Smithcem K'5 Limited 31/12/2021 iXBRL

Smithcem K'5 Limited 31/12/2021 iXBRL

SMITHCEM K'5 LIMITED - Company Information

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1 31/12/2021 2021-12-31 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2021-01-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05161259 2021-01-01 2021-12-31 05161259 2021-12-31 05161259 2020-12-31 05161259 2020-01-01 2020-12-31 05161259 2020-12-31 05161259 core:PlantMachinery 2021-01-01 2021-12-31 05161259 bus:RegisteredOffice 2021-01-01 2021-12-31 05161259 bus:Director1 2021-01-01 2021-12-31 05161259 bus:Director2 2021-01-01 2021-12-31 05161259 bus:Director3 2021-01-01 2021-12-31 05161259 bus:Director4 2021-01-01 2021-12-31 05161259 bus:Director5 2021-01-01 2021-12-31 05161259 bus:CompanySecretary1 2021-01-01 2021-12-31 05161259 core:LandBuildings core:OwnedOrFreeholdAssets 2020-12-31 05161259 core:PlantMachinery 2020-12-31 05161259 core:LandBuildings core:OwnedOrFreeholdAssets 2021-12-31 05161259 core:PlantMachinery 2021-12-31 05161259 core:WithinOneYear 2021-12-31 05161259 core:WithinOneYear 2020-12-31 05161259 core:LandBuildings core:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05161259 core:ShareCapital 2021-12-31 05161259 core:ShareCapital 2020-12-31 05161259 core:RetainedEarningsAccumulatedLosses 2021-12-31 05161259 core:RetainedEarningsAccumulatedLosses 2020-12-31 05161259 core:LandBuildings core:OwnedOrFreeholdAssets 2020-12-31 05161259 core:PlantMachinery 2020-12-31 05161259 bus:Director1 2020-12-31 05161259 bus:Director1 2021-12-31 05161259 bus:Director1 2019-12-31 05161259 bus:Director1 2020-12-31 05161259 bus:Director1 2020-01-01 2020-12-31 05161259 bus:SmallEntities 2021-01-01 2021-12-31 05161259 bus:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 05161259 bus:FullAccounts 2021-01-01 2021-12-31 05161259 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 05161259 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 05161259 1 2021-01-01 2021-12-31
Company registration number: 05161259
Smithcem K'5 Limited
Trading as Smithcem K'5 Limited
Unaudited filleted financial statements
31 December 2021
Smithcem K'5 Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Smithcem K'5 Limited
Directors and other information
Director Mr Kenneth Smith
Mr Chesney Smith
Mr Timothy Phipps
Mr Jason Phipps
Miss Bonnie Smith
Secretary Kenneth Smith
Company number 05161259
Registered office 95 Boston Road
Sleaford
Lincolnshire
NG34 7HP
Smithcem K'5 Limited
Statement of financial position
31 December 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 5 219,928 101,091
_______ _______
219,928 101,091
Current assets
Stocks 300 300
Debtors 6 115 115
Investments 7 - 7,500
Cash at bank and in hand 12,329 67,977
_______ _______
12,744 75,892
Creditors: amounts falling due
within one year 8 ( 132,869) ( 74,236)
_______ _______
Net current (liabilities)/assets ( 120,125) 1,656
_______ _______
Total assets less current liabilities 99,803 102,747
_______ _______
Net assets 99,803 102,747
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 99,703 102,647
_______ _______
Shareholder funds 99,803 102,747
_______ _______
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 September 2022 , and are signed on behalf of the board by:
Mr Kenneth Smith
Director
Company registration number: 05161259
Smithcem K'5 Limited
Notes to the financial statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 95 Boston Road, Sleaford, Lincolnshire, NG34 7HP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents amounts chargeable by the company for goods and services provided during the year.
Taxation
The charge for taxation is based on the profit or loss for the year.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
The company only holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets-trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepaymenst are not financial instruments. Cash at bank is classifies as a basic financial instrument and is measured at amortised cost. Financial liabilities-trade creditors, accruals and othercreditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2020: 1 ).
5. Tangible assets
Freehold property Plant and machinery Total
£ £ £
Cost
At 1 January 2021 100,981 400 101,381
Additions 214,734 6,000 220,734
Disposals ( 100,981) - ( 100,981)
_______ _______ _______
At 31 December 2021 214,734 6,400 221,134
_______ _______ _______
Depreciation
At 1 January 2021 - 290 290
Charge for the year - 916 916
_______ _______ _______
At 31 December 2021 - 1,206 1,206
_______ _______ _______
Carrying amount
At 31 December 2021 214,734 5,194 219,928
_______ _______ _______
At 31 December 2020 100,981 110 101,091
_______ _______ _______
6. Debtors
2021 2020
£ £
Other debtors 115 115
_______ _______
7. Investments
2021 2020
£ £
Other investments 1 - 7,500
_______ _______
The 150 ordinary £50 shares in Properties for Pensions Limited, a company iin which the director Kenneth Smith has a material interest and serves as a director were sold for £10,075.
8. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 593 743
Corporation tax 76 3,534
Other creditors 132,200 69,959
_______ _______
132,869 74,236
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Kenneth Smith ( 69,959) ( 63,400) 1,159 ( 132,200)
_______ _______ _______ _______
2020
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Kenneth Smith ( 58,103) ( 12,420) 564 ( 69,959)
_______ _______ _______ _______
10. Controlling party
During the year the director Kenneth Smith controlled the company by virtue of a controlling interest of 100% of the issued share capital.