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REGISTERED NUMBER: 01208300 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SMEETH METAL COMPANY LIMITED

SMEETH METAL COMPANY LIMITED (REGISTERED NUMBER: 01208300)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SMEETH METAL COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R W Brett
A Brett BEng (Hons) MSc DIC





SECRETARY: A Brett BEng (Hons) MSc DIC





REGISTERED OFFICE: Second Floor South
The Fitted Rigging House
Anchor Wharf, The Historic Dockyard
Chatham
Kent
ME4 4TZ





REGISTERED NUMBER: 01208300 (England and Wales)





ACCOUNTANTS: Carleys
Second Floor South
The Fitted Rigging House
The Historic Dockyard
Chatham
Kent
ME4 4TZ

SMEETH METAL COMPANY LIMITED (REGISTERED NUMBER: 01208300)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 317 633
Investment property 5 1,130,215 864,994
1,130,532 865,627

CURRENT ASSETS
Debtors 6 231,361 196,452
Cash at bank 211,450 387,978
442,811 584,430
CREDITORS
Amounts falling due within one year 7 636,665 604,732
NET CURRENT LIABILITIES (193,854 ) (20,302 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

936,678

845,325

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Non Distributable Reserves 686,517 636,517
Retained earnings 249,161 207,808
SHAREHOLDERS' FUNDS 936,678 845,325

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

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

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 1 September 2024 and were signed on its behalf by:





A Brett BEng (Hons) MSc DIC - Director


SMEETH METAL COMPANY LIMITED (REGISTERED NUMBER: 01208300)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Smeeth Metal Company 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.

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 amounts received for rental income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investment property
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred taxation is provided on these gains and losses at the rate expected to apply when the property is sold.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

SMEETH METAL COMPANY LIMITED (REGISTERED NUMBER: 01208300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 949
DEPRECIATION
At 1 April 2023 316
Charge for year 316
At 31 March 2024 632
NET BOOK VALUE
At 31 March 2024 317
At 31 March 2023 633

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 864,994
Additions 215,221
Fair value adjustment 50,000
At 31 March 2024 1,130,215
NET BOOK VALUE
At 31 March 2024 1,130,215
At 31 March 2023 864,994

The investment property has been measured at fair value which is the open market value of the property. The fair value adjustment has been taken through the profit and loss account.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 73,500 179,724
Other debtors 157,861 16,728
231,361 196,452

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 630 -
Taxation and social security 23,961 3,745
Other creditors 612,074 600,987
636,665 604,732

SMEETH METAL COMPANY LIMITED (REGISTERED NUMBER: 01208300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
450 Ordinary C £1 450 450
450 Ordinary D £1 450 450
1,000 1,000

The shares rank pari passu in all respects with the exception that dividends may be declared on one class of share to the exclusion of the other and that dividends at different rates may be declared on the respective classes of shares.

9. RELATED PARTY DISCLOSURES

Directors have made an interest free loans to the company amounting to £486,221 at the year end (2023: 481,014).