| Smithwell Ltd |
|
| Report to the directors on the preparation of the unaudited statutory accounts of Smithwell Ltd for the year ended 31 March 2023 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Smithwell Ltd for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/ |
| Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
| Coalesco Accountants Limited |
| Chartered Certified Accountants |
| 156 Russell Drive |
| Wollaton |
| Nottingham |
| Nottinghamshire |
| NG8 2BE |
|
| 24 November 2023 |
|
| Smithwell Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2023 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Fixtures, fittings, tools and equipment |
33% reducing balance |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
| 2 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 April 2022 |
19,031 |
|
Additions |
2,328 |
|
At 31 March 2023 |
21,359 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2022 |
13,435 |
|
Charge for the year |
2,615 |
|
At 31 March 2023 |
16,050 |
|
|
|
|
|
|
|
|
|
|
Net book value |
5,309 |
|
At 31 March 2023 |
5,309 |
|
At 31 March 2022 |
5,596 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade debtors |
11,258 |
|
23,423 |
|
Other debtors |
635 |
|
635 |
|
|
|
|
|
|
11,893 |
|
24,058 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Corporation tax |
26,081 |
|
19,592 |
|
Other taxes and social security costs |
7,730 |
|
6,328 |
|
Other creditors |
1,024 |
|
1,024 |
|
|
|
|
|
|
34,835 |
|
26,944 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Smithwell Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Willow Cottage |
|
Wymeswold Road |
|
Wysall |
|
Nottingham |
|
NG12 5QU |
