Registration number: 05279844

F Smith & Son (Croydon) Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 10

F Smith & Son (Croydon) Ltd

Company Information

Directors

Mrs S Smith Mr J Smith Mr D Smith

Company secretary

Mrs S Smith

Registered office

Victoria House Stanbridge Park Staplefield Lane Staplefield West Sussex United Kingdom RH17 6AS

Accountants

Carter Nicholls Ltd Victoria House Stanbridge Park Staplefield Lane Staplefield West Sussex RH17 6AS

F Smith & Son (Croydon) Ltd

(Registration number: 05279844)
Balance Sheet as at 30 November 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	209,806	249,642
Current assets
Stocks	6	7,922	6,000
Debtors	7	128,948	94,826
Cash at bank and in hand		105,383	151,458
		242,253	252,284
Creditors: Amounts falling due within one year	8	(159,756)	(117,278)
Net current assets		82,497	135,006
Total assets less current liabilities		292,303	384,648
Creditors: Amounts falling due after more than one year	8	(48,323)	(133,144)
Provisions for liabilities		(52,452)	(60,102)
Net assets		191,528	191,402
Capital and reserves
Called up share capital	9	302	302
Retained earnings		191,226	191,100
Shareholders' funds		191,528	191,402

For the financial year ending 30 November 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 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.

Approved and authorised by the Board on 4 March 2026 and signed on its behalf by:
 

......................................... Mr D Smith Director

F Smith & Son (Croydon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1	General information

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

The address of its registered office is:
Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS
United Kingdom

The principal place of business is:
Unit 5-6 Mill Lane Trading Estate,
Mill Lane,
Croydon,
Surrey,
CR0 4AA
England

These financial statements were authorised for issue by the Board on 4 March 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.

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.

F Smith & Son (Croydon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

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
Fixtures and fittings	15% reducing balance
Motor vehicles	15% reducing balance
Equipment	25% reducing balance
Long leasehold property	Straight line over lease period

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	20% straight line

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.

F Smith & Son (Croydon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

F Smith & Son (Croydon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2024 - 16).

F Smith & Son (Croydon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 December 2024	15,500	15,500
At 30 November 2025	15,500	15,500
Amortisation
At 1 December 2024	15,500	15,500
At 30 November 2025	15,500	15,500
Carrying amount
At 30 November 2025	-	-

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 December 2024	20,530	150,695	399,673	570,898
Disposals	-	-	(10,380)	(10,380)
At 30 November 2025	20,530	150,695	389,293	560,518
Depreciation
At 1 December 2024	11,295	108,005	201,956	321,256
Charge for the year	1,369	6,766	29,297	37,432
Eliminated on disposal	-	-	(7,976)	(7,976)
At 30 November 2025	12,664	114,771	223,277	350,712
Carrying amount
At 30 November 2025	7,866	35,924	166,016	209,806
At 30 November 2024	9,235	42,690	197,717	249,642

Included within the net book value of land and buildings above is £7,866 (2024 - £9,235) in respect of long leasehold land and buildings.
 

6

Stocks

	2025 £	2024 £
Other inventories	7,922	6,000

F Smith & Son (Croydon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

7

Debtors

Current	2025 £	2024 £
Trade debtors	48,191	12,492
Prepayments	28,057	29,556
Other debtors	52,700	52,778
	128,948	94,826

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	22,335	25,538
Trade creditors		34,345	8,144
Taxation and social security		82,153	64,493
Accruals and deferred income		7,352	4,834
Other creditors		13,571	14,269
		159,756	117,278

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £22,335 (2024 - £25,537)

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	-	64,821
Other financial liabilities		48,323	68,323
		48,323	133,144

Creditors include bank loans an overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £0 (2024 - £68,022)

F Smith & Son (Croydon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	300	300	300	300
Ordinary B of £1 each	2	2	2	2
	302	302	302	302

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	64,821

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	22,335	22,335
Hire purchase contracts	-	3,203
	22,335	25,538

11

Dividends

Interim dividends paid

		2025 £		2024 £
Interim dividend of £336.66 (2024 - £330.00) per each Ordinary		101,000		99,000
Interim dividend of £3,500.00 (2024 - £12,000.00) per each Ordinary B		7,000		12,000
		108,000		111,000

12	Related party transactions

F Smith & Son (Croydon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	51,920	52,593

Dividends paid to directors

		2025 £		2024 £
Mr J Smith
Dividends paid		36,000		37,000
Mrs S Smith
Dividends paid		36,000		37,000
Mr D Smith
dividends paid		29,000		25,000