Smith Letting Services Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: SC724835

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		1,080,000		1,080,000

			1,080,000		1,080,000
CURRENT ASSETS
Cash at bank and in hand		22,278		8,647

		22,278		8,647
Creditors: Amounts Falling Due Within One Year	5	(302,884 )		(300,105 )

NET CURRENT ASSETS (LIABILITIES)			(280,606 )		(291,458 )

TOTAL ASSETS LESS CURRENT LIABILITIES			799,394		788,542

Creditors: Amounts Falling Due After More Than One Year	6		(718,279 )		(719,900 )

NET ASSETS			81,115		68,642

CAPITAL AND RESERVES
Called up share capital	7		800		800
Revaluation reserve	8		120,000		120,000
Income Statement			(39,685 )		(52,158 )

SHAREHOLDERS' FUNDS			81,115		68,642

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Smith Letting Services Limited

Statement of Financial Position (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mrs Lyndsay Yuill

Director

11/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Smith Letting Services Limited is a private company, limited by shares, incorporated in Scotland, registered number SC724835 . The registered office is 5 Wright Gardens, Bathgate, EH48 2XD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

The company recognises revenue when:

The amount of revenue can be reliably measured;

services have been provided and the right to consideration has been earned;

and collectability of the related receivables is fairly assured.

Rental income from operating leases (net of any incentives given to the lesees) is recognised on a straight-line basis over the lease term.

Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method.

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Smith Letting Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: )

4. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	1,080,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	960,000	960,000

The investment properties have been revalued on an open market basis.

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other creditors	302,884	300,105

6. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	718,279	719,900

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	800	800

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Smith Letting Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Reserves

	Revaluation reserve	Income Statement
	£	£
As at 1 April 2024	120,000	(52,158 )
Profit for the year and total comprehensive income	-	12,473

As at 31 March 2025	120,000	(39,685 )

9. Ultimate Controlling Party

The company's ultimate controlling party is directors by virtue of his ownership of 75% of the issued share capital in the company.

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