H Smith Plastics Limited - Filleted accounts

Registered number

00768332

H Smith Plastics Limited

Report and Accounts

31 July 2025

H Smith Plastics Limited
Registered number:		00768332
Balance Sheet
as at 31 July 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		225,088			234,168

Current assets
Stocks		76,861			369,344
Debtors	5	61,626			67,338
Cash at bank and in hand		838,865			658,542
		977,352			1,095,224

Creditors: amounts falling due within one year	6	(60,981)			(89,249)

Net current assets			916,371			1,005,975

Total assets less current liabilities			1,141,459			1,240,143


Provisions for liabilities - deferred tax			(6,137)			(7,587)


Net assets			1,135,322			1,232,556

Capital and reserves
Called up share capital			4,505			4,505
Profit and loss account			1,130,817			1,228,051

Shareholders' funds			1,135,322			1,232,556


The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



……………………………….			……………………………….
B J Smith			D L Mansell
Director			Director
Approved by the board on 6 November 2025

H Smith Plastics Limited
Notes to the Accounts
for the year ended 31 July 2025

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	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 from 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			2% straight line basis
	Plant and machinery			15% reducing balance basis
	Motor vehicles			25% reducing balance basis
	Freehold land is not depreciated

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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.

	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	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 profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Turnover					2025		2024
£							£

	Turnover attributable to geographical markets outside the UK					3,368		2,888


3	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					8		9


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 August 2024	312,435		615,749		6,500		934,684
	Additions	945		-		-		945
	Disposals	-		(26,229)		-		(26,229)
	At 31 July 2025	313,380		589,520		6,500		909,400

	Depreciation
	At 1 August 2024	112,407		581,674		6,435		700,516
	Charge for the year	3,540		4,720		15		8,275
	On disposals	-		(24,479)		-		(24,479)
	At 31 July 2025	115,947		561,915		6,450		684,312

	Net book value
	At 31 July 2025	197,433		27,605		50		225,088
	At 31 July 2024	200,028		34,075		65		234,168


	Freehold land and buildings:					2025		2024
£							£
	Historical cost					313,380		312,435
	Cumulative depreciation based on historical cost					115,947		112,407
						197,433		200,028


5	Debtors					2025		2024
£							£

	Trade debtors					53,751		57,507
	Other debtors					7,875		9,831
						61,626		67,338


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					1,458		11,115
	Corporation tax					824		39,965
	Directors' loan accounts					1,455		1,455
	Other taxes and social security costs					43,123		24,810
	Other creditors					14,121		11,904
						60,981		89,249


7	Pension commitments

	The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held seperately from those of the Company in an independently administered fund.


8	Contingent liabilities

	The company had no liabilities or guarantees other than those arising in the ordinary course of the company's business and, of those, no material losses are anticipated (2024 : Nil).


9	Related party transactions
						2025		2024
	Mr J Smith					£	£
	Director
	Mr J Smith is also a director and shareholder in M D Smith and Son.

	Rent for storage paid to M D Smith and Son					7,200		11,400



10	Controlling party

	No one individual has control of the company. At least three shareholders would have to combine their ownership of the issued ordinary share capital to gain control of the company.


11	Other information

	H Smith Plastics Limited is a private company limited by shares and incorporated in England. Its registered office is:
	The Mayphil Industrial Area
	Chelmsford Road
	Battlesbridge
	Essex
	SS11 7RJ