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SMFI Limited |
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Audited Financial Statements for the Year Ended 30 June 2021 |
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SMFI Limited |
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Audited Financial Statements for the Year Ended 30 June 2021 |
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SMFI Limited |
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Company Information |
for the Year Ended 30 June 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY
AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Radnor House |
Greenwood Close |
Cardiff Gate Business Park |
Cardiff |
CF23 8AA |
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BANKERS: |
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56 Queen Street |
Cardiff |
CF10 2PX |
SMFI Limited (Registered number: 06819876) |
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Balance Sheet |
30 June 2021 |
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2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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SMFI Limited (Registered number: 06819876) |
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Balance Sheet - continued |
30 June 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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SMFI Limited (Registered number: 06819876) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2021 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the invoiced value of goods & services, excluding value added tax, in relation to the design, manufacture and installation of commercial media display solutions and street furniture. |
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Government grants |
Government grants are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Pension costs |
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. |
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Work in progress |
Work in progress is valued at an appropriate turnover value which takes into account accrued profits or losses. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors & prepayments |
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SMFI Limited (Registered number: 06819876) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Taxes & social security costs |
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Other creditors & accruals |
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5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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6. | CONTINGENT LIABILITIES |
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There is an unlimited inter company HSBC bank cross guarantee between this company, its ultimate parent undertaking, BSW Holdings Limited, and its fellow subsidiaries, BSW Systems Limited and Bus Shelters Limited. At the balance sheet date the amount of net bank borrowings in respect of these companies was £0 (2020 - £874,690). |
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As at the balance date the company bankers had issued performance bonds, guarantees and indemnities to other group companies (covered by the cross guarantee) to the amount of £30,000 (2020 - £30,000). |
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7. | ULTIMATE PARENT UNDERTAKING |
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The company's ultimate parent undertaking at the balance sheet date was BSW Holdings Limited. |