Registered number
03582895
SMS INVESTMENTS LIMITED
Filleted Accounts
30 June 2023
SMS INVESTMENTS LIMITED
Registered number: 03582895
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 442,525 442,525
Investments 4 333 333
442,858 442,858
Current assets
Debtors 5 462,148 467,042
Cash at bank and in hand 138,083 119,543
600,231 586,585
Creditors: amounts falling due within one year 6 (27,541) (23,520)
Net current assets 572,690 563,065
Total assets less current liabilities 1,015,548 1,005,923
Creditors: amounts falling due after more than one year 7 (481,208) (487,045)
Net assets 534,340 518,878
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 533,340 517,878
Shareholders' funds 534,340 518,878
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H D Thakker
Director
Approved by the board on 20 November 2023
SMS INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Investment properties are included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Transitional exemption advantage has been taken to include fair value or revaluation as deemed cost as fair value cannot be measured reliably.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2022 442,525
At 30 June 2023 442,525
Depreciation
At 30 June 2023 -
Net book value
At 30 June 2023 442,525
At 30 June 2022 442,525
4 Investments
Other
investments
£
Cost
At 1 July 2022 333
At 30 June 2023 333
The investment of £333 represent holdings of under 20% in each of the three companies. These companies have been loaned £333,858 (2022: £358,858) as disclosed in debtors. The additional represents holding of 33.33%. This company has been loaned £102,767, disclosed in debtors.
The company holds 33.33% shareholding in PRH Estates Ltd (incorporated in England). The accounts of this company for the year ended 31 March 2023 showed Capital and Reserves of £111,435 and Profit for the year of £11,789.
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 436,625 461,625
Shareholder's account (repaid after year end) 24,348 -
Other debtors 1,175 5,417
462,148 467,042
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,000 6,000
Corporation tax 7,550 3,921
Other creditors and accruals 13,991 13,599
27,541 23,520
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 481,208 487,045
8 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 455,000 455,000
Instalments falling due for payment after more than five years 10,521 12,409
465,521 467,409
Secured bank loans 487,208 493,045
The loans are secured by first charge over the investment properties and floating charge over other assets of the company. The loan of £455,000 is repayable by 5 July 2027 and it is on interest only basis at 2.25% over the base rate. £11,687 loan is repayable by 2025. The balance of loan is on a repayment basis repayable by 14 July 2031.
9 Other information
SMS INVESTMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Compton House
20(b) Selsdon Road
South Croydon
Surrey
CR2 6PA
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