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Company registration number: 10732503
SMMB Property Limited
Unaudited filleted financial statements
30 April 2023
SMMB Property Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
SMMB Property Limited
Directors and other information
Director P Bloom
Secretary S Macauley
Company number 10732503
Registered office 20 Sunningdale Close
Stanmore
HA7 3QL
Accountants Passer & Co
20 Sunningdale Close
Stanmore
Middlesex
HA7 3QL
SMMB Property Limited
Statement of financial position
30 April 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 270,134 270,134
_______ _______
270,134 270,134
Current assets
Cash at bank and in hand 1,570 43,085
_______ _______
1,570 43,085
Creditors: amounts falling due
within one year 6 ( 65,327) ( 103,827)
_______ _______
Net current liabilities ( 63,757) ( 60,742)
_______ _______
Total assets less current liabilities 206,377 209,392
Creditors: amounts falling due
after more than one year 7 ( 240,000) ( 240,000)
_______ _______
Net liabilities ( 33,623) ( 30,608)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 33,723) ( 30,708)
_______ _______
Shareholders deficit ( 33,623) ( 30,608)
_______ _______
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 October 2023 , and are signed on behalf of the board by:
P Bloom
Director
Company registration number: 10732503
SMMB Property Limited
Statement of changes in equity
Year ended 30 April 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 May 2021 100 ( 26,776) ( 26,676)
Loss for the year ( 3,932) ( 3,932)
_______ _______ _______
Total comprehensive income for the year - ( 3,932) ( 3,932)
_______ _______ _______
At 30 April 2022 and 1 May 2022 100 ( 30,708) ( 30,608)
Loss for the year ( 3,015) ( 3,015)
_______ _______ _______
Total comprehensive income for the year - ( 3,015) ( 3,015)
_______ _______ _______
At 30 April 2023 100 ( 33,723) ( 33,623)
_______ _______ _______
SMMB Property Limited
Notes to the financial statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Sunningdale Close, Stanmore, HA7 3QL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Freehold property Total
£ £
Cost
At 1 May 2022 and 30 April 2023 270,134 270,134
_______ _______
Depreciation
At 1 May 2022 and 30 April 2023 - -
_______ _______
Carrying amount
At 30 April 2023 270,134 270,134
_______ _______
At 30 April 2022 270,134 270,134
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts - 50,000
Other creditors 65,327 53,827
_______ _______
65,327 103,827
_______ _______
7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 240,000 240,000
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
P Bloom ( 1,061) ( 36,603) ( 37,664)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
P Bloom - ( 1,061) ( 1,061)
_______ _______ _______
9. Controlling party
The Company is controlled by the Director by virtue of his majority share holding.