| SMD Retail Limited |
| Registered number: |
04901753 |
| Balance Sheet |
| as at 31 October 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
40,603 |
|
|
52,953 |
| Tangible assets |
4 |
|
|
130,236 |
|
|
139,500 |
|
|
|
|
170,839 |
|
|
192,453 |
|
| Current assets |
| Stocks |
|
|
1,337,033 |
|
|
1,543,639 |
| Debtors |
5 |
|
3,494,015 |
|
|
3,480,545 |
| Cash at bank and in hand |
|
|
269,712 |
|
|
89,264 |
|
|
|
5,100,760 |
|
|
5,113,448 |
|
| Creditors: amounts falling due within one year |
6 |
|
(229,040) |
|
|
(521,815) |
|
| Net current assets |
|
|
|
4,871,720 |
|
|
4,591,633 |
|
| Total assets less current liabilities |
|
|
|
5,042,559 |
|
|
4,784,086 |
|
|
| Provisions for liabilities |
|
|
|
(5,200) |
|
|
(7,000) |
|
|
| Net assets |
|
|
|
5,037,359 |
|
|
4,777,086 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Capital redemption reserve |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
5,037,356 |
|
|
4,777,083 |
|
| Shareholder's funds |
|
|
|
5,037,359 |
|
|
4,777,086 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his 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. |
|
|
|
|
| R I Forrester |
| Director |
| Approved by the board on 13 July 2026 |
|
| SMD Retail Limited |
| Notes to the Accounts |
| for the year ended 31 October 2025 |
|
|
| 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). |
|
|
Turnover |
|
Turnover arises from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, and is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
|
|
Fixed assets |
|
Fixed assets are measured at cost less accumulated depreciation and any impairment losses in respect of intangibles. Depreciation / amortisation is provided on all 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: |
|
|
Intangible asset |
20% straight line |
|
Plant and machinery |
25% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
|
Stocks |
|
Stocks are measured at the lower of cost and net realisable value, being estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is also recognised. |
|
|
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 accounts and their inclusion in tax assessments. 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. |
|
|
Leased assets |
|
All leases are classified as operating leases where the 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 |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
5 |
|
5 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 November 2024 |
61,750 |
|
At 31 October 2025 |
61,750 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 November 2024 |
8,797 |
|
Provided during the year |
12,350 |
|
At 31 October 2025 |
21,147 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2025 |
40,603 |
|
At 31 October 2024 |
52,953 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 November 2024 |
102,453 |
|
63,577 |
|
69,044 |
|
235,074 |
|
At 31 October 2025 |
102,453 |
|
63,577 |
|
69,044 |
|
235,074 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2024 |
- |
|
50,782 |
|
44,792 |
|
95,574 |
|
Charge for the year |
- |
|
3,201 |
|
6,063 |
|
9,264 |
|
At 31 October 2025 |
- |
|
53,983 |
|
50,855 |
|
104,838 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2025 |
102,453 |
|
9,594 |
|
18,189 |
|
130,236 |
|
At 31 October 2024 |
102,453 |
|
12,795 |
|
24,252 |
|
139,500 |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
61,596 |
|
7,698 |
|
Other debtors |
3,432,419 |
|
3,472,847 |
|
|
|
|
|
|
3,494,015 |
|
3,480,545 |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
97,500 |
|
120,215 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
14,700 |
|
199,171 |
|
Trade creditors |
29,952 |
|
74,853 |
|
Taxation and social security costs |
157,310 |
|
176,421 |
|
Other creditors |
27,078 |
|
71,370 |
|
|
|
|
|
|
229,040 |
|
521,815 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Events after the reporting date |
|
|
The company's lease upon its property expires in July 2026. New terms have been offered and are currently being negotiated. It is anticipated that these terms will be for a shorter period than the current lease, which was for 15 years albeit with break clauses. |
|
|
| 8 |
Other financial commitments |
2025 |
|
2024 |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
37,125 |
|
86,625 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
R I Forrester |
|
Loan made without terms |
367,979 |
|
49,584 |
|
(119,398) |
|
298,165 |
|
|
|
367,979 |
|
49,584 |
|
(119,398) |
|
298,165 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Related party transactions |
|
|
At the balance sheet date, the company had lent a cumulative amount of £2,996,258 (2024 - £2,844,907) to a company which is under common control. There are no terms attaching to this loan. |
|
|
| 11 |
Other information |
|
|
SMD Retail Limited is a private company limited by shares and incorporated in England and Wales. It is wholly-owned and therefore controlled by the sole director. The registered office is situated at SMD Court, Miners Road, Llay Industrial Estate, Wrexham, LL12 0PJ. |