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REGISTERED NUMBER: 02725586 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SMARTADJUST LIMITED

SMARTADJUST LIMITED (REGISTERED NUMBER: 02725586)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMARTADJUST LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2024







DIRECTOR: G Bailey





REGISTERED OFFICE: 24 Whiston Grove
Rotherham
S60 2TX





REGISTERED NUMBER: 02725586 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

SMARTADJUST LIMITED (REGISTERED NUMBER: 02725586)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 300,871 261,454
Investment property 5 6,337,000 6,194,000
6,637,871 6,455,454

CURRENT ASSETS
Debtors 6 511,327 515,129
Cash at bank 46 1,819
511,373 516,948
CREDITORS
Amounts falling due within one year 7 300,958 251,152
NET CURRENT ASSETS 210,415 265,796
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,848,286

6,721,250

CREDITORS
Amounts falling due after more than one
year

8

(2,023,224

)

(2,048,267

)

PROVISIONS FOR LIABILITIES (219,898 ) (200,263 )
NET ASSETS 4,605,164 4,472,720

CAPITAL AND RESERVES
Called up share capital 10 10
Revaluation reserve 10 3,897,423 3,714,423
Retained earnings 707,731 758,287
4,605,164 4,472,720

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

SMARTADJUST LIMITED (REGISTERED NUMBER: 02725586)

BALANCE SHEET - continued
31 December 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 by the director and authorised for issue on 9 June 2025 and were signed by:





G Bailey - Director


SMARTADJUST LIMITED (REGISTERED NUMBER: 02725586)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Smartadjust Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% 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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 1 (2023 - 1 ) .

SMARTADJUST LIMITED (REGISTERED NUMBER: 02725586)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 260,000 76,518 336,518
Disposals - (11,335 ) (11,335 )
Revaluations 40,000 - 40,000
At 31 December 2024 300,000 65,183 365,183
DEPRECIATION
At 1 January 2024 - 75,064 75,064
Charge for year - 363 363
Eliminated on disposal - (11,115 ) (11,115 )
At 31 December 2024 - 64,312 64,312
NET BOOK VALUE
At 31 December 2024 300,000 871 300,871
At 31 December 2023 260,000 1,454 261,454

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 197,804 - 197,804
Cost 102,196 65,183 167,379
300,000 65,183 365,183

Freehold property at a cost of £102,196 is included at market valuation of £300,000 as valued by Mr Graham Bailey,director, who considers that this valuation is reasonable as at 31 December 2024.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 6,194,000
Revaluations 143,000
At 31 December 2024 6,337,000
NET BOOK VALUE
At 31 December 2024 6,337,000
At 31 December 2023 6,194,000

SMARTADJUST LIMITED (REGISTERED NUMBER: 02725586)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024


5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2024 3,897,329
Cost 2,439,671
6,337,000

The investment properties are included at open market value and were valued by Mr Graham Bailey, director, in December 2024, the valuations being reflected in the accounts.
Included in Investment property is property with a value of £6,337,000 used in operating leases.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by participating interests 496,567 500,369
Other debtors 14,760 14,760
511,327 515,129

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,369 10,369
Trade creditors 4,657 5,164
Amounts owed to group undertakings 260,000 210,000
Taxation and social security 4,517 2,504
Other creditors 21,415 23,115
300,958 251,152

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 2,023,224 2,048,267

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,995,767 2,007,463

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,033,593 2,058,636

SMARTADJUST LIMITED (REGISTERED NUMBER: 02725586)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024


10. RESERVES
Revaluation
reserve
£   
At 1 January 2024 3,714,423
Non distributable reserves 183,000

At 31 December 2024 3,897,423

11. RELATED PARTY DISCLOSURES

A loan was made to Bailey Estates Ltd - a company owned by Mr G Bailey.

At the year end 31st December 2024 the amount owed to Smartadjust Ltd was £496,567 (2023: £500,369)

There is a cross guarantee between Smartadjust Limited and Bailey Corringham Ltd supported by a debenture over the whole assets and undertakings including the called up share capital of Bailey Corringham Ltd.

G Bailey is a director of the parent company, Bailey Corringham Limited. He has a beneficial interest in 100% of that company's issued share capital.

At 31st December 2024 Smartadjust Ltd owed the parent company, Bailey Corringham Ltd, £260,000 (2023: £210,000).

At 31 December 2024 other creditors included loans made to the company by the directors of £14,475 (2023: £16,892). The loans are interest free and have no fixed date for repayment.