A W Smith (Gosport) Limited - Filleted accounts

Registered number

00797871

A W Smith (Gosport) Limited

Filleted Accounts

30 April 2026

A W Smith (Gosport) Limited
Registered number:		00797871
Balance Sheet
as at 30 April 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		66,943			78,694

Current assets
Stocks		10,548			8,445
Debtors	4	-			124
Cash at bank and in hand		26,882			22,716
		37,430			31,285

Creditors: amounts falling due within one year	5	(157,815)			(155,001)

Net current liabilities			(120,385)			(123,716)

Total assets less current liabilities			(53,442)			(45,022)

Creditors: amounts falling due after more than one year	6		(21,387)			(31,334)



Net liabilities			(74,829)			(76,356)

Capital and reserves
Called up share capital			1,750			1,750
Profit and loss account			(76,579)			(78,106)

Shareholders' funds			(74,829)			(76,356)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Edward Smith
Director
Approved by the board on 24 June 2026

A W Smith (Gosport) Limited
Notes to the Accounts
for the year ended 30 April 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Going concern
	The company meets its working capital requirements through the use of an overdraft facility. The directors agree to continue to support the company financially. On this basis, they deem it prudent to prepare the accounts on a going concern basis.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Land and building			2% on cost
	Plant and machinery			25% reducing balance
	Fixtures, fittings, tools and equipment			25% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.





	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					7		7

















3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 May 2025	17,893		210,412		109,597		337,902
	At 30 April 2026	17,893		210,412		109,597		337,902

	Depreciation
	At 1 May 2025	12,345		192,706		54,157		259,208
	Charge for the year	258		4,426		7,067		11,751
	At 30 April 2026	12,603		197,132		61,224		270,959

	Net book value
	At 30 April 2026	5,290		13,280		48,373		66,943
	At 30 April 2025	5,548		17,706		55,440		78,694


4	Debtors					2026		2025
£							£

	Other debtors					-		124


5	Creditors: amounts falling due within one year					2026		2025
£							£

	Bank loans and overdrafts					66,257		75,281
	Obligations under finance lease and hire purchase contracts					9,141		10,816
	Taxation and social security costs					74,876		62,998
	Other creditors					7,541		5,906
						157,815		155,001


6	Creditors: amounts falling due after one year					2026		2025
£							£

	Bank loans					-		805
	Obligations under finance lease and hire purchase contracts					21,387		30,529
						21,387		31,334



7	Controlling party

	The ultimate controlling party is Edward Smith.


8	Other information

	A W Smith (Gosport) Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Quay Lane
	Gosport
	Hampshire
	PO12 4LJ