REGISTERED NUMBER: SC272215 (Scotland)

Financial Statements for the Year Ended 31 January 2026

for

G SMITH LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G C Smith

J Simpson

REGISTERED OFFICE:

Riverview

Marykirk

Laurencekirk

Kincardineshire

AB30 1UT

REGISTERED NUMBER:

SC272215 (Scotland)

ACCOUNTANTS:

Account Tax Ltd

Chartered Certified Accountants

12 Traill Drive

Montrose

Angus

DD10 8SW

FIXED ASSETS

Intangible assets

4

-

1,900

Tangible assets

5

1,746

1,914

1,746

3,814

CURRENT ASSETS

Stocks

8,106

7,573

Debtors

6

1,493

1,086

Cash at bank and in hand

54,841

49,795

64,440

58,454

CREDITORS

Amounts falling due within one year

7

14,540

9,722

NET CURRENT ASSETS

49,900

48,732

TOTAL ASSETS LESS CURRENT LIABILITIES

51,646

52,546

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

51,644

52,544

SHAREHOLDERS' FUNDS

51,646

52,546

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by:

G C Smith - Director

1.	STATUTORY INFORMATION

G Smith Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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 4 (2025 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2025

and 31 January 2026

19,000

AMORTISATION

At 1 February 2025

17,100

Charge for year

1,900

At 31 January 2026

19,000

NET BOOK VALUE

At 31 January 2026

-

At 31 January 2025

1,900

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2025

2,504

7,947

8,995

19,446

Additions

-

340

-

340

At 31 January 2026

2,504

8,287

8,995

19,786

DEPRECIATION

At 1 February 2025

1,863

7,107

8,562

17,532

Charge for year

161

239

108

508

At 31 January 2026

2,024

7,346

8,670

18,040

NET BOOK VALUE

At 31 January 2026

480

941

325

1,746

At 31 January 2025

641

840

433

1,914

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,493

1,086

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

8,430

5,845

Taxation and social security

4,641

2,769

Other creditors

1,469

1,108

14,540

9,722

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £15,000 (2025 - £5,000) were paid to the directors .

The company was under control of G C Smith and J Simpson throughout the current and previous year

During the year the directors advanced the company net amounts totalling £341. As at 31 January 2026, included within other creditors, is a balance outstanding due to the director of £659 (2025 - £318) No interest was paid on this loan.