SMS Corporate Partner Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06950010

SMS CORPORATE PARTNER LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

31 March 2025

SMS CORPORATE PARTNER LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	95,987	106,655
Investments	6	9,460,591	4,281,452
		------------	------------
		9,556,578	4,388,107

Current assets

Debtors	7	2,163,757	1,071,188
Cash at bank and in hand		736,035	2,969,279
		------------	------------
		2,899,792	4,040,467

Creditors: amounts falling due within one year	8	( 4,616,301)		( 1,440,814)
		------------		------------
Net current (liabilities)/assets			( 1,716,509)	2,599,653
			------------	------------
Total assets less current liabilities			7,840,069	6,987,760
			------------	------------
Net assets			7,840,069	6,987,760
			------------	------------

Capital and reserves

Called up share capital	456	456
Capital redemption reserve	544	544
Profit and loss account	7,839,069	6,986,760
	------------	------------
Shareholders funds	7,840,069	6,987,760
	------------	------------

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 statement of income and retained earnings has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SMS CORPORATE PARTNER LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

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:

P F Tutin

Director

Company registration number: 06950010

SMS CORPORATE PARTNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, LN1 1XW.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. No significant judgements or estimates have been made by management in the process of applying the entity's accounting policies that would have a significant effect on the amounts recognised in the financial statements.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year exclusive of Value Added Tax, and is inclusive of accrued income for any work done not invoiced. Given the nature of the services provided the billings plus any accrued income represent the fair value of the services provided.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Amortisation

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

	Goodwill	-	10% straight line

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

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2024: 8 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	684,756
	---------
Amortisation
At 1 April 2024	578,101
Charge for the year	10,668
	---------
At 31 March 2025	588,769
	---------
Carrying amount
At 31 March 2025	95,987
	---------
At 31 March 2024	106,655
	---------

6. Investments

	Shares in group undertakings	Shares in participating interests	Total
	£	£	£
Cost
At 1 April 2024	2,479,225	1,902,227	4,381,452
Additions	5,179,139	–	5,179,139
	------------	------------	------------
At 31 March 2025	7,658,364	1,902,227	9,560,591
	------------	------------	------------
Impairment
At 1 April 2024 and 31 March 2025	100,000	–	100,000
	------------	------------	------------

Carrying amount
At 31 March 2025	7,558,364	1,902,227	9,460,591
	------------	------------	------------
At 31 March 2024	2,379,225	1,902,227	4,281,452
	------------	------------	------------

7. Debtors

	2025	2024
	£	£
Trade debtors	316,691	462,379
Amounts owed by group undertakings and undertakings in which the company has a participating interest	328,536	66,105
Other debtors	1,518,530	542,704
	------------	------------
	2,163,757	1,071,188
	------------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	269,628	51,828
Amounts owed to group undertakings and undertakings in which the company has a participating interest	164,818	68,000
Corporation tax	–	128,150
Social security and other taxes	21,703	33,539
Other creditors	4,160,152	1,159,297
	------------	------------
	4,616,301	1,440,814
	------------	------------

9. Charges on assets

Natwest Bank hold a debenture which secures all amounts owing to the bank by any of the Streets entities. The debenture contains a fixed and floating charge over the assets of this limited company and other related Streets entities.

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	131,123	163,860
Later than 1 year and not later than 5 years	73,554	153,389
	---------	---------
	204,677	317,249
	---------	---------

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
M P J Bradshaw	–	220,000	( 15,000)	205,000
R C Lee	–	250,000	( 11,255)	238,745
	----	---------	--------	---------
	–	470,000	( 26,255)	443,745
	----	---------	--------	---------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
M P J Bradshaw	–	–	–	–
R C Lee	–	–	–	–
	----	----	----	----
	–	–	–	–
	----	----	----	----

Interest was paid on the loans to the Directors. No fixed repayment date has been agreed.

12. Related party transactions

The company is under the control of the partners in Streets Management Services, a general commercial partnership. The company did not enter into any transactions during the current or previous periods, such as would require disclosure in accordance with FRS 102 section 1A.