Singleton & Smart (Holdings) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01137240 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

SINGLETON & SMART (HOLDINGS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Smart

A Smart

K Smart

SECRETARY:

L Askham

REGISTERED OFFICE:

71 Chorley Road

Blackpool

Lancashire

FY3 7XQ

REGISTERED NUMBER:

01137240 (England and Wales)

ACCOUNTANTS:

Keenan Chartered Accountants

The Old Surgery

43 Derbe Road

Lytham St Annes

Lancashire

FY8 1NJ

BANKERS:

Barclays Bank

PO Box 8

2/4 Birley Street

Blackpool

FY1 1DX

FIXED ASSETS

Tangible assets

4

43,935

41,638

Investments

5

2

Investment property

6

2,526,563

2,141,563

2,570,500

2,183,203

CURRENT ASSETS

Debtors

7

1,336,492

1,664,073

Cash at bank

4,624,233

4,124,691

5,960,725

5,788,764

CREDITORS

Amounts falling due within one year

8

127,503

19,549

NET CURRENT ASSETS

5,833,222

5,769,215

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,403,722

7,952,418

PROVISIONS FOR LIABILITIES

199,136

210,761

NET ASSETS

8,204,586

7,741,657

CAPITAL AND RESERVES

Called up share capital

100,000

Fair value reserve

921,499

632,982

Retained earnings

7,183,087

7,008,675

SHAREHOLDERS' FUNDS

8,204,586

7,741,657

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 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.

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 Board of Directors and authorised for issue on 7 November 2025 and were signed on its behalf by:

G Smart - Director

1.	STATUTORY INFORMATION

Singleton & Smart (Holdings) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Singleton & Smart (Holdings) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents rent receivable and the sale proceeds of properties held as stock. Rents receivable relates to income receivable from properties leased to subsidiary companies as trading premises and also third parties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

All fixed assets are initially recorded at cost.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

Deferred tax relating to fair value adjustments are taken to the Fair Value Reserve.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions for liabilities

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably.

Financial instruments

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at a fair value less transaction costs and subsequently at amortised cost, net of impairment.

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

Trade and other creditors are initially recognised at the transaction price and are therefore stated at amortised cost using the effective interest method unless the discounting would be immaterial, in which case they are stated at cost.

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST

At 29 February 2024

5,471

55,400

60,871

Additions

-

58,480

Disposals

-

(55,400

)

(55,400

)

At 28 February 2025

5,471

58,480

63,951

DEPRECIATION

At 29 February 2024

5,383

13,850

19,233

Charge for year

13

14,620

14,633

Eliminated on disposal

-

(13,850

)

(13,850

)

At 28 February 2025

5,396

14,620

20,016

NET BOOK VALUE

At 28 February 2025

75

43,860

43,935

At 28 February 2024

88

41,550

41,638

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 29 February 2024

and 28 February 2025

286,952

PROVISIONS

At 29 February 2024

and 28 February 2025

286,950

NET BOOK VALUE

At 28 February 2025

2

At 28 February 2024

2

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 29 February 2024

2,141,563

Revaluations

385,000

At 28 February 2025

2,526,563

NET BOOK VALUE

At 28 February 2025

2,526,563

At 28 February 2024

2,141,563

The investment properties were valued in September 2024 by Chartered Surveyors and the directors believe these valuations are appropriate at the Balance Sheet date.

7.

DEBTORS

28.2.25

28.2.24

£

Amounts falling due within one year:

Trade debtors

12,434

11,760

Amounts owed by group undertakings

494

134,112

Other debtors

415,406

215,377

428,334

361,249

Amounts falling due after more than one year:

Other debtors

908,158

1,302,824

Aggregate amounts

1,336,492

1,664,073

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

28.2.24

£

Trade creditors

3,063

3,317

Taxation and social security

115,538

6,672

Other creditors

8,902

9,560

127,503

19,549

9.	CONTINGENT LIABILITIES

A group VAT registration was in existence during the year. On 28 February 2025, the amount due to HM Revenue and Customs in relation to other group companies totalled £35,121 (2024 - £41,379).

10.	OTHER FINANCIAL COMMITMENTS

As at 28 February 2025, the company had no commitments under non-cancellable operating leases over the remaining life of those leases. (2024 - £Nil).

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.