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REGISTERED NUMBER: SC516474 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Smith Property Rentals Ltd

Smith Property Rentals Ltd (Registered number: SC516474)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smith Property Rentals Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr I W Fairley
Mrs A Fairley





REGISTERED OFFICE: 46 Crown Crescent
Larbert
FK5 4XN





REGISTERED NUMBER: SC516474 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

Smith Property Rentals Ltd (Registered number: SC516474)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 6,144

CURRENT ASSETS
Debtors 5 - 42,700
Cash at bank 57,267 864
57,267 43,564
CREDITORS
Amounts falling due within one year 6 9,483 8,779
NET CURRENT ASSETS 47,784 34,785
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,784

40,929

PROVISIONS FOR LIABILITIES - 1,167
NET ASSETS 47,784 39,762

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 47,684 39,662
SHAREHOLDERS' FUNDS 47,784 39,762

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Property Rentals Ltd (Registered number: SC516474)

Balance Sheet - continued
30 September 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 13 November 2023 and were signed on its behalf by:




Mr I W Fairley - Director



Mrs A Fairley - Director


Smith Property Rentals Ltd (Registered number: SC516474)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Smith Property Rentals Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

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 NIL (2022 - NIL).

Smith Property Rentals Ltd (Registered number: SC516474)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2022 - 12,000 12,000
Additions 47,400 - 47,400
Disposals (47,400 ) (12,000 ) (59,400 )
At 30 September 2023 - - -
DEPRECIATION
At 1 October 2022 - 5,856 5,856
Eliminated on disposal - (5,856 ) (5,856 )
At 30 September 2023 - - -
NET BOOK VALUE
At 30 September 2023 - - -
At 30 September 2022 - 6,144 6,144

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors - 42,700

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Taxation and social security 3,049 2,740
Other creditors 6,434 6,039
9,483 8,779

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
Mr I W Fairley
Balance outstanding at start of year (4,810 ) (4,730 )
Amounts advanced - 100
Amounts repaid (180 ) (180 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,990 ) (4,810 )

Smith Property Rentals Ltd (Registered number: SC516474)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs A Fairley
Balance outstanding at start of year (440 ) (360 )
Amounts advanced - 100
Amounts repaid (180 ) (180 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (620 ) (440 )

8. RELATED PARTY DISCLOSURES

During the year the company made sales for the hire of equipment totalling £7,200 (2022 - £15,600) to Milrec UK Limited, a company of which Mr I W Fairley and Mrs A Fairley are directors and majority shareholders. Payments during the year amounted to £47,400 (2022 - £3,600) and £2,500 was written off when Milrec UK Limited went into liquidation on 3 August 2023. The outstanding balance in Trade debtors at the Balance Sheet date is £nil (2022 - £42,700).

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the shareholders.