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REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SMITH EASTWOOD PROPERTY CO LIMITED(THE)

SMITH EASTWOOD PROPERTY CO LIMITED(THE) (REGISTERED NUMBER: 00856350)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 5

Chartered Certified Accountant's Report 8

SMITH EASTWOOD PROPERTY CO LIMITED(THE)

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTOR: H L Smith





SECRETARY: Y I Heleine





REGISTERED OFFICE: 301 Western Bank
Sheffield
S10 2TJ





REGISTERED NUMBER: 00856350 (England and Wales)





ACCOUNTANT: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

SMITH EASTWOOD PROPERTY CO LIMITED(THE) (REGISTERED NUMBER: 00856350)

REPORT OF THE DIRECTOR
for the year ended 31 May 2024

The director presents his report with the financial statements of the company for the year ended 31 May 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of property rental.

DIRECTOR
H L Smith held office during the whole of the period from 1 June 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





H L Smith - Director


9 August 2024

SMITH EASTWOOD PROPERTY CO LIMITED(THE) (REGISTERED NUMBER: 00856350)

BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,790 10,753
Investment property 5 1,720,000 1,470,000
1,728,790 1,480,753

CURRENT ASSETS
Debtors 6 25,229 30,083
Cash at bank 71,691 60,305
96,920 90,388
CREDITORS
Amounts falling due within one year 7 12,326 6,833
NET CURRENT ASSETS 84,594 83,555
TOTAL ASSETS LESS CURRENT LIABILITIES 1,813,384 1,564,308

CREDITORS
Amounts falling due after more than one year 8 (607,434 ) (607,444 )

PROVISIONS FOR LIABILITIES (244,469 ) (138,297 )
NET ASSETS 961,481 818,567

CAPITAL AND RESERVES
Called up share capital 150 150
Capital redemption reserve 150 150
Fair value reserve 9 961,630 817,802
Retained earnings (449 ) 465
SHAREHOLDERS' FUNDS 961,481 818,567

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 EASTWOOD PROPERTY CO LIMITED(THE) (REGISTERED NUMBER: 00856350)

BALANCE SHEET - continued
31 May 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 director and authorised for issue on 9 August 2024 and were signed by:





H L Smith - Director


SMITH EASTWOOD PROPERTY CO LIMITED(THE) (REGISTERED NUMBER: 00856350)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Smith Eastwood Property Co Limited(The) 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.

Turnover
Turnover represents property rentals received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - Straight line over 3 years

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.

Deferred taxation
Provision is made at current rates for taxation deferred in respect of all material timing differences.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023 45,024 559 45,583
Additions 2,851 - 2,851
Disposals (35,471 ) - (35,471 )
At 31 May 2024 12,404 559 12,963
DEPRECIATION
At 1 June 2023 34,566 264 34,830
Charge for year 1,996 187 2,183
Eliminated on disposal (32,840 ) - (32,840 )
At 31 May 2024 3,722 451 4,173
NET BOOK VALUE
At 31 May 2024 8,682 108 8,790
At 31 May 2023 10,458 295 10,753

SMITH EASTWOOD PROPERTY CO LIMITED(THE) (REGISTERED NUMBER: 00856350)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 1,470,000
Revaluations 250,000
At 31 May 2024 1,720,000
NET BOOK VALUE
At 31 May 2024 1,720,000
At 31 May 2023 1,470,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2020 786,932
Valuation in 2021 169,167
Valuation in 2024 250,000
Cost 513,901
1,720,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 25,229 30,083

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts - 2,625
Taxation and social security 8,657 684
Other creditors 3,669 3,524
12,326 6,833

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 607,434 607,444

9. RESERVES
Fair
value
reserve
£   
At 1 June 2023 817,802
Revaluation in year 143,828

At 31 May 2024 961,630

SMITH EASTWOOD PROPERTY CO LIMITED(THE) (REGISTERED NUMBER: 00856350)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
H L Smith
Balance outstanding at start of year 18,165 35,035
Amounts advanced 22,470 22,332
Amounts repaid (21,631 ) (39,202 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,004 18,165

CHARTERED CERTIFIED ACCOUNTANT'S REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SMITH EASTWOOD PROPERTY CO LIMITED(THE)

The following reproduces the text of the report prepared for the director 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Director 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, I have prepared for your approval the financial statements of Smith Eastwood Property Co Limited(The) for the year ended 31 May 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 me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Smith Eastwood Property Co Limited(The) in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Smith Eastwood Property Co Limited(The) and state those matters that I have agreed to state to the director of Smith Eastwood Property Co Limited(The) in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report.

It is your duty to ensure that Smith Eastwood Property Co Limited(The) 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 Smith Eastwood Property Co Limited(The). You consider that Smith Eastwood Property Co Limited(The) is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Smith Eastwood Property Co Limited(The). For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


Date: .............................................