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REGISTERED NUMBER: 09508857 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SM ASSET MANAGEMENT LTD

SM ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09508857)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


SM ASSET MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S J Musil
Dr J Musil
J O Musil





REGISTERED OFFICE: 3 Pollard Garth
Skidby
Cottingham
North Humberside
HU16 5GA





REGISTERED NUMBER: 09508857 (England and Wales)





ACCOUNTANTS: Majors Limited
F15 The Bloc
38 Springfield Way
Anlaby
Hull
E. Yorks
HU10 6RJ

SM ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09508857)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 890,111 852,018

CURRENT ASSETS
Cash at bank 35,704 104,274

CREDITORS
Amounts falling due within one year 5 724,581 734,898
NET CURRENT LIABILITIES (688,877 ) (630,624 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,234

221,394

CREDITORS
Amounts falling due after more than
one year

6

(207,499

)

(219,857

)

PROVISIONS FOR LIABILITIES - (30 )
NET (LIABILITIES)/ASSETS (6,265 ) 1,507

CAPITAL AND RESERVES
Called up share capital 5 5
Property reserve 8 16,038 16,038
Retained earnings (22,308 ) (14,536 )
SHAREHOLDERS' FUNDS (6,265 ) 1,507

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.

SM ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09508857)

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 19 December 2024 and were signed on its behalf by:





S J Musil - Director


SM ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09508857)

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

1. STATUTORY INFORMATION

Sm Asset Management 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% 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 1 (2023 - 1 ) .

SM ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09508857)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 851,858 4,601 856,459
Additions 35,000 4,200 39,200
At 31 March 2024 886,858 8,801 895,659
DEPRECIATION
At 1 April 2023 - 4,441 4,441
Charge for year - 1,107 1,107
At 31 March 2024 - 5,548 5,548
NET BOOK VALUE
At 31 March 2024 886,858 3,253 890,111
At 31 March 2023 851,858 160 852,018

The directors have decided that the land and buildings will not be subject to depreciation.

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 16,038 - 16,038
Cost 870,820 8,801 879,621
886,858 8,801 895,659

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,358 12,358
Other loans 25,141 25,141
Trade creditors 300 2,296
Social security and other taxes 534 508
Other creditors 825 860
Directors' current accounts 683,683 691,953
Accrued expenses 1,740 1,782
724,581 734,898

SM ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09508857)

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

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 12,358 12,358
Bank loans - 2-5 years 37,074 37,074
Bank loans more 5 yr by instal 158,067 170,425
207,499 219,857

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 158,067 170,425

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 219,857 232,215

The bank loan is subject to a fixed interest charge and is secured on freehold properties.

8. RESERVES
Property
reserve
£   
At 1 April 2023
and 31 March 2024 16,038