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REGISTERED NUMBER: 14682569 (England and Wales)














FINANCIAL STATEMENTS

FOR THE PERIOD 22 FEBRUARY 2023 TO 29 FEBRUARY 2024

FOR

SMITH HOUSING MORPETH LTD

SMITH HOUSING MORPETH LTD (REGISTERED NUMBER: 14682569)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 22 FEBRUARY 2023 TO 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SMITH HOUSING MORPETH LTD

COMPANY INFORMATION
FOR THE PERIOD 22 FEBRUARY 2023 TO 29 FEBRUARY 2024







DIRECTOR: A G Smith





REGISTERED OFFICE: 18 Coopies Haugh
Coopies Lane Industrial Estate
Morpeth
Northumberland
N61 6JN





REGISTERED NUMBER: 14682569 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

SMITH HOUSING MORPETH LTD (REGISTERED NUMBER: 14682569)

BALANCE SHEET
29 FEBRUARY 2024

Notes £    £   
FIXED ASSETS
Investment property 4 70,000

CURRENT ASSETS
Debtors 5 50
Cash at bank 67
117
CREDITORS
Amounts falling due within one year 6 66,056
NET CURRENT LIABILITIES (65,939 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,061

PROVISIONS FOR LIABILITIES 1,486
NET ASSETS 2,575

CAPITAL AND RESERVES
Called up share capital 7 100
Retained earnings 8 2,475
SHAREHOLDERS' FUNDS 2,575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 February 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 November 2024 and were signed by:



A G Smith - Director


SMITH HOUSING MORPETH LTD (REGISTERED NUMBER: 14682569)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 22 FEBRUARY 2023 TO 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Smith Housing Morpeth Ltd 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.

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.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Going concern
The directors have adopted the going concern basis of accounting.

Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and Section 12'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

SMITH HOUSING MORPETH LTD (REGISTERED NUMBER: 14682569)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 22 FEBRUARY 2023 TO 29 FEBRUARY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 64,056
Revaluations 5,944
At 29 February 2024 70,000
NET BOOK VALUE
At 29 February 2024 70,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 70,000

If investment property had not been revalued it would have been included at the following historical cost:

£   
Cost 64,056

Investment property was valued on an open market basis on 29 February 2024 by the director. .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 50

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 66,056

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1 100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

8. RESERVES

The retained earnings are fully made up of non-distributable reserves, which relate to the increase in fair value of the investment properties, less deferred tax, which under FRS102 is recognised through the profit and loss account.

9. RELATED PARTY DISCLOSURES

During the year the company received an interest free loan from a company related by way of it's director also being a director of this company. The balance outstanding on the loan at 29 February 2024 was £64,556.