Smith Baxter Ltd - Accounts to registrar - small 17.2
Smith Baxter Ltd - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| SMITH BAXTER LTD |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2017 |
| SMITH BAXTER LTD (REGISTERED NUMBER: 03285016) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| SMITH BAXTER LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JANUARY 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SMITH BAXTER LTD (REGISTERED NUMBER: 03285016) |
| BALANCE SHEET |
| 31 JANUARY 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 on |
| SMITH BAXTER LTD (REGISTERED NUMBER: 03285016) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2017 |
| 1. | STATUTORY INFORMATION |
| Smith Baxter Ltd is a |
| company's registered number and registered office address can be found on the Company Information |
| page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small |
| Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK |
| and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared |
| under the historical cost convention. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Taxation |
| Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the |
| current or past reporting periods using tax rates that have been enacted or substantively enacted by |
| the reporting date. |
| Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax |
| losses and other deferred tax assets are recognised only to the extent that it is probable that they will |
| be recovered against future taxable profits or against the reversal of deferred tax liabilities. |
| Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the |
| reporting date that are expected to apply to the reversal of the timing difference. |
| 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. |
| Trade and other receivables |
| Trade and other receivables are measured at transaction price less any impairment unless the |
| arrangement constitutes a financing transaction in which case the transaction is measured at the |
| present value of the future receipts discounted at the prevailing market rate of interest . Loans are |
| initially measured at fair value and are subsequently measured at amortised cost using the effective |
| interest method less any impairment. |
| Trade and other payables |
| Trade and other payables are measured at their transaction price unless the arrangement constitutes a |
| financing transaction in which case the transaction is measured at present value of future payments |
| discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair |
| value net of their transaction costs. They are subsequently measured at amortised cost using the |
| effective interest method. |
| SMITH BAXTER LTD (REGISTERED NUMBER: 03285016) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 February 2016 |
| and 31 January 2017 |
| DEPRECIATION |
| At 1 February 2016 |
| Charge for year |
| At 31 January 2017 |
| NET BOOK VALUE |
| At 31 January 2017 |
| At 31 January 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Deferred tax asset |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| The loan is supported by a personal guarantee from the director, P D Smith |
| SMITH BAXTER LTD (REGISTERED NUMBER: 03285016) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2017 |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| Between one and five years |
| 8. | RELATED PARTY DISCLOSURES |
| The company paid dividends of £102,742 (2016 - £142,100) to P D Smith. |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company's ultimate controlling party during the year was P D Smith. |
| 10. | FIRST YEAR ADOPTION |
| The Company transitioned to FRS102 from the previous UK GAAP as at 1 February 2015. No |
| financial measurement changes have taken place as a result of the transition and accordingly there |
| are no differences in the equity position as at 1 February 2015 or 31 January 2016 and no changes to |
| the profit or loss determined under previous UK GAAP. |