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REGISTERED NUMBER: 14682569 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

SMITH HOUSING MORPETH LTD

SMITH HOUSING MORPETH LTD (REGISTERED NUMBER: 14682569)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SMITH HOUSING MORPETH LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTOR: A G Smith





REGISTERED OFFICE: 18 Coopies Haugh
Coopies Lane Industrial Estate
Morpeth
Northumberland
N61 6JN





REGISTERED NUMBER: 14682569 (England and Wales)





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

SMITH HOUSING MORPETH LTD (REGISTERED NUMBER: 14682569)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 115,000 70,000

CURRENT ASSETS
Debtors 5 49,744 50
Cash at bank 3 67
49,747 117
CREDITORS
Amounts falling due within one year 6 114,054 66,056
NET CURRENT LIABILITIES (64,307 ) (65,939 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,693

4,061

PROVISIONS FOR LIABILITIES 12,736 1,486
NET ASSETS 37,957 2,575

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 37,857 2,475
SHAREHOLDERS' FUNDS 37,957 2,575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 director and authorised for issue on 28 August 2025 and were signed by:



A G Smith - Director


SMITH HOUSING MORPETH LTD (REGISTERED NUMBER: 14682569)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1. STATUTORY INFORMATION

Smith Housing Morpeth 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.

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 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 included at fair value. 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 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.

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.

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.

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.

SMITH HOUSING MORPETH LTD (REGISTERED NUMBER: 14682569)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2024 70,000
Revaluations 45,000
At 28 February 2025 115,000
NET BOOK VALUE
At 28 February 2025 115,000
At 29 February 2024 70,000

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 49,744 50

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 1,494 -
Other creditors 112,560 66,056
114,054 66,056

7. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Other loans 111,000 -

The loan is secured by a personal guarantee from the director.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary £1 100 100

SMITH HOUSING MORPETH LTD (REGISTERED NUMBER: 14682569)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

9. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £49,694 (2024: £64,556 included in other creditors) due from a related company by virtue of common directors. There are no set terms as to repayment of the balance and no interest accrued thereon.