Company registration number 14655936 (England and Wales)
SML HOLDINGS GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
SML HOLDINGS GROUP LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2023
31 October 2023
- 1 -
2023
Notes
£
£
Fixed assets
Investments
3
600,000
Current assets
Debtors
4
350,100
Creditors: amounts falling due within one year
5
(600,000)
Net current liabilities
(249,900)
Net assets
350,100
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
350,000
Total equity
350,100

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 27 March 2024 and are signed on its behalf by:
Mr N S Walters
Director
Company registration number 14655936 (England and Wales)
SML HOLDINGS GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 OCTOBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 10 February 2023
-
0
-
0
-
Period ended 31 October 2023:
Profit and total comprehensive income
-
350,000
350,000
Issue of share capital
6
100
-
100
Balance at 31 October 2023
100
350,000
350,100
SML HOLDINGS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023
- 3 -
1
Accounting policies
Company information

SML Holdings Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Edison Gate, Unit 10a Hopkinson Way, Hopkinson Way, Andover, Hampshire, United Kingdom, SP10 3ZE.

1.1
Reporting period

The company was incorporated on 10 February 2023 and these are the first financial statements for the company which run to the period ended 31 October 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements for the period ended 31 October 2023 are the first financial statements of SML Holdings Group Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

SML HOLDINGS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including other creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The company had no employees during the period.

3
Fixed asset investments
2023
£
Shares in group undertakings and participating interests
600,000
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 10 February 2023
-
0
Additions
600,000
At 31 October 2023
600,000
Carrying amount
At 31 October 2023
600,000
SML HOLDINGS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2023
- 5 -
4
Debtors
2023
Amounts falling due within one year:
£
Amounts owed by group undertakings
83
Other debtors
350,017
350,100
5
Creditors: amounts falling due within one year
2023
£
Amounts owed to group undertakings
600,000
6
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
A Ordinary of £1 each
42
42
B Ordinary of £1 each
26
26
C Ordinary of £1 each
32
32
X Redeemable of 1p each
1
-
Y Redeemable of 1p each
1
-
Z Redeemable of 1p each
1
-
103
100

During the year the company issued 42 Ordinary A shares, 26 Ordinary B shares, 32 Ordinary C shares, 1 Redeemable X share, 1 Redeemable Y share and 1 Redeemable Z share.

 

The profits of the Company available for dividend and resolved to be distributed in respect of each financial year of the Company or other period of the Company, may be declared and applied to one or more of the differently designated share classes in the capital of the Company to the exclusion of the others and the gross amount declared and paid may be allocated differently between such of the different designated share classes

7
Related party transactions
Transactions with related parties

During the period the company entered into the following transactions with related parties:

2023
Amounts due to related parties
£
Entities over which the entity has control, joint control or significant influence
600,000
SML HOLDINGS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2023
7
Related party transactions
(Continued)
- 6 -

The following amounts were outstanding at the reporting end date:

2023
Amounts due from related parties
£
Entities over which the entity has control, joint control or significant influence
83
8
Directors' transactions

At the year end the directors owed £350,017 to the company. This amount is interest free and repayable on demand.

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