REGISTERED NUMBER: 02166459 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

DE SMITH FEINER LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Stephen Feiner

Richard De Smith

SECRETARY:

Richard De Smith

REGISTERED OFFICE:

118 Piccadilly

London

W1J 7NW

REGISTERED NUMBER:

02166459 (England and Wales)

FIXED ASSETS

Tangible assets

4

122

163

Investment property

5

2,850,000

3,844,233

2,850,122

3,844,396

CURRENT ASSETS

Debtors

6

34,012

35,636

Cash at bank

279,112

300,893

313,124

336,529

CREDITORS

Amounts falling due within one year

7

71,306

94,260

NET CURRENT ASSETS

241,818

242,269

TOTAL ASSETS LESS CURRENT LIABILITIES

3,091,940

4,086,665

PROVISIONS FOR LIABILITIES

164,890

410,153

NET ASSETS

2,927,050

3,676,512

CAPITAL AND RESERVES

Called up share capital

8

100

100

Non-distributable P&L account

9

1,140,187

1,889,157

Retained earnings

9

1,786,763

1,787,255

SHAREHOLDERS' FUNDS

2,927,050

3,676,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 24 May 2025 and were signed on its behalf by:

Richard De Smith - Director

1.	STATUTORY INFORMATION

De Smith Feiner 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.	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.

Turnover

Revenue represents total rents receivable for the year excluding VAT.

Tangible fixed assets

Tangible fixed assets are valued at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off each asset over its estimated useful life at the following rates:

Plant & machinery - 25% on reducing balance

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 financial position date.

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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition. and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2023

and 31 August 2024

14,613

DEPRECIATION

At 1 September 2023

14,450

Charge for year

41

At 31 August 2024

14,491

NET BOOK VALUE

At 31 August 2024

122

At 31 August 2023

163

5.	INVESTMENT PROPERTY

Total

£

COST

At 1 September 2023

3,844,233

Impairments

(994,233

)

At 31 August 2024

2,850,000

NET BOOK VALUE

At 31 August 2024

2,850,000

At 31 August 2023

3,844,233

The investment properties were valued by the directors on an open market value for existing use basis.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

20,452

29,136

Other debtors

13,560

6,500

34,012

35,636

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

39,780

40,167

Other creditors

31,526

54,093

71,306

94,260

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Non-distributable

Retained

P&L

earnings

account

Totals

£

£

£

At 1 September 2023

1,787,255

1,889,157

3,676,412

Profit for the year

124,508

124,508

Dividends

(125,000

)

(125,000

)

Revaluation in period

-

(994,233

)

(994,233

)

Transfer

-

245,263

245,263

At 31 August 2024

1,786,763

1,140,187

2,926,950

10.	RELATED PARTY DISCLOSURES

During the year the directors' lent funds to the company. Together with current accounts, the amounts outstanding at the balance sheet date totalled nil (2023: £21,809).