1 Smithfield Square Ltd 31/03/2025 iXBRL

1 Smithfield Square Ltd

Filleted accounts

31 March 2025

Company registration number: 08623011

1 Smithfield Square Ltd

Directors and other information


	Director	G M El-Kassir


	Secretary	N V Walsh


	Company number	08623011


	Registered office	7200 The Quorum
		Oxford Business Park North
		Oxford
		OX4 2JZ


	Auditor	Cox Hinkins Audit Services Limited
		The Old Dairy
		12 Stephen Road
		Headington
		Oxford
		OX3 9AY

1 Smithfield Square Ltd

Director's responsibilities statement

Year ended 31st March 2025

The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

1 Smithfield Square Ltd

Balance sheet

31st March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	-		465,000
		_______		_______
			-		465,000

Current assets
Debtors	6	931,042		597,115
Cash at bank and in hand		-		18,241
		_______		_______
		931,042		615,356
Creditors: amounts falling due
within one year	7	( 5,508)		( 15,085)
		_______		_______
Net current assets			925,534		600,271
			_______		_______
Total assets less current liabilities			925,534		1,065,271

Creditors: amounts falling due
after more than one year	8		-		( 143,360)

Provisions for liabilities	9		-		( 27,148)

			_______		_______
Net assets			925,534		894,763
			_______		_______

Capital and reserves
Called up share capital	11		100		100
Revaluation reserve			-		139,598
Profit and loss account			925,434		755,065
			_______		_______
Shareholders funds			925,534		894,763
			_______		_______

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

G M El-Kassir

Director

Company registration number: 08623011

1 Smithfield Square Ltd

Notes to the financial statements

Year ended 31st March 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 7200 The Quorum, Oxford Business Park North, Oxford, OX4 2JZ. There was no significant change in the company's principal activity during the year which continued to be the rental of real estate.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis except that as disclosed in the accounting policies, certain items are shown at fair value. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the rental of properties, net of discounts and Value Added Tax. Revenue from the rental of properties is measured by reference to the rental receipts accruing over the rental period as at the end of the reporting period provided that the receipts can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties. Financial assets that are measured at cost and amortised and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: Nil).

5. Tangible assets

	Freehold property	Total
	£	£
Cost
At 1st April 2024	465,000	465,000
Disposals	( 465,000)	( 465,000)
	_______	_______
At 31st March 2025	-	-
	_______	_______
Depreciation
At 1st April 2024 and 31st March 2025	-	-
	_______	_______
Carrying amount
At 31st March 2025	-	-
	_______	_______
At 31st March 2024	465,000	465,000
	_______	_______
The company's freehold property represents investment properties which were valued at an open market value by the director on 31st March 2024. The historical cost of the investment properties was £298,254.

6. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	904,775	242,030
Other debtors	26,267	355,085
	_______	_______
	931,042	597,115
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	-	10,492
Other creditors	5,508	4,593
	_______	_______
	5,508	15,085
	_______	_______

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	-	143,360
	_______	_______

The bank loan was secured on the company's assets and was an interest only loan with the capital being repayable within five years.

9. Provisions

	Deferred tax (note 10)	Total
	£	£
At 1st April 2024	27,148	27,148
Charges against provisions	( 27,148)	( 27,148)
	_______	_______
At 31st March 2025	-	-
	_______	_______

10. Deferred tax

The deferred tax included in the Balance sheet is as follows:

	2025	2024
	£	£
Included in provisions (note 9)	-	27,148
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Fair value adjustment of investment property	-	27,148
	_______	_______

11. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______

12. Summary audit opinion

The auditor's report dated 23 December 2025 was unqualified.

The senior statutory auditor was Rodney Mark Morgan for and on behalf of Cox Hinkins Audit Services Limited

13. Controlling party

The company is under the control of GRE Capital Ltd , a company incorporated in England & Wales, which owns 100% of the issued share capital. GRE Capital Ltd prepares consolidated financial statements for the group.