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REGISTERED NUMBER: 13916703 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

George Smith Property Management Limited

George Smith Property Management Limited (Registered number: 13916703)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


George Smith Property Management Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: B J Norris
R Pond





SECRETARY: S Thompson





REGISTERED OFFICE: 587-589 Kings Road
London
SW6 2EH





REGISTERED NUMBER: 13916703 (England and Wales)





ACCOUNTANTS: Douglas Shaw Limited
7 Brenkley Way
Blezard Business Park
Seaton Burn
Tyne and Wear
NE13 6DS

George Smith Property Management Limited (Registered number: 13916703)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,931,276 1,964,451

CURRENT ASSETS
Debtors 5 10,022 8,887
Cash at bank 35,828 158,096
45,850 166,983
CREDITORS
Amounts falling due within one year 6 191,275 191,816
NET CURRENT LIABILITIES (145,425 ) (24,833 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,785,851

1,939,618

CREDITORS
Amounts falling due after more than
one year

7

(1,751,009

)

(1,928,168

)

PROVISIONS FOR LIABILITIES (412 ) (686 )
NET ASSETS 34,430 10,764

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 34,428 10,762
34,430 10,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

George Smith Property Management Limited (Registered number: 13916703)

Balance Sheet - continued
31 December 2023


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 13 September 2024 and were signed on its behalf by:





B J Norris - Director


George Smith Property Management Limited (Registered number: 13916703)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

George Smith Property Management 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant & equipment - 33% on cost

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 4 (2022 - 4 ) .

George Smith Property Management Limited (Registered number: 13916703)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant &
property equipment Totals
£    £    £   
COST
At 1 January 2023 1,984,500 4,335 1,988,835
Additions 7,960 - 7,960
At 31 December 2023 1,992,460 4,335 1,996,795
DEPRECIATION
At 1 January 2023 23,661 723 24,384
Charge for year 39,690 1,445 41,135
At 31 December 2023 63,351 2,168 65,519
NET BOOK VALUE
At 31 December 2023 1,929,109 2,167 1,931,276
At 31 December 2022 1,960,839 3,612 1,964,451

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors and prepayments 10,022 8,887

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 65,553 52,567
Trade creditors 8,070 6,640
Amounts owed to group undertakings - 33,345
Tax 13,017 5,278
Social security and other taxes 5,257 -
Directors' loan accounts 89,998 89,998
Accruals and deferred income 9,380 3,988
191,275 191,816

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 70,548 55,808
Bank loans - 2-5 years 223,644 188,940
Bank loans more 5 yr by instal 550,837 898,920
Amounts owed to group undertakings 905,980 784,500
1,751,009 1,928,168

George Smith Property Management Limited (Registered number: 13916703)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.12.23 31.12.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 550,837 898,920