The Peter Smith Valve Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01036179 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

THE PETER SMITH VALVE COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P N Smith

Mrs L K Smith

SECRETARY:

Mrs L K Smith

REGISTERED OFFICE:

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

REGISTERED NUMBER:

01036179 (England and Wales)

AUDITORS:

Lemans

Statutory Auditor

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

FIXED ASSETS

Tangible assets

4

74,427

96,561

CURRENT ASSETS

Stocks

678,292

626,465

Debtors

5

406,433

321,805

Cash at bank and in hand

2,581,196

2,592,109

3,665,921

3,540,379

CREDITORS

Amounts falling due within one year

6

639,675

632,674

NET CURRENT ASSETS

3,026,246

2,907,705

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,100,673

3,004,266

CAPITAL AND RESERVES

Called up share capital

8

38,000

Capital redemption reserve

9

2,000

Retained earnings

9

3,060,673

2,964,266

SHAREHOLDERS' FUNDS

3,100,673

3,004,266

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

P N Smith - Director

1.	STATUTORY INFORMATION

The Peter Smith Valve Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

33% on cost and 20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined on a first in first out basis.

Work in progress and finished goods are valued at the lower of cost and net realisable value and include direct cost incurred and attributable production overheads with due allowance made for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 April 2024

159,493

77,158

191,436

428,087

Additions

-

1,481

-

1,481

At 31 March 2025

159,493

78,639

191,436

429,568

DEPRECIATION

At 1 April 2024

138,272

74,600

118,654

331,526

Charge for year

4,244

1,177

18,194

23,615

At 31 March 2025

142,516

75,777

136,848

355,141

NET BOOK VALUE

At 31 March 2025

16,977

2,862

54,588

74,427

At 31 March 2024

21,221

2,558

72,782

96,561

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

365,302

292,634

Amounts owed by group undertakings

8,320

5,585

Other debtors

244

Prepayments

32,567

23,342

406,433

321,805

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

325,821

304,643

Corporation tax

102,520

159,492

Social security and other taxes

202,096

159,486

Other creditors

9,238

9,053

639,675

632,674

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

Within one year

83,600

Between one and five years

129,375

186,875

212,975

270,475

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

38,000

Ordinary

£1

38,000

9.

RESERVES

Dividends

On the 16th September 2024, the company paid an interim dividend of £200,000 to its parent company Peter Smith Holding Company Limited which is incorporated in England. Company Number 13439896.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adrian Harby FCCA (Senior Statutory Auditor)

for and on behalf of Lemans

11.	RELATED PARTY DISCLOSURES

Stephen Smith Property Development Company Ltd

Capital repayments of £nil (2024 - £nil) and loan advances totally £nil (2024 - £nil) were made by The Peter Smith Valve Company Limited to Stephen Smith Property Development Company Ltd during the year. Stephen Smith Property Development Company Ltd is a related party by virtue of being controlled by Mr S P Smith, son of Mr P N Smith.

At 31 March 2025 an amount of £3,582 (2024 - £3,582) was outstanding to The Peter Smith Valve Company Limited from Stephen Smith Property Development Company Ltd, which included £nil (2024 - £nil) of accrued interest. The loan is repayable on demand. No interest has been charged on this loan for the year ended 31 March 2025 (2024 - nil).

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr P N Smith who is the majority shareholder in the parent company Peter Smith Holding Company Limited.