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REGISTERED NUMBER: 02147364 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Smith Investments (Cheltenham) Limited

Smith Investments (Cheltenham) Limited (Registered number: 02147364)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smith Investments (Cheltenham) Limited

Company Information
for the Year Ended 31 July 2023







Directors: Mrs V M Smith
Mr C J Smith





Secretary: Mrs V M Smith





Registered office: The Flower House
Stanley Road
Cheltenham
Gloucestershire
GL52 6PD





Registered number: 02147364 (England and Wales)





Accountants: Crowthers Chartered Accountants
15 St Georges Road
Cheltenham
Gloucestershire
GL50 3DT

Smith Investments (Cheltenham) Limited (Registered number: 02147364)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,486 2,046
Investment property 5 1,020,000 1,020,000
1,021,486 1,022,046

CURRENT ASSETS
Cash at bank 2,765 43,092

CREDITORS
Amounts falling due within one year 6 87,320 100,301
NET CURRENT LIABILITIES (84,555 ) (57,209 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

936,931

964,837


PROVISIONS FOR LIABILITIES 282 130

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 570,271 570,271
Retained earnings 366,278 394,336
936,649 964,707
936,931 964,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Smith Investments (Cheltenham) Limited (Registered number: 02147364)

Balance Sheet - continued
31 July 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by:





Mr C J Smith - Director


Smith Investments (Cheltenham) Limited (Registered number: 02147364)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Smith Investments (Cheltenham) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Smith Investments (Cheltenham) Limited (Registered number: 02147364)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 August 2022
and 31 July 2023 4,807
Depreciation
At 1 August 2022 2,761
Charge for year 560
At 31 July 2023 3,321
Net book value
At 31 July 2023 1,486
At 31 July 2022 2,046

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 August 2022
and 31 July 2023 1,020,000
Net book value
At 31 July 2023 1,020,000
At 31 July 2022 1,020,000

Investment property was valued on an open market basis on 31/07/2021 by the directors of the company. The directors have agreed that the value of the properties has not materially changed since this date.

If investment properties had not been revalued they would have been included at the following historical cost: £449,729.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 74,975 74,975
Trade creditors 3,370 3,761
Taxation and social security 6,487 14,134
Other creditors 2,488 7,431
87,320 100,301

Smith Investments (Cheltenham) Limited (Registered number: 02147364)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 74,975 74,975

The above loan is secured against investment property held by the company.

8. RESERVES
Fair
value
reserve
£   
At 1 August 2022
and 31 July 2023 570,271