A_G_Smith__Co_Ltd_31_Mar_2025_companies_house_set_of

A G Smith & Co Ltd

Statement of Financial Position

31 March 2025

		2025		2024
	Note	£		£
Fixed assets
Intangible assets	5	258,075		105,440
Tangible assets	6	116,743		168,633
		374,818		274,073
Current assets
Debtors	7	116,724		134,382
Cash at bank and in hand		117,314		139,912
		234,038		274,294
Creditors: amounts falling due within one year	8	(254,312	)	(247,317	)
Net current (liabilities)/assets		(20,274	)	26,977
Total assets less current liabilities		354,544		301,050
Creditors: amounts falling due after more than one year	9	(1,667	)	(11,667	)
Provisions for liabilities		(23,414	)	(36,194	)
Net assets		329,463		253,189
Capital and reserves
Called up share capital		110		110
Profit and loss account		329,353		253,079
Shareholders funds		329,463		253,189

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.

These

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 income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

10 December 2025

, and are signed on behalf of the board by:



Andrew George Smith FCCA	Jordan Andrew Smith ACCA
Director	Director

Company registration number:

04704188

A G Smith & Co Ltd

Notes to the Financial Statements

Year ended

31 March 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Unit 8 Laceby Business Park

Grimsby Road

Laceby

North East Lincolnshire

DN37 7DP

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

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

Goodwill

5-10 years.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Fixtures, fittings and equipment

3-5 years.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

18.00

5 Intangible assets

	Goodwill		Other intangible assets	Total
	£		£	£
Cost
At 1 April 2024 and 31 March 2025	258,075		-	258,075
Amortisation
At 1 April 2024	152,635		-	152,635
Other movements	(152,635	)	-	(152,635	)
At 31 March 2025	-		-	-
Carrying amount
At 31 March 2025	258,075		-	258,075
At 31 March 2024	105,440		-	105,440

6 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 April 2024	286,796
Additions	6,441
Disposals	(125	)
At 31 March 2025	293,112
Depreciation
At 1 April 2024	118,163
Charge	58,220
Disposals	(14	)
At 31 March 2025	176,369
Carrying amount
At 31 March 2025	116,743
At 31 March 2024	168,633

7 Debtors

	2025	2024
	£	£
Trade debtors	76,755	91,533
Other debtors	39,969	42,849
	116,724	134,382

8 Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	14,124	11,420
Taxation and social security	105,725	111,115
Other creditors	124,463	114,782
	254,312	247,317

The company is providing a cross-guarantee as security for a loan on behalf of AGS Property (Lincs) Limited.

9 Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans and overdrafts	1,667		11,667

The company is providing a cross-guarantee as security for a loan on behalf of AGS Property (Lincs) Limited.