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Registered Number: 14159987
England and Wales

 

 

 

SMILERS PROPERTIES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 08 June 2022

End date: 30 June 2023
 
 
Notes
 
2023
£
Fixed assets    
Tangible fixed assets 3 698,542 
698,542 
Current assets    
Stocks 4 500 
Cash at bank and in hand 21,604 
22,104 
Creditors: amount falling due within one year 5 (263,530)
Net current liabilities (241,426)
 
Total assets less current liabilities 457,116 
Creditors: amount falling due after more than one year 6 (455,000)
Provisions for liabilities 7 (2,964)
Net liabilities (848)
 

Capital and reserves
   
Called up share capital 8 100 
Profit and loss account (948)
Shareholder's funds (848)
 


For the period ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 08 March 2024 and were signed by:


-------------------------------
Mrs L Samuel
Director
1
  Equity share capital   Revaluation reserve   Capital redemption reserve   Retained Earnings   Total
£ £ £ £ £
At 08 June 2022
Profit for the period (948) (948)
Total comprehensive income for the period (948) (948)
Shares issued 100  100 
Total investments by and distributions to owners 100  100 
At 30 June 2023 100  (948) (848)
2
General Information
Smilers Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 14159987, registration address LilyRose Hotel, 2 Esplanade, Whitby, YO21 3HH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15%
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the period was 1.
3.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 08 June 2022    
Additions 682,941    18,621    701,562 
Disposals    
At 30 June 2023 682,941    18,621    701,562 
Depreciation
At 08 June 2022    
Charge for period   3,020    3,020 
On disposals    
At 30 June 2023   3,020    3,020 
Net book values
Closing balance as at 30 June 2023 682,941    15,601    698,542 
Opening balance as at 08 June 2022    


4.

Stocks

2023
£
Stocks 500 
500 

5.

Creditors: amount falling due within one year

2023
£
Other Creditors 263,530 
263,530 

6.

Creditors: amount falling due after more than one year

2023
£
Other Creditors 455,000 
455,000 

7.

Provisions for liabilities

2023
£
Deferred Tax 2,964 
2,964 

8.

Share Capital

Allotted, called up and fully paid
2023
£
100 Ordinary shares of £1.00 each 100 
100 

9.

Security

The long term creditors are secured against the property of the company.
10.

Related Party Transactions

Included in Creditors: amounts falling due within one year is an amount of £260,242 owed to the director of the company.  This is repayable on demand and interest free.
3