SMITH & CO ACCOUNTANTS LIMITED

SMITH & CO ACCOUNTANTS LIMITED

SMITH & CO ACCOUNTANTS LIMITED - Company Information

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SMITH & CO ACCOUNTANTS LIMITED

Company Registration Number:
07602208 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2021

Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

SMITH & CO ACCOUNTANTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2021

Balance sheet
Notes

SMITH & CO ACCOUNTANTS LIMITED

Balance sheet

As at 31 March 2021


Notes
2021
2020


£
£
Fixed assets
Intangible assets: 3 256,311 276,037
Tangible assets: 4 25,170 30,618
Total fixed assets: 281,481 306,655
Current assets
Debtors:   132,755 158,386
Cash at bank and in hand: 351,004 158,733
Total current assets: 483,759 317,119
Creditors: amounts falling due within one year:   (166,473) (147,132)
Net current assets (liabilities): 317,286 169,987
Total assets less current liabilities: 598,767 476,642
Creditors: amounts falling due after more than one year: 5 (319,632) (341,850)
Total net assets (liabilities): 279,135 134,792
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 279,125 134,782
Shareholders funds: 279,135 134,792

The notes form part of these financial statements

SMITH & CO ACCOUNTANTS LIMITED

Balance sheet statements

For the year ending 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 July 2021
and signed on behalf of the board by:

Name: P Smith
Status: Director

The notes form part of these financial statements

SMITH & CO ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.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:Fixtures & Fittings - 25% straight lineOffice Equipment - 25% straight line

Intangible fixed assets and amortisation policy

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:Goodwill - 6% straight lineIf there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates

SMITH & CO ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

2. Employees

2021 2020
Average number of employees during the period 15 15

SMITH & CO ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

3. Intangible Assets

Total
Cost £
At 01 April 2020 295,754
At 31 March 2021 295,754
Amortisation
At 01 April 2020 19,717
Charge for year 19,726
At 31 March 2021 39,443
Net book value
At 31 March 2021 256,311
At 31 March 2020 276,037

SMITH & CO ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

4. Tangible Assets

Total
Cost £
At 01 April 2020 43,055
Additions 5,429
At 31 March 2021 48,484
Depreciation
At 01 April 2020 12,437
Charge for year 10,877
At 31 March 2021 23,314
Net book value
At 31 March 2021 25,170
At 31 March 2020 30,618

SMITH & CO ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

5. Creditors: amounts falling due after more than one year note

Included in creditors due after one year is a balance owing to the shareholders of £259,708