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REGISTERED NUMBER: 13053010 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

SMITH HOUSING LIMITED

SMITH HOUSING LIMITED (REGISTERED NUMBER: 13053010)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMITH HOUSING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: A G Smith
L E Smith





REGISTERED OFFICE: Unit 18 Coopies Haugh
Coopies Lane
Morpeth
Northumberland
NE61 6JN





REGISTERED NUMBER: 13053010 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

SMITH HOUSING LIMITED (REGISTERED NUMBER: 13053010)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,060 9,629
Investment property 5 1,008,298 958,583
1,017,358 968,212

CURRENT ASSETS
Stocks - 700
Debtors 6 14,000 3,395
Cash at bank 1,039 157
15,039 4,252
CREDITORS
Amounts falling due within one year 7 383,171 547,061
NET CURRENT LIABILITIES (368,132 ) (542,809 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

649,226

425,403

CREDITORS
Amounts falling due after more than one
year

8

(576,161

)

(438,007

)

PROVISIONS FOR LIABILITIES (23,730 ) -
NET ASSETS/(LIABILITIES) 49,335 (12,604 )

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 168,189 54,275
Retained earnings (118,954 ) (66,979 )
49,335 (12,604 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

SMITH HOUSING LIMITED (REGISTERED NUMBER: 13053010)

BALANCE SHEET - continued
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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:





A G Smith - Director


SMITH HOUSING LIMITED (REGISTERED NUMBER: 13053010)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Smith Housing 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 recognition of certain assets measured at fair value.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rents receivable from investment properties provided in the normal course of business, and is shown net of VAT 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.
Plant and machinery etc - 33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Investment property
Investment property included at fair value. Any aggregate surplus of deficit arising from changes in fair value is recognised in the profit or loss.

Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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 Statement of Income and Retained Earnings, 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.


SMITH HOUSING LIMITED (REGISTERED NUMBER: 13053010)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023
and 30 November 2024 11,354
DEPRECIATION
At 1 December 2023 1,725
Charge for year 569
At 30 November 2024 2,294
NET BOOK VALUE
At 30 November 2024 9,060
At 30 November 2023 9,629

SMITH HOUSING LIMITED (REGISTERED NUMBER: 13053010)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 958,583
Additions 146,536
Disposals (240,371 )
Revaluations 143,550
At 30 November 2024 1,008,298
NET BOOK VALUE
At 30 November 2024 1,008,298
At 30 November 2023 958,583

The fair value of the investment property has been arrived at on the basis of an assessment made by the directors. The valuation was made on an open market value basis.


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,000 3,395

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 23,090 22,987
Other creditors 360,081 524,074
383,171 547,061

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 576,161 438,007

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 576,161 438,007
Other loans 60,600 273,566
636,761 711,573

Bank loans are secured on the properties to which they relate.

Other loans are secured by way of a personal guarantee from the director.

SMITH HOUSING LIMITED (REGISTERED NUMBER: 13053010)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

10. RESERVES
Fair
value
reserve
£   
At 1 December 2023 54,275
Transfer 113,914

At 30 November 2024 168,189

11. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £98,643 (2023: £162,369) due to a director of the company.

Included in other creditors are loans from companies related by way of common directors. As at the balance sheet date the balance on the loans were £109,663 (2023: £72,504).

There are no set terms as to the repayment of these balances and no interest accrued thereon.