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REGISTERED NUMBER: 10866748 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

SMF ESTATES LIMITED

SMF ESTATES LIMITED (REGISTERED NUMBER: 10866748)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SMF ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Mr S M Farrow





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 10866748 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

SMF ESTATES LIMITED (REGISTERED NUMBER: 10866748)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 187 249
Investment property 5 415,000 415,000
415,187 415,249

CURRENT ASSETS
Debtors 6 2,997 3,019
Cash at bank 1,947 1,292
4,944 4,311
CREDITORS
Amounts falling due within one year 7 225,715 138,666
NET CURRENT LIABILITIES (220,771 ) (134,355 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

194,416

280,894

CREDITORS
Amounts falling due after more than one
year

8

(147,470

)

(227,470

)

PROVISIONS FOR LIABILITIES (17,185 ) (13,061 )
NET ASSETS 29,761 40,363

CAPITAL AND RESERVES
Called up share capital 9 150 150
Special reserve 10 52,809 56,933
Retained earnings (23,198 ) (16,720 )
SHAREHOLDERS' FUNDS 29,761 40,363

SMF ESTATES LIMITED (REGISTERED NUMBER: 10866748)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 29 January 2024 and were signed by:





Mr S M Farrow - Director


SMF ESTATES LIMITED (REGISTERED NUMBER: 10866748)

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


1. STATUTORY INFORMATION

SMF Estates Limited 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

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.

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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

SMF ESTATES LIMITED (REGISTERED NUMBER: 10866748)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
Cost
At 1 August 2022
and 31 July 2023 766
Depreciation
At 1 August 2022 517
Charge for year 62
At 31 July 2023 579
Net book value
At 31 July 2023 187
At 31 July 2022 249

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 August 2022
and 31 July 2023 415,000
Net book value
At 31 July 2023 415,000
At 31 July 2022 415,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2022 69,994
Cost 345,006
415,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,946 2,946
Prepayments and accrued income 51 73
2,997 3,019

SMF ESTATES LIMITED (REGISTERED NUMBER: 10866748)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 218,000 131,500
Directors' current accounts 6,239 5,924
Accruals and deferred income 1,476 1,242
225,715 138,666

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 147,470 227,470

Bank loans includes £227,470 secured by way of a fixed first charge over the underlying assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
50 Ordinary class A £1 50 50
150 150

10. RESERVES
Special
reserve
£   
At 1 August 2022 56,933
Special Reserve (4,124 )

At 31 July 2023 52,809