S.Smith & Co.(Downham Road) Limited - Period Ending 2018-02-28
S.Smith & Co.(Downham Road) Limited - Period Ending 2018-02-28
Registration number:
S.Smith & Co.(Downham Road) Limited
for the Year Ended 28 February 2018
S.Smith & Co.(Downham Road) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
S.Smith & Co.(Downham Road) Limited
Company Information
Director |
GA Charles |
Registered office |
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Accountants |
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Page 1 |
S.Smith & Co.(Downham Road) Limited
(Registration number: 00582544)
Balance Sheet as at 28 February 2018
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2018 |
2017 |
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Current assets |
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Stocks |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
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S.Smith & Co.(Downham Road) Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.
Trade debtors
Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Creditors with no stated interest rate and payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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S.Smith & Co.(Downham Road) Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
Stocks |
2018 |
2017 |
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Finished goods and goods for resale |
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Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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5,000 |
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5,000 |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
At the year end there was a contingent liability for an estimated amount of £100,000 against the freeholder in respect of a dispute over the commercial premises.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
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