Company registration number 09615720 (England and Wales)
SMARTER PROPERTY COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
SMARTER PROPERTY COMPANY LIMITED
COMPANY INFORMATION
Directors
Mrs S P Carter
Mr S J Dunevein
Company number
09615720
Registered office
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Property Tax People Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC UK Bank Plc
6 Commercial Way
Woking
GU21 6EZ
SMARTER PROPERTY COMPANY LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
SMARTER PROPERTY COMPANY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SMARTER PROPERTY COMPANY LIMITED FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Smarter Property Company Limited for the year ended 31 August 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Smarter Property Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Smarter Property Company Limited and state those matters that we have agreed to state to the board of directors of Smarter Property Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Smarter Property Company Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Smarter Property Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Smarter Property Company Limited. You consider that Smarter Property Company Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Smarter Property Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Property Tax People Limited
12 February 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SMARTER PROPERTY COMPANY LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
50
50
Current assets
Debtors
5
12,033
11,227
Cash at bank and in hand
278
289
12,311
11,516
Creditors: amounts falling due within one year
6
(60,927)
(55,061)
Net current liabilities
(48,616)
(43,545)
Total assets less current liabilities
(48,566)
(43,495)
Creditors: amounts falling due after more than one year
7
(50,000)
(50,000)
Net liabilities
(98,566)
(93,495)
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
(98,568)
(93,497)
Total equity
(98,566)
(93,495)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 12 February 2025 and are signed on its behalf by:
Mrs S P Carter
Director
Company registration number 09615720 (England and Wales)
SMARTER PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
Smarter Property Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Furniture and fittings
25% on cost
Office equipment
25% on cost
1.4
Fixed asset investments
Interests in jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
SMARTER PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
3
Tangible fixed assets
Furniture and fittings
Office equipment
Total
£
£
£
Cost
At 1 September 2023 and 31 August 2024
5,355
600
5,955
Depreciation and impairment
At 1 September 2023 and 31 August 2024
5,355
600
5,955
Carrying amount
At 31 August 2024
At 31 August 2023
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
50
50
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
12,033
11,227
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
709
630
Other creditors
60,218
54,431
60,927
55,061
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
50,000
50,000
SMARTER PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
9
Ultimate controlling party
There is no ultimate controlling party.