Company registration number 10784297 (England and Wales)
ROBERT & DIANA SMITH TRADING LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
ROBERT & DIANA SMITH TRADING LIMITED
COMPANY INFORMATION
Directors
Mr Jonathan Gain
Mr Daryl Hine
Ms Claire Taylor
Secretary
Tricor Secretaries Limited
Company number
10784297
Registered office
Kendal House
1 Conduit Street
London
United Kingdom
W1S 2XA
ROBERT & DIANA SMITH TRADING LIMITED
CONTENTS
Page
Directors' report
1
Profit and loss account
2
Balance sheet
3
Notes to the financial statements
4 - 6
ROBERT & DIANA SMITH TRADING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2021.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr Jonathan Gain
Mr Daryl Hine
Ms Claire Taylor
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption within Part 15 of the Companies Act 2006.

On behalf of the board
Ms Claire Taylor
Director
1 September 2022
ROBERT & DIANA SMITH TRADING LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
2021
2020
£
£
Turnover
-
-
Administrative expenses
(571)
(681)
Operating loss
(571)
(681)
Gains on investments
3,339
607
Profit/(loss) before taxation
2,768
(74)
Tax on profit/(loss)
-
0
-
0
Profit/(loss) for the financial year
2,768
(74)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

The notes on pages 4 to 6 form an integral part of the financial statements.
ROBERT & DIANA SMITH TRADING LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2021
31 December 2021
- 3 -
2021
2020
Notes
£
£
£
£
Fixed assets
Interests in partnerships
3
41,205
43,823
Current assets
Cash at bank and in hand
9,377
4,499
Net current assets
9,377
4,499
Total assets less current liabilities
50,582
48,322
Capital and reserves
Called up share capital
4
25,510
25,510
Share premium account
24,490
24,490
Revaluation reserve
5
(1,071)
(563)
Profit and loss reserves
1,653
(1,115)
Total equity
50,582
48,322
The notes on pages 4 to 6 form an integral part of these financial statements.

For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 1 September 2022 and are signed on its behalf by:
Ms Claire Taylor
Director
Company Registration No. 10784297
ROBERT & DIANA SMITH TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
1
Accounting policies
Company information

Robert & Diana Smith Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kendal House, 1 Conduit Street, London, United Kingdom, W1S 2XA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Fixed assets

Classification

The company classifies its interests in partnerships as financial assets at fair value through profit or loss.

 

Recognition, derecognition and measurement

Purchases and deposits of the interests are recognized on the trade date – the date on which the company commits to purchase or sell the interest. Interests in partnerships at fair value through profit or loss are initially recognized at fair value.

 

Interests in partnerships are derecognized when the rights to receive cash flows from the interests have expired or the company has transferred substantially all risks and rewards of ownership.

 

Subsequent to initial recognition, all interests in partnerships at fair value through profit or loss are measured at fair value. Gains and losses arising from changes in the fair value of the financial assets are presented in the Statement of Comprehensive Income within fair value movements in the period in which they arise.

 

The partnerships which the company invests in are not traded in an active market and their fair value is determined by using the Net Asset Value (NAV) of the partnerships at any given date, being the best estimate of the amount that the investment will realise. The directors believe that this is the indicative of the fair value of the company’s share of its interests in the partnerships.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ROBERT & DIANA SMITH TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was nil (2020: nil).

3
Fixed assets
2021
2020
£
£
Interests in partnerships
41,205
43,823
Movement in fixed assets
Interests in partnerships
£
Cost or valuation
At 1 January 2021
43,823
Additions
7,505
Valuation changes
(508)
Disposals
(9,615)
At 31 December 2021
41,205
Carrying amount
At 31 December 2021
41,205
At 31 December 2020
43,823
4
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 50p each
51,020
51,020
25,510
25,510
ROBERT & DIANA SMITH TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
5
Revaluation reserve
2021
2020
£
£
At the beginning of the year
(563)
2,121
Fair value adjustment to investments
(508)
(2,684)
At the end of the year
(1,071)
(563)
2021-12-312021-01-01falseCCH SoftwareCCH Accounts Production 2022.200Other professional, scientific and technical activities not elsewhere classified.
Mr Jonathan GainMr Daryl HineMr Daryl HineTricor Secretaries Limited0
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