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Registration number: NI650994

SMP Holdings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

SMP Holdings Ltd

(Registration number: NI650994)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

135,374

50

Current assets

 

Debtors

5

304,368

269,692

Cash at bank and in hand

 

4,550

49,729

 

308,918

319,421

Creditors: Amounts falling due within one year

6

(442,478)

(322,002)

Net current liabilities

 

(133,560)

(2,581)

Net assets/(liabilities)

 

1,814

(2,531)

Capital and reserves

 

Called up share capital

7

300

300

Retained earnings

1,514

(2,831)

Shareholders' funds/(deficit)

 

1,814

(2,531)

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2023 and signed on its behalf by:
 

.........................................
Mr Paul Cooper
Director

 

SMP Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 155 Andersonstown Road, Belfast, Co. Antrim, BT11 9EA.

These financial statements were authorised for issue by the Board on 25 September 2023.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 3).

 

SMP Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Investments

2023
£

2022
£

Investments in associates

135,374

50

5

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

8

304,368

269,692

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Directors current account

237,597

317,221

Accruals and deferred income

600

500

Other creditors

204,281

4,281

442,478

322,002

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

300

300

300

300

         
 

SMP Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Related party transactions

2023
£

2022
 £

Directors current account

(237,597)

(317,221)

Included in debtors is an amount of £304,368 (2022: £269,692) owed to the company by an associated company Greencastle Pharmacy Ltd.

Included in other creditors is an amount of £200,000 (2022: £nil) owed by the company to an associated company Galar Ireland Ltd.