SMASHING PROPERTIES LTD

Company Registration Number:
14221149 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2023

Period of accounts

Start date: 07 July 2022

End date: 31 July 2023

SMASHING PROPERTIES LTD

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Notes

SMASHING PROPERTIES LTD

Balance sheet

As at 31 July 2023


Notes

13 months to 31 July 2023


£
Fixed assets
Investments: 3 146,574
Total fixed assets: 146,574
Current assets
Cash at bank and in hand: 606
Total current assets: 606
Creditors: amounts falling due within one year:   (8,098)
Net current assets (liabilities): (7,492)
Total assets less current liabilities: 139,082
Creditors: amounts falling due after more than one year:   (144,367)
Total net assets (liabilities): (5,285)
Capital and reserves
Called up share capital: 5
Profit and loss account: (5,290)
Shareholders funds: (5,285)

The notes form part of these financial statements

SMASHING PROPERTIES LTD

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 05 March 2024
and signed on behalf of the board by:

Name: Mr Syed Mohassin Ali Shah
Status: Director

The notes form part of these financial statements

SMASHING PROPERTIES LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover :Turnover is measured at the fair value of the consideration received or receivable for goods suppliedand 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 havetransferred to the buyer (usually on despatch of the goods); the amount of revenue can be measuredreliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurredor to be incurred in respect of the transactions can be measured reliably.

Other accounting policies

Taxation :The taxation expense represents the aggregate amount of current and deferred tax recognised in thereporting period. Tax is recognised in the statement of comprehensive income, except to the extent thatit relates to items recognised in other comprehensive income or directly in capital and reserves. In thiscase, 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 atthe amounts of tax expected to pay or recover using the tax rates and laws that have been enacted orsubstantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved taxlosses and other deferred tax assets are recognised to the extent that it is probable that they will berecovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax ismeasured using the tax rates and laws that have been enacted or substantively enacted by thereporting date that are expected to apply to the reversal of the timing difference.Fixed asset investments :Fixed asset investments are initially recorded at cost, and subsequently stated at cost less anyaccumulated impairment losses. Listed investments are measured at fair value with changes in fairvalue being recognised in profit or loss.Impairment :A review for indicators of impairment is carried out at each reporting date, with the recoverable amountbeing estimated where such indicators exist. Where the carrying value exceeds the recoverableamount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal ateach reporting date.When it is not possible to estimate the recoverable amount of an individual asset, an estimate is madeof the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generatingunit is the smallest identifiable group of assets that includes the asset and generates cash inflows thatare largely independent of the cash inflows from other assets or groups of assets.Financial instruments :A financial asset or a financial liability is recognised only when the company becomes a party to thecontractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangementconstitutes a financing transaction, where it is recognised at the present value of the future paymentsdiscounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Where investments in non-convertible preference shares and non-puttable ordinary shares orpreference shares are publicly traded or their fair value can otherwise be measured reliably, theinvestment is subsequently measured at fair value with changes in fair value recognised in profit or loss.All other such investments are subsequently measured at cost less impairment.Other financial instruments, including derivatives, are initially recognised at fair value, unless paymentfor an asset is deferred beyond normal business terms or financed at a rate of interest that is not amarket rate, in which case the asset is measured at the present value of the future paymentsdiscounted at a market rate of interest for a similar debt instrument.Other financial instruments are subsequently measured at fair value, with any changes recognised inprofit or loss, with the exception of hedging instruments in a designated hedging relationship.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence ofimpairment at the end of each reporting date. If there is objective evidence of impairment, animpairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individuallysignificant, these are assessed individually for impairment. Other financial assets or either assessedindividually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversaldoes not result in a carrying amount of the financial asset that exceeds what the carrying amount wouldhave been had the impairment not previously been recognised.

SMASHING PROPERTIES LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

2. Employees

13 months to 31 July 2023
Average number of employees during the period 1

SMASHING PROPERTIES LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Fixed investments

Investment Property :CostAdditions £146,574Carrying amountAt 31 July 2023 £146,574

SMASHING PROPERTIES LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: Loan given to the company by Director for acquisition of asset(s)
£
Balance at 31 July 2023 55,758