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REGISTERED NUMBER: 03585965 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

S.M. PROPERTIES (LONDON) LTD

S.M. PROPERTIES (LONDON) LTD (REGISTERED NUMBER: 03585965)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S.M. PROPERTIES (LONDON) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: M Lipschutz





SECRETARY: M Lipschutz





REGISTERED OFFICE: 115 Craven Park Road
Stamford Hill
London
N15 6BL





REGISTERED NUMBER: 03585965 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

S.M. PROPERTIES (LONDON) LTD (REGISTERED NUMBER: 03585965)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,744 2,052
Investment property 6 2,276,973 2,250,000
2,278,717 2,252,052

CURRENT ASSETS
Debtors 7 839,927 567,560
Cash at bank 25,543 32,743
865,470 600,303
CREDITORS
Amounts falling due within one year 8 (446,639 ) (130,857 )
NET CURRENT ASSETS 418,831 469,446
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,697,548

2,721,498

CREDITORS
Amounts falling due after more than one
year

9

(878,720

)

(884,716

)

PROVISIONS FOR LIABILITIES (232,014 ) (232,014 )
NET ASSETS 1,586,814 1,604,768

CAPITAL AND RESERVES
Called up share capital 12 2 2
Fair value reserve 13 1,671,894 1,671,894
Retained earnings 13 (85,082 ) (67,128 )
SHAREHOLDERS' FUNDS 1,586,814 1,604,768

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

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

S.M. PROPERTIES (LONDON) LTD (REGISTERED NUMBER: 03585965)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 and authorized for issue by the director and authorised for issue on 8 April 2025 and were signed by:





M Lipschutz - Director


S.M. PROPERTIES (LONDON) LTD (REGISTERED NUMBER: 03585965)

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

1. STATUTORY INFORMATION

S.M. Properties (London) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023
and 30 June 2024 14,830
DEPRECIATION
At 1 July 2023 12,778
Charge for year 308
At 30 June 2024 13,086
NET BOOK VALUE
At 30 June 2024 1,744
At 30 June 2023 2,052

S.M. PROPERTIES (LONDON) LTD (REGISTERED NUMBER: 03585965)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 2,250,000
Additions 26,973
At 30 June 2024 2,276,973
NET BOOK VALUE
At 30 June 2024 2,276,973
At 30 June 2023 2,250,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2015 450,768
Valuation in 2021 1,221,126
Cost 605,079
2,276,973

Investment property was valued on an open market basis on 30 June 2020 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 839,927 567,560

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Tax - 4,508
Social security and other taxes 200 265
Other creditors 55,781 21,336
Loan creditors 389,608 103,728
Accrued expenses 1,050 1,020
446,639 130,857

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans (see note 10) 866,266 866,266
Other loans (see note 10) 12,454 18,450
878,720 884,716

S.M. PROPERTIES (LONDON) LTD (REGISTERED NUMBER: 03585965)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.6.24 30.6.23
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 405,449 405,449

Repayable by instalments
Bank loans 460,817 460,817
Other loans more 5yrs instal 12,454 18,450
473,271 479,267

10. LOANS

An analysis of the maturity of loans is given below:

30.6.24 30.6.23
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans 405,449 405,449

Repayable by instalments
Bank loans 460,817 460,817
Other loans more 5yrs instal 12,454 18,450
473,271 479,267

11. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 866,266 866,266
Other loans 12,454 -
878,720 866,266

1. Long term bank loan is secured by first charge over the company's investment property.

2. Short term bank loan is unsecured and received under Bounceback Loan Scheme (BBL) which is guaranteed by UK government.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2 Ordinary £1 2 2

S.M. PROPERTIES (LONDON) LTD (REGISTERED NUMBER: 03585965)

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

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 (67,128 ) 1,671,894 1,604,766
Deficit for the year (17,954 ) (17,954 )
At 30 June 2024 (85,082 ) 1,671,894 1,586,812

14. ULTIMATE CONTROLLING PARTY

The controlling party is M Lipschutz.