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REGISTERED NUMBER: 10310323 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Four Smiths Limited

Four Smiths Limited (Registered number: 10310323)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Four Smiths Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: S C Smith
Mrs S J Smith
B F Smith





SECRETARY: B F Smith





REGISTERED OFFICE: 29a Crown Street
Brentwood
Essex
CM14 4BA





REGISTERED NUMBER: 10310323 (England and Wales)





ACCOUNTANTS: Moulton Johnson Limited
Chartered Accountants
29a Crown Street
Brentwood
Essex
CM14 4BA

Four Smiths Limited (Registered number: 10310323)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,071,550 1,071,550

CURRENT ASSETS
Debtors 5 694 283
Cash at bank 4,635 10,189
5,329 10,472
CREDITORS
Amounts falling due within one year 6 391,096 466,469
NET CURRENT LIABILITIES (385,767 ) (455,997 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

685,783

615,553

CREDITORS
Amounts falling due after more than one
year

7

(503,795

)

(456,666

)

PROVISIONS FOR LIABILITIES 9 (43,016 ) (37,241 )
NET ASSETS 138,972 121,646

CAPITAL AND RESERVES
Called up share capital 2,100 2,100
Fair value reserve 10 239,519 239,519
Retained earnings (102,647 ) (119,973 )
138,972 121,646

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

Four Smiths Limited (Registered number: 10310323)

Balance Sheet - continued
31st March 2024


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 Board of Directors and authorised for issue on 7th August 2024 and were signed on its behalf by:





S C Smith - Director


Four Smiths Limited (Registered number: 10310323)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Four Smiths 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Turnover represents rental income receivable during the year.

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 balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Four Smiths Limited (Registered number: 10310323)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 1,071,550
NET BOOK VALUE
At 31st March 2024 1,071,550
At 31st March 2023 1,071,550

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2023 313,723
Cost 757,827
1,071,550

In the opinion of the directors, taking into account current market conditions, there has been no significant change in the value of the investment properties during the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 694 283

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 391,096 466,469

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 503,795 456,666

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loan 503,795 456,666

Four Smiths Limited (Registered number: 10310323)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 503,795 456,666

The long-term bank loan is secured over the company's investment properties. In addition, the directors have personally guaranteed this loan.

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 43,016 37,241

Deferred
tax
£   
Balance at 1st April 2023 37,241
Provided during year 5,775
Balance at 31st March 2024 43,016

10. RESERVES
Fair
value
reserve
£   
At 1st April 2023
and 31st March 2024 239,519

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2024 and 31st March 2023:

31.3.24 31.3.23
£    £   
S C Smith
Balance outstanding at start of year - 1,250
Amounts repaid - (1,250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs S J Smith
Balance outstanding at start of year - 1,250
Amounts repaid - (1,250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Four Smiths Limited (Registered number: 10310323)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

12. RELATED PARTY DISCLOSURES

During the year, Wey Valley Music Limited, a company that has directors in common with Four Smiths Limited, continued to advance an interest-bearing loan to the company. The balance due from the company to Wey Valley Music Limited at 31st March 2024 amounted to £209,500 (2023: £444,500).

During the year, Francis Farms Limited, a company that has directors in common with Four Smiths Limited, advanced an interest-bearing loan to the company. The balance due from the company to Francis Farms Limited at 31st March 2024 amounted to £167,000 (2023: £Nil).

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Four Smiths Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Four Smiths Limited for the year ended 31st March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Four Smiths Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Four Smiths Limited and state those matters that we have agreed to state to the Board of Directors of Four Smiths Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Four Smiths Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Four Smiths Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Four Smiths Limited. You consider that Four Smiths Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Four Smiths Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moulton Johnson Limited
Chartered Accountants
29a Crown Street
Brentwood
Essex
CM14 4BA


8th August 2024