Registration number: 07030589

Smiths Building Limited

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 9

Smiths Building Limited

Company Information

Directors

Mr A Smith Mr PM Smith Mr CDP Jenkins

Company secretary

Mrs K Smith

Registered office

Unit 22 Brickfield Industrial Estate Gillingham Dorset England SP8 4LT

Accountants

Ward Goodman Accountancy Services Ltd Chartered Certified Accountants4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF

Smiths Building Limited

(Registration number: 07030589)
Abridged Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	313,920	314,182
Investment property		225,000	295,000
		538,920	609,182
Current assets
Stocks	5	4,799	3,000
Debtors		82,480	56,565
Cash at bank and in hand		71,212	66,836
		158,491	126,401
Prepayments and accrued income		3,087	2,783
Creditors: Amounts falling due within one year		(266,788)	(214,825)
Net current liabilities		(105,210)	(85,641)
Total assets less current liabilities		433,710	523,541
Creditors: Amounts falling due after more than one year		(67,823)	(83,566)
Provisions for liabilities		(40,930)	(57,816)
Accruals and deferred income		(741)	-
Net assets		324,216	382,159
Capital and reserves
Called up share capital		3	3
Other reserves		41,727	101,765
Retained earnings		282,486	280,391
Shareholders' funds		324,216	382,159

For the financial year ending 31 March 2026 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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.

Smiths Building Limited

(Registration number: 07030589)
Abridged Balance Sheet as at 31 March 2026

Approved and authorised by the Board on 27 October 2026 and signed on its behalf by:
 

......................................... Mr A Smith Director

......................................... Mr PM Smith Director

......................................... Mr CDP Jenkins Director

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

1	General information

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

The address of its registered office is:
Unit 22 Brickfield Industrial Estate
Gillingham
Dorset
SP8 4LT
England

These financial statements were authorised for issue by the Board on 27 October 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 abridged 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 abridged 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.

The presentation currency of the financial statements is the Pound Sterling (£) and rounded to the nearest £1.

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.

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.

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

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.

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

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
Long leasehold property	2% straight line method
Plant & machinery	25% reducing balance
Motor vehicles	15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

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.

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 11 (2025 - 9).

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

4	Tangible assets

	Long leasehold land and buildings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	215,536	84,417	95,135	395,088
Additions	-	21,952	-	21,952
At 31 March 2026	215,536	106,369	95,135	417,040
Depreciation
At 1 April 2025	5,388	42,163	33,355	80,906
Charge for the year	4,311	11,374	6,529	22,214
At 31 March 2026	9,699	53,537	39,884	103,120
Carrying amount
At 31 March 2026	205,837	52,832	55,251	313,920
At 31 March 2025	210,148	42,254	61,780	314,182

Included within plant & machinery are assets held under hire purchase agreement with a net book value of £24,927 (2024: £10,636). There are also assets included within motor vehicles held under hire purchase agreement with a net book value of £52,760 (2024: £58,850).

Investment properties

	2026 £
At 1 April	295,000
Fair value adjustments	(70,000)
At 31 March	225,000

The investment property was valued by an independent valuer in December 2025. If the investment property had not been revalued it would have been included at its historical cost of £169,364.

5

Stocks

	2026 £	2025 £
Raw materials and consumables	-	1,500
Work in progress	4,799	1,500
	4,799	3,000

6	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

The total amount of financial commitments not included in the balance sheet is £Nil (2025 - £275). The aforementioned financial commitments relate to vehicle operating leases.

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £136,934 (2025 - £120,041). The aforementioned financial commitments are made up of a Government backed COVID loan of £Nil (2025: £31,950), a mortgage of £54,755 (2025: £60,544) owing to Lloyds Bank PLC (charge number 0703 0589 002) which is secured against the property it relates to, hire purchase commitments of £46,076 (2025: £55,544) which are secured against the assets they relate to, net wage commitments of £Nil (2025: £3,060) and credit card commitments of £36,103 (2025: £10,879).

Included in the balance sheet are pensions of £1,174 (2025 - £879).

Smiths Building Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

7	Related party transactions

Transactions with directors

2026	At 1 April 2025 £	Advances to director £	Repayments by director £	At 31 March 2026 £
Mr A Smith
Interest free loan repayable on demand	3,468	13,091	(16,559)	-
	-	-	-	-
	3,468	13,091	(16,559)	-
Mr PM Smith
Interest free loan repayable on demand	1,826	9,117	(10,943)	-
	-	-	-	-
	1,826	9,117	(10,943)	-
Mr CDP Jenkins
Interest free loan repayable on demand	1,580	8,841	(10,421)	-
	-	-	-	-
	1,580	8,841	(10,421)	-

2025	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Mr A Smith
Interest free loan repayable on demand	(689)	9,469	(5,312)	3,468
	-	-	-	-
	(689)	9,469	(5,312)	3,468
Mr PM Smith
Interest free loan repayable on demand	(420)	7,600	(5,354)	1,826
	-	-	-	-
	(420)	7,600	(5,354)	1,826
Mr CDP Jenkins
Interest free loan repayable on demand	(234)	7,126	(5,312)	1,580
	-	-	-	-
	(234)	7,126	(5,312)	1,580