Company No: 07365522 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	125,829		140,073
		125,829		140,073
Current assets
Stocks	5	4,658		6,013
Debtors	6	9,544		4,725
Cash at bank and in hand		4,175		3,336
		18,377		14,074
Creditors: amounts falling due within one year	7	( 431,912)		( 432,668)
Net current liabilities		(413,535)		(418,594)
Total assets less current liabilities		(287,706)		(278,521)
Net liabilities		( 287,706)		( 278,521)
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		( 287,806 )		( 278,621 )
Total shareholder's deficit		( 287,706)		( 278,521)

For the financial 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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of James Smith Designs Ltd (registered number: 07365522) were approved and authorised for issue by the Director on 03 January 2026. They were signed on its behalf by:

Mr J E P Smith Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

James Smith Designs Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. They confirm they will not cover in their loan due to the company with the next 12 months. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery

10 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 April 2024	11,340		11,340
At 31 March 2025	11,340		11,340
Accumulated amortisation
At 01 April 2024	11,340		11,340
At 31 March 2025	11,340		11,340
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Plant and machinery		Total
	£		£
Cost
At 01 April 2024	247,301		247,301
Additions	1,036		1,036
At 31 March 2025	248,337		248,337
Accumulated depreciation
At 01 April 2024	107,228		107,228
Charge for the financial year	15,280		15,280
At 31 March 2025	122,508		122,508
Net book value
At 31 March 2025	125,829		125,829
At 31 March 2024	140,073		140,073

5. Stocks

	2025		2024
	£		£
Finished goods	4,658		6,013

6. Debtors

	2025		2024
	£		£
Trade debtors	8,640		0
Other debtors	904		4,725
	9,544		4,725

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		332
Amounts owed to director	430,431		428,431
Accruals	1,359		3,905
Other taxation and social security	122		0
	431,912		432,668

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares shares of £ 1.00 each	100		100