Company registration number: 12329148
Unaudited financial statements
for the year ended 30 November 2024
for
Smart Property Partnership Limited
Pages for filing with the Registrar
Company registration number: 12329148
Smart Property Partnership Limited
Balance sheet
as at 30 November 2024
2024 2023
Note £ £ £ £
Fixed assets
Investment property 4 455,000 455,000
455,000 455,000
Current assets
Cash at bank and in hand 52,087 43,040
52,087 43,040
Creditors: amounts falling due within one
year
(306,304) (296,525)
Net current liabilities (254,217) (253,485)
Total assets less current liabilities 200,783 201,515
Creditors: Amounts falling due after more
than one year
(125,890) (135,431)
NET ASSETS 74,893 66,084
Capital and reserves
Called up share capital 10 10
Revaluation reserve 1,500 1,500
Profit and loss account 73,383 64,574
TOTAL EQUITY 74,893 66,084
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 November 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
1
Company registration number: 12329148
Smart Property Partnership Limited
Balance sheet - continued
as at 30 November 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 11 July 2025 and signed on its behalf by:
Mr J Smart, Director
11 July 2025
2
Smart Property Partnership Limited
Notes to the financial statements
for the year ended 30 November 2024
1 Company information
Smart Property Partnership Limited is a private company registered in England and Wales. Its registered number is 12329148. The company is limited by shares. Its registered office is 1b Buckhurst Road, Bexhill-on-Sea, East Sussex, TN40 1QF.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Investment property
Investment property is shown at its 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 taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
3 Average number of employees
During the year the average number of employees was Nil (2023 - Nil).
3
Smart Property Partnership Limited
Notes to the financial statements - continued
for the year ended 30 November 2024
4 Investment property
£
Valuation
At 1 December 2023 455,000
At 30 November 2024 455,000
5 Advances, credit and guarantees granted to directors
The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023.
2024 2023
£ £
J Smart
Balance outstanding at start of year (137,371) (137,371)
Balance outstanding at end of year (137,371) (137,371)
2024 2023
£ £
L Smart
Balance outstanding at start of year (137,371) (137,371)
Balance outstanding at end of year (137,371) (137,371)
4