Smythe Property Limited 11180790 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is Non specialised wholesale trade Digita Accounts Production Advanced 6.30.9574.0 true 11180790 2023-10-01 2024-09-30 11180790 2024-09-30 11180790 core:RetainedEarningsAccumulatedLosses 2024-09-30 11180790 core:ShareCapital 2024-09-30 11180790 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-09-30 11180790 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 11180790 bus:SmallEntities 2023-10-01 2024-09-30 11180790 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 11180790 bus:FullAccounts 2023-10-01 2024-09-30 11180790 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 11180790 bus:RegisteredOffice 2023-10-01 2024-09-30 11180790 bus:Director1 2023-10-01 2024-09-30 11180790 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11180790 countries:EnglandWales 2023-10-01 2024-09-30 11180790 2023-09-30 11180790 2022-10-01 2023-09-30 11180790 2023-09-30 11180790 core:RetainedEarningsAccumulatedLosses 2023-09-30 11180790 core:ShareCapital 2023-09-30 11180790 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 11180790

Smythe Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Smythe Property Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Smythe Property Limited

Company Information

Director

Mr A R Smith

Registered office

C/o B Smith Packaging (Worcester) Ltd
Stanier Road
Warndon
Worcester
WR4 9FE

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Smythe Property Limited

(Registration number: 11180790)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,600,000

1,200,000

Other financial assets

5

279,380

143,826

 

1,879,380

1,343,826

Current assets

 

Cash at bank and in hand

 

75,673

106,075

Creditors: Amounts falling due within one year

6

(27,967)

(19,233)

Net current assets

 

47,706

86,842

Total assets less current liabilities

 

1,927,086

1,430,668

Provisions for liabilities

(107,825)

(690)

Net assets

 

1,819,261

1,429,978

Capital and reserves

 

Called up share capital

1,200,000

1,200,000

Retained earnings

619,261

229,978

Shareholders' funds

 

1,819,261

1,429,978

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 March 2025
 

 

Smythe Property Limited

(Registration number: 11180790)
Balance Sheet as at 30 September 2024

.........................................
Mr A R Smith
Director

   
 

Smythe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/o B Smith Packaging (Worcester) Ltd
Stanier Road
Warndon
Worcester
WR4 9FE
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Smythe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Smythe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Investment properties

2024
£

At 1 October 2022

1,200,000

Fair value adjustments

400,000

At 30 September 2023

1,600,000

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2023

143,826

143,826

Fair value adjustments

34,663

34,663

Additions

126,053

126,053

Disposals

(25,162)

(25,162)

At 30 September 2024

279,380

279,380

Carrying amount

At 30 September 2024

279,380

279,380

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Taxation and social security

 

4,890

2,787

Other creditors

 

23,077

16,446

 

27,967

19,233