IRIS Accounts Production v24.2.0.383 08923701 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh089237012023-03-31089237012024-03-31089237012023-04-012024-03-31089237012022-03-31089237012022-04-012023-03-31089237012023-03-3108923701ns15:EnglandWales2023-04-012024-03-3108923701ns14:PoundSterling2023-04-012024-03-3108923701ns10:Director12023-04-012024-03-3108923701ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108923701ns10:SmallEntities2023-04-012024-03-3108923701ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3108923701ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108923701ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108923701ns10:FullAccounts2023-04-012024-03-3108923701ns10:Director22023-04-012024-03-3108923701ns10:RegisteredOffice2023-04-012024-03-3108923701ns5:CurrentFinancialInstruments2024-03-3108923701ns5:CurrentFinancialInstruments2023-03-3108923701ns5:Non-currentFinancialInstruments2024-03-3108923701ns5:Non-currentFinancialInstruments2023-03-3108923701ns5:ShareCapital2024-03-3108923701ns5:ShareCapital2023-03-3108923701ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-3108923701ns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3108923701ns5:RetainedEarningsAccumulatedLosses2024-03-3108923701ns5:RetainedEarningsAccumulatedLosses2023-03-3108923701ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108923701ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108923701ns5:Secured2024-03-3108923701ns5:Secured2023-03-31
REGISTERED NUMBER: 08923701 (England and Wales)















SMYTH & SHEEHAN PROPERTY INVESTMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






SMYTH & SHEEHAN PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 08923701)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 6

SMYTH & SHEEHAN PROPERTY INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J P Sheehan
J L Smyth





REGISTERED OFFICE: Jock Sergisons Business Centre Hyde Park
Nelson Street,
Doncaster
South Yorkshire
DN4 5AB





REGISTERED NUMBER: 08923701 (England and Wales)






SMYTH & SHEEHAN PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 08923701)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,025,000 2,025,000

CURRENT ASSETS
Debtors 5 72,000 140,000
Cash at bank and in hand 596 4,228
72,596 144,228
CREDITORS
Amounts falling due within one year 6 138,096 184,920
NET CURRENT LIABILITIES (65,500 ) (40,692 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,959,500

1,984,308

CREDITORS
Amounts falling due after more than one
year

7

(966,443

)

(1,007,919

)

PROVISIONS FOR LIABILITIES (204,791 ) (204,791 )
NET ASSETS 788,266 771,598

CAPITAL AND RESERVES
Called up share capital 100 100
Undistributable reserve 697,711 697,711
Retained earnings 90,455 73,787
SHAREHOLDERS' FUNDS 788,266 771,598

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.

SMYTH & SHEEHAN PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 08923701)

BALANCE SHEET - continued
31 MARCH 2024


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 8 October 2024 and were signed on its behalf by:





J L Smyth - Director


SMYTH & SHEEHAN PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 08923701)

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


1. STATUTORY INFORMATION

Smyth & Sheehan Property Investments 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.

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

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.

Going concern
At the balance sheet date the company had net current liabilities of £94,663 (2023 - £40,692). The company is dependent upon the continued financial support of its directors and other creditors. Given the continuance of this support the directors consider it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,025,000
NET BOOK VALUE
At 31 March 2024 2,025,000
At 31 March 2023 2,025,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 359,190
Valuation in 2023 543,312
Cost 1,122,498
2,025,000

Investment properties were revalued on an open market basis by the directors.

SMYTH & SHEEHAN PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 08923701)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 72,000 140,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,781 4,467
Trade creditors 261 23
Taxation and social security 3,910 8,686
Other creditors 113,144 171,744
138,096 184,920

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 966,443 1,007,919

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 987,224 1,012,386

Bank borrowings are secured on the company's investment properties.

SMYTH & SHEEHAN PROPERTY INVESTMENTS LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
SMYTH & SHEEHAN PROPERTY INVESTMENTS LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Smyth & Sheehan Property Investments Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Smyth & Sheehan Property Investments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Smyth & Sheehan Property Investments Ltd and state those matters that we have agreed to state to the Board of Smyth & Sheehan Property Investments Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Smyth & Sheehan Property Investments Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Smyth & Sheehan Property Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Smyth & Sheehan Property Investments Ltd. You consider that Smyth & Sheehan Property Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Smyth & Sheehan Property Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.








8 October 2024