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REGISTERED NUMBER: 12448845 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JULY 2024

FOR

SMMC HOLDINGS LTD

SMMC HOLDINGS LTD (REGISTERED NUMBER: 12448845)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 5


SMMC HOLDINGS LTD (REGISTERED NUMBER: 12448845)

STATEMENT OF FINANCIAL POSITION
30 JULY 2024

30.7.24 30.7.23
Notes £    £   
FIXED ASSETS
Investments 4 2,588,053 2,026,450

CURRENT ASSETS
Debtors 5 1,135,704 1,503,538
Cash at bank 44,817 6,582
1,180,521 1,510,120
CREDITORS
Amounts falling due within one year 6 (1,368 ) (427,443 )
NET CURRENT ASSETS 1,179,153 1,082,677
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,767,206

3,109,127

CAPITAL AND RESERVES
Called up share capital 600 600
Retained earnings 3,766,606 3,108,527
3,767,206 3,109,127

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 July 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.

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 7 January 2025 and were signed on its behalf by:





S McMullan - Director


SMMC HOLDINGS LTD (REGISTERED NUMBER: 12448845)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2024


1. STATUTORY INFORMATION

SMMC Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12448845

Registered office: C/O Rhino Rank Limited
The Maltings, 59 Lythwood Road
Bayston Hill
Shrewsbury
Shropshire
SY3 0NA

The principal activity of the company is that of a holding company.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

SMMC HOLDINGS LTD (REGISTERED NUMBER: 12448845)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.


SMMC HOLDINGS LTD (REGISTERED NUMBER: 12448845)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 31 July 2023 300 2,026,150 2,026,450
Additions - 582,625 582,625
Disposals - (130,913 ) (130,913 )
Revaluations - 109,891 109,891
At 30 July 2024 300 2,587,753 2,588,053
NET BOOK VALUE
At 30 July 2024 300 2,587,753 2,588,053
At 30 July 2023 300 2,026,150 2,026,450

Cost or valuation at 30 July 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Cost 300 2,587,753 2,588,053

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.7.24 30.7.23
£    £   
Amounts owed by group undertakings 1,135,404 1,503,238
Other debtors 300 300
1,135,704 1,503,538

Amounts due by group undertakings are unsecured, interest free, and are repayable on demand.

SMMC HOLDINGS LTD (REGISTERED NUMBER: 12448845)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.7.24 30.7.23
£    £   
Tax 368 103
Directors' loan accounts 1,000 425,000
Accruals and deferred income - 2,340
1,368 427,443

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 July 2024 and 30 July 2023:

30.7.24 30.7.23
£    £   
S McMullan
Balance outstanding at start of year (213,000 ) -
Amounts advanced 351,544 98,000
Amounts repaid (139,544 ) (311,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,000 ) (213,000 )

M Carey
Balance outstanding at start of year (212,000 ) -
Amounts advanced 456,474 203,000
Amounts repaid (244,474 ) (415,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (212,000 )

8. EVENTS AFTER THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the board.