REGISTERED NUMBER: 15516398 (England and Wales)

Unaudited Financial Statements

For The Year Ended 28th February 2026

for

Smith L Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

L F Smith

REGISTERED OFFICE:

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

REGISTERED NUMBER:

15516398 (England and Wales)

ACCOUNTANTS:

Wildin (Accountants & Auditors) Ltd

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

FIXED ASSETS

Tangible assets

4

86,079

114,772

CURRENT ASSETS

Stocks

104,208

73,380

Debtors

5

92,481

60,093

Cash at bank and in hand

36,436

40,442

233,125

173,915

CREDITORS

Amounts falling due within one year

6

155,189

163,938

NET CURRENT ASSETS

77,936

9,977

TOTAL ASSETS LESS CURRENT LIABILITIES

164,015

124,749

CREDITORS

Amounts falling due after more than one year

7

(104,382

)

(118,036

)

PROVISIONS FOR LIABILITIES

(16,311

)

-

NET ASSETS

43,322

6,713

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

43,321

6,712

SHAREHOLDERS' FUNDS

43,322

6,713

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 31st July 2026 and were signed by:

L F Smith - Director

1.	STATUTORY INFORMATION

Smith L Limited is a private company, limited by shares , registered in England and Wales. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Stocks

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 Income Statement, 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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2025 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st March 2025

and 28th February 2026

125,206

DEPRECIATION

At 1st March 2025

10,434

Charge for year

28,693

At 28th February 2026

39,127

NET BOOK VALUE

At 28th February 2026

86,079

At 28th February 2025

114,772

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st March 2025

and 28th February 2026

125,206

DEPRECIATION

At 1st March 2025

10,434

Charge for year

28,693

At 28th February 2026

39,127

NET BOOK VALUE

At 28th February 2026

86,079

At 28th February 2025

114,772

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Trade debtors

85,984

58,815

SOT Reserve Accounts

6,497

1,278

92,481

60,093

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Funding Loans

69,632

75,069

SOT Trade Creditors

20,972

25,176

Social security and other taxes

629

23

VAT

8,090

5,134

SOT Other Creditors

35,078

36,707

Directors' current accounts

18,968

21,829

Accrued expenses

1,820

-

155,189

163,938

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.26

28.2.25

£

£

Hire purchase contracts

104,382

118,036

8.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.26

28.2.25

£

£

Snap-On UK Holdings Limited

230,065

254,988

Snap-on UK Holdings Limited has fixed and floating charges over the assets of the company in respect of any monies owed to it.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.26

28.2.25

value:

£

£

1

Ordinary Shares

1

1

1

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 28th February 2026 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Wildin (Accountants & Auditors) Ltd

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

31st July 2026