G. A. Smith & Sons Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00241951

G. A. Smith & Sons Limited

Filleted Unaudited Financial Statements

31 March 2025

G. A. Smith & Sons Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

G. A. Smith & Sons Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		601,000		601,000

Current assets

Debtors	7	11,000	11,415
Cash at bank and in hand		12,183	45,144
		--------	--------
		23,183	56,559

Creditors: amounts falling due within one year	8	5,515		15,534
		--------		--------
Net current assets			17,668		41,025
			---------		---------
Total assets less current liabilities			618,668		642,025
			---------		---------
Net assets			618,668		642,025
			---------		---------

Capital and reserves

Called up share capital	9	120,000	120,000
General reserves	10	50,000	50,000
Profit and loss account	10	448,668	472,025
		---------	---------
Shareholders funds		618,668	642,025
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

G. A. Smith & Sons Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 7 November 2025 , and are signed on behalf of the board by:

Mr N R Smith

Director

Company registration number: 00241951

G. A. Smith & Sons Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is derived from rent and management fees on a receivable basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office Equipment	-	25 % straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Tangible assets

	Investment freehold property	Equipment	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	601,000	800	601,800
	---------	----	---------
Depreciation
At 1 April 2024 and 31 March 2025	–	800	800
	---------	----	---------
Carrying amount
At 31 March 2025	601,000	–	601,000
	---------	----	---------
At 31 March 2024	601,000	–	601,000
	---------	----	---------

In respect of certain fixed assets stated at valuations, the comparable historical cost and depreciation values are £182,137 (2024 - £182,137).

Investment properties were revalued by the directors on an open market value basis.

6. Investments

The company owns 100% of the issued share capital of Bruce Burlington & Co Limited at Nil cost.

7. Debtors

	2025	2024
	£	£
Directors loan account	7,751	8,063
Other debtors and prepayments	3,249	3,352
	--------	--------
	11,000	11,415
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Amounts owed to group undertakings	–	10,056
Accruals and deferred income	5,207	4,967
Social security and other taxes	308	511
	-------	--------
	5,515	15,534
	-------	--------

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	60,000	60,000	60,000	60,000
5% Cumulative Preference shares of £ 1 each	60,000	60,000	60,000	60,000
	---------	---------	---------	---------
	120,000	120,000	120,000	120,000
	---------	---------	---------	---------

The preference shares carry the right to dividends before ordinary shares, and also have priority on a winding up. The preference shares carry no voting rights. Outstanding preference dividends at the year end date amounted to £18,000 (2024 - £15,000).

10. Reserves

Profit and loss account - This reserve includes both distributable and non-distributable reserves as follows:

	2025	2024
	£	£
Distributable reserves	29,805	53,162
Non-distributable reserves	418,863	418,863
	---------	---------
Total	448,668	472,025
	---------	---------

11. Directors' advances, credits and guarantees

At the year end N R Smith owed the company £551 (2024 - £863) and G R P Smith owed the company £7,200 (2024 - £7,200) which are shown amongst debtors. Interest of £0 (2024 - £0) was charged on the loans.

12. Related party transactions

The company has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with group companies that are wholly owned.