BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity is that of other letting and operating of own or leased real estate. 27 September 2024 3 3 NI645248 2024-03-31 NI645248 2022-12-31 NI645248 2021-12-31 NI645248 2023-01-01 2024-03-31 NI645248 2022-01-01 2022-12-31 NI645248 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2024-03-31 NI645248 uk-curr:PoundSterling 2023-01-01 2024-03-31 NI645248 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-03-31 NI645248 uk-bus:FullAccounts 2023-01-01 2024-03-31 NI645248 uk-bus:Director1 2023-01-01 2024-03-31 NI645248 uk-bus:Director2 2023-01-01 2024-03-31 NI645248 uk-bus:Director3 2023-01-01 2024-03-31 NI645248 uk-bus:Agent1 2023-01-01 2024-03-31 NI645248 uk-core:ShareCapital 2024-03-31 NI645248 uk-core:ShareCapital 2022-12-31 NI645248 uk-core:RevaluationReserve 2024-03-31 NI645248 uk-core:RevaluationReserve 2022-12-31 NI645248 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI645248 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI645248 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI645248 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI645248 uk-bus:FRS102 2023-01-01 2024-03-31 NI645248 uk-core:WithinOneYear 2024-03-31 NI645248 uk-core:WithinOneYear 2022-12-31 NI645248 2023-01-01 2024-03-31 NI645248 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI645248
 
 
SMFD Limited
 
Unaudited Financial Statements
 
for the financial period ended 31 March 2024



SMFD Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Sean Mackin
Thomas Devlin
Philomena Mackin
 
 
Company Registration Number NI645248
 
 
Business Address 263 Falls Road
Belfast
BT12 6FB
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
 
Bankers Bank of Ireland
  Belfast City Branch
  4/8 High Street
  Belfast
  BT1 2BA



SMFD Limited
Company Registration Number: NI645248
STATEMENT OF FINANCIAL POSITION
as at 31 March 2024

Mar 24 Dec 22
Notes £ £
 
Non-Current Assets
Property, plant and equipment 5 1,146,393 1,146,393
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Current Assets
Cash and cash equivalents 64,424 64,424
Payables: amounts falling due within one year 6 (1,076,544) (1,075,191)
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Net Current Liabilities (1,012,120) (1,010,767)
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Total Assets less Current Liabilities 134,273 135,626
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Equity
Called up share capital 200 200
Revaluation reserve 40,829 40,829
Retained earnings 93,244 94,597
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Equity attributable to owners of the company 134,273 135,626
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.
           
For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.
           
Approved by the Board and authorised for issue on 27 September 2024 and signed on its behalf by
           
           
________________________________          
Sean Mackin          
Director          
           
           
________________________________
Thomas Devlin
Director
           
           
________________________________          
Philomena Mackin          
Director          
           



SMFD Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial period ended 31 March 2024

   
1. General Information
 
SMFD Limited is a company limited by shares incorporated in Northern Ireland. 263 Falls Road, Belfast, Northern Ireland, BT12 6FB is the registered office, which is also the principal place of business of the company. The principal activity is that of other letting and operating of own or leased real estate. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Income Statement as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Income Statement.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 15 month period ended 31 March 2024.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial period was 3, (Dec 22 - 3).
 
  Mar 24 Dec 22
  Number Number
 
Director 3 3
  ═════════ ═════════
       
5. Property, plant and equipment
  Investment Total
  properties  
     
  £ £
Cost
At 1 January 2023 1,146,393 1,146,393
  ───────── ─────────
 
At 31 March 2024 1,146,393 1,146,393
  ───────── ─────────
Depreciation
At 1 January 2023 - -
  ───────── ─────────
At 31 March 2024 - -
  ───────── ─────────
Carrying amount
At 31 March 2024 1,146,393 1,146,393
  ═════════ ═════════
At 31 December 2022 1,146,393 1,146,393
  ═════════ ═════════
       
6. Payables Mar 24 Dec 22
Amounts falling due within one year £ £
 
Payments received on account 11,862 11,924
Directors' current accounts 1,063,932 1,062,517
Accruals 750 750
  ───────── ─────────
  1,076,544 1,075,191
  ═════════ ═════════
       
7. Capital commitments
 
The company had no material capital commitments at the financial period-ended 31 March 2024.
   
8. Directors' advances, credits and guarantees
 
At 1 January 2023 the directors were owed £1,062,517 from SMFD Limited. Net transactions between the directors and the company, amounted to £1,415 which has resulted in an amount of £1,063,932 owed to the directors at 31 December 2023.

This loan is interest free and repayable on demand.
   
9. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial period-end.