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REGISTERED NUMBER: 02365316 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

SMITH BROTHERS (TAMWORTH) PROPERTIES
LIMITED

SMITH BROTHERS (TAMWORTH) PROPERTIES
LIMITED (REGISTERED NUMBER: 02365316)






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 BROTHERS (TAMWORTH) PROPERTIES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mr R Smith
Mr M J Smith





SECRETARY: Mr M J Smith





REGISTERED OFFICE: Brockhurst
Brockhurst Lane
Canwell
Sutton Coldfield
West Midlands
B75 5SR





REGISTERED NUMBER: 02365316 (England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

SMITH BROTHERS (TAMWORTH) PROPERTIES
LIMITED (REGISTERED NUMBER: 02365316)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 51,138 16,332
Investments 6 2,325,857 2,255,972
Investment property 7 9,002,000 6,942,653
11,378,995 9,214,957

CURRENT ASSETS
Debtors 8 323,588 782,481
Investments 9 3,936,111 2,984,368
Cash at bank and in hand 442,766 1,318,295
4,702,465 5,085,144
CREDITORS
Amounts falling due within one year 10 257,135 403,907
NET CURRENT ASSETS 4,445,330 4,681,237
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,824,325

13,896,194

PROVISIONS FOR LIABILITIES 115,000 143,000
NET ASSETS 15,709,325 13,753,194

CAPITAL AND RESERVES
Called up share capital 11 1,100 1,100
Revaluation reserve 12 4,012,143 1,952,796
Fair value reserve 12 8,505 358,391
Retained earnings 12 11,687,577 11,440,907
SHAREHOLDERS' FUNDS 15,709,325 13,753,194

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 BROTHERS (TAMWORTH) PROPERTIES
LIMITED (REGISTERED NUMBER: 02365316)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





Mr M J Smith - Director


SMITH BROTHERS (TAMWORTH) PROPERTIES
LIMITED (REGISTERED NUMBER: 02365316)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Smith Brothers (Tamworth) Properties 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Turnover
Turnover represents revenue recognised by the company in respect of rents receivable during the period, excluding value added tax. Rents invoiced in advance are recorded as deferred income and are included as part of creditors due within one year.

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% reducing balance
Fixtures and fittings - 20% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% 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.

Investments
Investments are included at fair value. Listed investments are valued at their market value at the balance sheet date and any changes in their fair value between the previous year end or acquisition, as applicable are recognised in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


SMITH BROTHERS (TAMWORTH) PROPERTIES
LIMITED (REGISTERED NUMBER: 02365316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 5,646 11,752 18,458 1,397 37,253
Additions 691 - 43,000 - 43,691
Disposals (858 ) (219 ) (813 ) - (1,890 )
At 30 September 2023 5,479 11,533 60,645 1,397 79,054
DEPRECIATION
At 1 October 2022 3,987 10,608 5,037 1,289 20,921
Charge for year 480 229 7,835 27 8,571
Eliminated on disposal (780 ) - (796 ) - (1,576 )
At 30 September 2023 3,687 10,837 12,076 1,316 27,916
NET BOOK VALUE
At 30 September 2023 1,792 696 48,569 81 51,138
At 30 September 2022 1,659 1,144 13,421 108 16,332

SMITH BROTHERS (TAMWORTH) PROPERTIES
LIMITED (REGISTERED NUMBER: 02365316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2022 2,255,972
Additions 817,968
Opening balance restatement (1,171,442 )
Change in fair value 51,917
Exchange differences 371,442
At 30 September 2023 2,325,857
NET BOOK VALUE
At 30 September 2023 2,325,857
At 30 September 2022 2,255,972


7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 6,942,653
Revaluations 2,059,347
At 30 September 2023 9,002,000
NET BOOK VALUE
At 30 September 2023 9,002,000
At 30 September 2022 6,942,653


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 192,219 400,792
Other debtors 131,369 381,689
323,588 782,481

9. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 3,936,111 2,984,368

SMITH BROTHERS (TAMWORTH) PROPERTIES
LIMITED (REGISTERED NUMBER: 02365316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 7,342 -
Taxation and social security 42,848 244,360
Other creditors 206,945 159,547
257,135 403,907

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary 'A' £1 1,000 1,000
100 Ordinary 'B' £1 100 100
1,100 1,100

12. RESERVES
Fair
Retained Revaluation value
earnings reserve reserve Totals
£    £    £    £   

At 1 October 2022 11,440,907 1,952,796 358,391 13,752,094
Profit for the year 1,986,131 1,986,131
Dividends (30,000 ) (30,000 )
Unrealised deficit on changes to
revaluation/fair value

(1,709,461

)

2,059,347

(349,886

)

-

At 30 September 2023 11,687,577 4,012,143 8,505 15,708,225

13. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £66,714 (2022 - £42,068) due to the Directors.