Smith Kelland Limited - Accounts to registrar (filleted) - small 22.3

Smith Kelland Limited - Accounts to registrar (filleted) - small 22.3

SMITH KELLAND LIMITED - Company Information

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REGISTERED NUMBER: 08188529 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

FOR

SMITH KELLAND LIMITED
SMITH KELLAND LIMITED (REGISTERED NUMBER: 08188529)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMITH KELLAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2022







DIRECTOR: K A Smith





REGISTERED OFFICE: Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR





REGISTERED NUMBER: 08188529 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR
Page 1
SMITH KELLAND LIMITED (REGISTERED NUMBER: 08188529)

BALANCE SHEET
31 AUGUST 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 78 457

CURRENT ASSETS
Debtors 6 2,855 3,105
Cash at bank 10,900 6,918
13,755 10,023
CREDITORS
Amounts falling due within one year 7 30,176 34,998
NET CURRENT LIABILITIES (16,421 ) (24,975 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(16,343
)
(24,518
)

PROVISIONS FOR LIABILITIES 8 - 87
NET LIABILITIES (16,343 ) (24,605 )

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings (16,543 ) (24,805 )
SHAREHOLDERS' FUNDS (16,343 ) (24,605 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 notes form part of these financial statements

Page 2 continued...
SMITH KELLAND LIMITED (REGISTERED NUMBER: 08188529)

BALANCE SHEET - continued
31 AUGUST 2022


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 by the director and authorised for issue on 7 November 2022 and were signed by:





K A Smith - Director


The notes form part of these financial statements

Page 3
SMITH KELLAND LIMITED (REGISTERED NUMBER: 08188529)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

1. STATUTORY INFORMATION

Smith Kelland 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

During the period the company made of a profit after tax of £32,262 and had a net deficiency in reserves of £16,343 at the balance sheet date.

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.


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SMITH KELLAND LIMITED (REGISTERED NUMBER: 08188529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2022

3. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Coronavirus job retention scheme
The Coronavirus Job Retention Scheme (CJRS) is a government wage support measure. It is designed to protect jobs in the wake of the economic impacts of the COVID-19 pandemic, and to support employers to continue paying wages. The CJRS allows employers to reclaim up to 80% of the wage costs of 'furloughed employees,' being those directly impacted by the pandemic, up to a cap of £2,500 per month per employee.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 2 ) .

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
Cost
At 1 September 2021
and 31 August 2022 1,149
Depreciation
At 1 September 2021 692
Charge for year 379
At 31 August 2022 1,071
Net book value
At 31 August 2022 78
At 31 August 2021 457

Page 5 continued...
SMITH KELLAND LIMITED (REGISTERED NUMBER: 08188529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 422 422
Prepayments 2,433 2,683
2,855 3,105

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Corporation tax 8,305 11,459
VAT 15,912 6,201
Other creditors 1,155 793
Director's loan account 4,804 16,545
30,176 34,998

8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax - 87

Deferred
tax
£   
Balance at 1 September 2021 87
Capital allowances in excess
of depreciation (87 )
Balance at 31 August 2022 -

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
200 Ordinary £1 200 200

10. RELATED PARTY DISCLOSURES

Included within creditors is an amount of £4,804 (2021: £16,545) due to K A Smith, director. No interest has been charged on this balance during the year (2021: £Nil) and there are no set repayment terms.

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