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REGISTERED NUMBER: 09032942 (England and Wales)















SMYTH & WHITE PROPERTY PARTNERSHIP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023






SMYTH & WHITE PROPERTY PARTNERSHIP LTD (REGISTERED NUMBER: 09032942)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMYTH & WHITE PROPERTY PARTNERSHIP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr J L Smyth
Mrs L Smyth





REGISTERED OFFICE: Thornbank House
38 Moorgate Road
Rotherham
South Yorkshire
S60 2AG





REGISTERED NUMBER: 09032942 (England and Wales)






SMYTH & WHITE PROPERTY PARTNERSHIP LTD (REGISTERED NUMBER: 09032942)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 13,080 100
Investment property 5 1,213,218 510,000
1,226,298 510,100

CURRENT ASSETS
Debtors 6 53,024 90,223
Cash at bank and in hand 21,046 266,047
74,070 356,270
CREDITORS
Amounts falling due within one year 7 469,108 452,659
NET CURRENT LIABILITIES (395,038 ) (96,389 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

831,260

413,711

CREDITORS
Amounts falling due after more than one
year

8

(620,491

)

(217,312

)

PROVISIONS FOR LIABILITIES (30,257 ) (22,995 )
NET ASSETS 180,512 173,404

CAPITAL AND RESERVES
Called up share capital 100 100
Undistributable reserves 10 123,077 130,339
Retained earnings 10 57,335 42,965
SHAREHOLDERS' FUNDS 180,512 173,404

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

SMYTH & WHITE PROPERTY PARTNERSHIP LTD (REGISTERED NUMBER: 09032942)

BALANCE SHEET - continued
31 MARCH 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 J L Smyth - Director


SMYTH & WHITE PROPERTY PARTNERSHIP LTD (REGISTERED NUMBER: 09032942)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Smyth & White Property Partnership Ltd 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.

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 as modified by the revaluation of certain assets.

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

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.

Going concern
At the balance sheet date the company had net current liabilities of £395,038 (2022 - £96,389). The company is dependent upon the continued financial support of its directors and other creditors. Given the continuance of this support the directors consider it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022 100
Additions 12,980
At 31 March 2023 13,080
NET BOOK VALUE
At 31 March 2023 13,080
At 31 March 2022 100

SMYTH & WHITE PROPERTY PARTNERSHIP LTD (REGISTERED NUMBER: 09032942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 510,000
Additions 703,218
At 31 March 2023 1,213,218
NET BOOK VALUE
At 31 March 2023 1,213,218
At 31 March 2022 510,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2015 26,350
Valuation in 2018 124,308
Cost 1,062,560
1,213,218

Investment properties were revalued on an open market basis by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,324 3,523
Other debtors 43,700 86,700
53,024 90,223

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 17,223 13,624
Trade creditors 2,449 565
Taxation and social security 3,369 1,267
Other creditors 446,067 437,203
469,108 452,659

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 620,491 217,312

SMYTH & WHITE PROPERTY PARTNERSHIP LTD (REGISTERED NUMBER: 09032942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 534,378 149,191

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 637,714 230,936
Other loans 215,000 290,000
852,714 520,936

Bank and other loans are secured on the company's investment properties.

10. RESERVES
Retained Undistributable
earnings reserves Totals
£    £    £   

At 1 April 2022 42,965 130,339 173,304
Profit for the year 7,108 7,108
Investment property 7,262 (7,262 ) -
At 31 March 2023 57,335 123,077 180,412

11. ULTIMATE CONTROLLING PARTY

The company is controlled jointly by it's directors whom own all of the issued share capital. It is therefore considered that there is no ultimate controlling party.