Silverfin false false 31/01/2024 01/02/2023 31/01/2024 T Commins 08/04/2002 E Morse 08/04/2002 E J Morse 06/04/2019 B Morse 14/05/1982 R J Morse 14/05/1982 10 October 2024 The principal activity of the Company during the financial year was the rental management of property. The company also provides production services to the film and television industry. 01635728 2024-01-31 01635728 bus:Director1 2024-01-31 01635728 bus:Director2 2024-01-31 01635728 bus:Director3 2024-01-31 01635728 bus:Director4 2024-01-31 01635728 bus:Director5 2024-01-31 01635728 2023-01-31 01635728 core:CurrentFinancialInstruments 2024-01-31 01635728 core:CurrentFinancialInstruments 2023-01-31 01635728 core:ShareCapital 2024-01-31 01635728 core:ShareCapital 2023-01-31 01635728 core:RetainedEarningsAccumulatedLosses 2024-01-31 01635728 core:RetainedEarningsAccumulatedLosses 2023-01-31 01635728 core:FurnitureFittings 2023-01-31 01635728 core:OfficeEquipment 2023-01-31 01635728 core:FurnitureFittings 2024-01-31 01635728 core:OfficeEquipment 2024-01-31 01635728 2023-02-01 2024-01-31 01635728 bus:FilletedAccounts 2023-02-01 2024-01-31 01635728 bus:SmallEntities 2023-02-01 2024-01-31 01635728 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 01635728 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01635728 bus:Director1 2023-02-01 2024-01-31 01635728 bus:Director2 2023-02-01 2024-01-31 01635728 bus:Director3 2023-02-01 2024-01-31 01635728 bus:Director4 2023-02-01 2024-01-31 01635728 bus:Director5 2023-02-01 2024-01-31 01635728 core:FurnitureFittings 2023-02-01 2024-01-31 01635728 core:OfficeEquipment core:TopRangeValue 2023-02-01 2024-01-31 01635728 2022-02-01 2023-01-31 01635728 core:OfficeEquipment 2023-02-01 2024-01-31 01635728 core:Associate1 2023-02-01 2024-01-31 01635728 core:Associate1 1 2023-02-01 2024-01-31 01635728 core:Associate1 1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure decimalUnit

Company No: 01635728 (England and Wales)

H.L. SMITH (HOLDINGS) LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

H.L. SMITH (HOLDINGS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

H.L. SMITH (HOLDINGS) LIMITED

BALANCE SHEET

As at 31 January 2024
H.L. SMITH (HOLDINGS) LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,730 5,088
Investment property 4 1,514,960 857,014
Investments 5 40 40
1,518,730 862,142
Current assets
Stocks 6 0 645,056
Debtors 7 25,927 5,281
Cash at bank and in hand 307,442 196,589
333,369 846,926
Creditors: amounts falling due within one year 8 ( 196,894) ( 146,179)
Net current assets 136,475 700,747
Total assets less current liabilities 1,655,205 1,562,889
Provision for liabilities 7,359 7,300
Net assets 1,662,564 1,570,189
Capital and reserves
Called-up share capital 102 102
Profit and loss account 1,662,462 1,570,087
Total shareholders' funds 1,662,564 1,570,189

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of H.L. Smith (Holdings) Limited (registered number: 01635728) were approved and authorised for issue by the Board of Directors on 10 October 2024. They were signed on its behalf by:

E Morse
Director
H.L. SMITH (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
H.L. SMITH (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

H.L. Smith (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, Cornwall, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received from film and television production work in the UK and Europe. Revenue is recognised on a monthly basis once services have been carried out. In addition turnover also includes rents received from residential and commercial property.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 20 % reducing balance
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 February 2023 8,494 7,218 15,712
At 31 January 2024 8,494 7,218 15,712
Accumulated depreciation
At 01 February 2023 3,832 6,792 10,624
Charge for the financial year 932 426 1,358
At 31 January 2024 4,764 7,218 11,982
Net book value
At 31 January 2024 3,730 0 3,730
At 31 January 2023 4,662 426 5,088

4. Investment property

Investment property
£
Valuation
As at 01 February 2023 857,014
Additions 657,946
As at 31 January 2024 1,514,960

5. Fixed asset investments

2024 2023
£ £
Participating interests 40 40

Investments in subsidiaries

2024
£
Carrying value at 31 January 2024 0
Carrying value at 31 January 2023 0

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.01.2024
Ownership
31.01.2023
H L Smith Securities Limited 57 London Rd, High Wycombe, Buckinghamshire, HP11 1 BS Property development Ordinary Shares 40.00% 40.00%

6. Stocks

2024 2023
£ £
Work in progress 0 645,056

7. Debtors

2024 2023
£ £
Trade debtors 3,869 2,883
Other debtors 22,058 2,398
25,927 5,281

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 32,000 228
Amounts owed to Group undertakings 0 100
Taxation and social security 9,262 77
Other creditors 155,632 145,774
196,894 146,179