,200
-
0
1,747
-
0
16,947
At 31 March 2025
881,416
393,977
26,337
140,671
1,442,401
Depreciation and impairment
At 1 April 2024
-
0
242,436
22,538
137,728
402,702
Depreciation charged in the year
-
0
18,943
475
736
20,154
At 31 March 2025
-
0
261,379
23,013
138,464
422,856
Carrying amount
At 31 March 2025
881,416
132,598
3,324
2,207
1,019,545
At 31 March 2024
866,216
151,541
2,052
2,943
1,022,752
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
37,517
38,972
Corporation tax recoverable
-
0
10,941
Other debtors
3,521
695
Prepayments and accrued income
1,077
2,372
42,115
52,980
J.P. SMITH & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Obligations under finance leases
26,600
26,600
Trade creditors
45,097
38,435
Corporation tax
10,251
-
0
Other taxation and social security
6,684
10,981
Other creditors
4,646
7,825
Accruals and deferred income
5,129
4,475
108,407
98,316
6
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
3,306
13,333
Obligations under finance leases
59,850
89,276
63,156
102,609
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
8
Directors' transactions

Dividends totalling £15,000 (2024 - £5,000) were paid in the year in respect of shares held by the company's directors.

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