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Registration number: 04424314

S Smith & Sons Carpets Ltd
Unaudited Filleted Financial Statements
for the Year Ended 28 February 2026

S Smith & Sons Carpets Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 9

S Smith & Sons Carpets Ltd

Company Information

Directors | S J Smith Mrs A J Smith T Smith

Company secretary | S J Smith

Registered office | Links House 156 Grace Road Central Marsh Barton Trading Estate Exeter Devon EX2 8QA

Accountants | M J Smith & Co Limited Chartered Accountants 11 Yeo Business Park Axehayes Farm Clyst St. Mary Exeter Devon EX5 1DP

S Smith & Sons Carpets Ltd

(Registration number: 04424314)
Balance Sheet as at 28 February 2026

| Note | 2026 £ | 2025 £
fixed assets |  |  |
Intangible assets | 6 | - | 2,012
tangible assets | 7 | 89,308 | 109,195
|  | 89,308 | 111,207
Current assets |  |  |
stocks | 8 | (15,690) | (37,599)
Debtors | 9 | 30,390 | 50,556
Cash at bank and in hand |  | 574,213 | 554,832
|  | 588,913 | 567,789
Creditors: Amounts falling due within one year | 10 | (112,459) | (111,201)
Net current assets |  | 476,454 | 456,588
Total assets less current liabilities |  | 565,762 | 567,795
Provisions for liabilities |  | (16,691) | (9,497)
Net assets |  | 549,071 | 558,298
capital and reserves |  |  |
Called up share capital | 11 | 200 | 200
Profit and loss account |  | 548,871 | 558,098
Total equity |  | 549,071 | 558,298

For the financial year ending 28 February 2026 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

S Smith & Sons Carpets Ltd

(Registration number: 04424314)
Balance Sheet as at 28 February 2026

Approved and authorised by the Board on 19 May 2026 and signed on its behalf by:

......................................... S J Smith Company secretary and director

S Smith & Sons Carpets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
Links House 156 Grace Road Central
Marsh Barton Trading Estate
Exeter
Devon
EX2 8QA
England

These financial statements were authorised for issue by the Board on 19 May 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

S Smith & Sons Carpets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 25% reducing balance basis
Motor vehicles | 25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

S Smith & Sons Carpets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

S Smith & Sons Carpets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2025 - 11).

4 | Profit before tax

Arrived at after charging/(crediting)

| 2026 £ | 2025 £
Depreciation expense | 29,565 | 17,567
Amortisation expense | 2,012 | 2,008

5 | Taxation on profits on ordinary activities

| Note | 2026 £ | 2025 £
Tax reconciliation |  |  |
UK corporation tax |  | 37,352 | 14,164
UK corporation tax adjustment to prior periods |  | (21) | -
Deferred tax |  | 7,194 | -
|  | 44,525 | 14,164

S Smith & Sons Carpets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

6 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 March 2025 | 65,000 | 65,000
At 28 February 2026 | 65,000 | 65,000
Amortisation
At 1 March 2025 | 62,988 | 62,988
Amortisation charge | 2,012 | 2,012
At 28 February 2026 | 65,000 | 65,000
Carrying amount
At 28 February 2026 | - | -
At 28 February 2025 | 2,012 | 2,012

7 | Tangible assets

| Motor vehicles £ | Other property, plant and equipment £ | Total £
Cost or valuation
At 1 March 2025 | 207,920 | 124,487 | 332,407
Additions | - | 9,964 | 9,964
Disposals | (28,450) | - | (28,450)
At 28 February 2026 | 179,470 | 134,451 | 313,921
Depreciation
At 1 March 2025 | 116,175 | 106,944 | 223,119
Charge for the year | 22,688 | 6,876 | 29,564
Eliminated on disposal | (28,070) | - | (28,070)
At 28 February 2026 | 110,793 | 113,820 | 224,613
Carrying amount
At 28 February 2026 | 68,677 | 20,631 | 89,308
At 28 February 2025 | 91,652 | 17,543 | 109,195

S Smith & Sons Carpets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

8 | Stocks

| 2026 £ | 2025 £
Other inventories | (15,690) | (37,599)

9 | Debtors

Current | 2026 £ | 2025 £
Trade debtors | 30,390 | 46,947
Other debtors | - | 3,609
| 30,390 | 50,556

10 | Creditors

Creditors: amounts falling due within one year

| 2026 £ | 2025 £
Due within one year |  |
trade creditors | 57,231 | 81,048
Taxation and social security | 6,783 | 4,612
Accruals and deferred income | 9,487 | 9,287
Other creditors | 38,462 | 15,807
Director's current account | 496 | 447
| 112,459 | 111,201

11 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
Ordinary shares of £1 each | 170 | 170 | 170 | 170
Ordinary A of £1 each | 15 | 15 | 15 | 15
Ordinary B of £1 each | 15 | 15 | 15 | 15
| 200 | 200 | 200 | 200

12 | Parent and ultimate parent undertaking

The ultimate controlling party is Mr S J Smith by virtue of his 55% shareholding .