Silverfin false false 31/10/2024 01/11/2023 31/10/2024 J L Smith 01/10/2021 T C Smith 01/10/2021 23 April 2025 The principal activity of the Company during the financial period was that of rental of owned real estate. 13656914 2024-10-31 13656914 bus:Director1 2024-10-31 13656914 bus:Director2 2024-10-31 13656914 2023-10-31 13656914 core:CurrentFinancialInstruments 2024-10-31 13656914 core:CurrentFinancialInstruments 2023-10-31 13656914 core:Non-currentFinancialInstruments 2024-10-31 13656914 core:Non-currentFinancialInstruments 2023-10-31 13656914 core:ShareCapital 2024-10-31 13656914 core:ShareCapital 2023-10-31 13656914 core:FurtherSpecificReserve3ComponentTotalEquity 2024-10-31 13656914 core:FurtherSpecificReserve3ComponentTotalEquity 2023-10-31 13656914 core:RetainedEarningsAccumulatedLosses 2024-10-31 13656914 core:RetainedEarningsAccumulatedLosses 2023-10-31 13656914 2023-11-01 2024-10-31 13656914 bus:FilletedAccounts 2023-11-01 2024-10-31 13656914 bus:SmallEntities 2023-11-01 2024-10-31 13656914 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 13656914 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 13656914 bus:Director1 2023-11-01 2024-10-31 13656914 bus:Director2 2023-11-01 2024-10-31 13656914 2022-11-01 2023-10-31 13656914 core:Non-currentFinancialInstruments 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure

Company No: 13656914 (England and Wales)

SMITH & SMITH HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

SMITH & SMITH HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

SMITH & SMITH HOLDINGS LIMITED

BALANCE SHEET

As at 31 October 2024
SMITH & SMITH HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 325,000 300,000
325,000 300,000
Current assets
Debtors 4 860 4,798
Cash at bank and in hand 13,266 25,771
14,126 30,569
Creditors: amounts falling due within one year 5 ( 7,701) ( 26,687)
Net current assets 6,425 3,882
Total assets less current liabilities 331,425 303,882
Creditors: amounts falling due after more than one year 6 ( 247,556) ( 247,511)
Provision for liabilities 7 ( 9,521) ( 3,271)
Net assets 74,348 53,100
Capital and reserves
Called-up share capital 2 2
Undistributable reserve 28,562 9,812
Profit and loss account 45,784 43,286
Total shareholders' funds 74,348 53,100

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Smith & Smith Holdings Limited (registered number: 13656914) were approved and authorised for issue by the Board of Directors on 23 April 2025. They were signed on its behalf by:

J L Smith
Director
T C Smith
Director
SMITH & SMITH HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
SMITH & SMITH HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Smith & Smith Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bowdenfield Barn Vicarage Street, Tintinhull, Yeovil, BA22 8PY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable as rental income in the ordinary course of the company’s activities.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 November 2023 300,000
Fair value movement 25,000
As at 31 October 2024 325,000

Historic cost

If the investment properties were recorded at historic cost in the accounts, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 286,917 286,917

4. Debtors

2024 2023
£ £
Trade debtors 0 2,917
Other debtors 860 1,881
860 4,798

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 728 0
Taxation and social security 586 7,170
Other creditors 6,387 19,517
7,701 26,687

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 247,556 247,511

There are no amounts included above in respect of which any security has been given by the small entity.

7. Provision for liabilities

2024 2023
£ £
Deferred tax 9,521 3,271

8. Related party transactions

Other related party transactions

2024 2023
£ £
Smith Carpentry and Construction Limited 103,710 103,710

During the year the company had a loan from Smith Carpentry and Construction Limited.
Smith Carpentry and Construction Limited is a related party by virtue that J L Smith is a director and shareholder of both companies.