Smith & Jones Homes Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12905911

Smith & Jones Homes Ltd

Filleted Unaudited Financial Statements

31 March 2025

Smith & Jones Homes Ltd

Statement of Financial Position

31 March 2025

	31 Mar 25		30 Sep 23
Note	£	£	£	£

Current assets

Stocks		–	1,234,644
Debtors	5	511,095	213,080
Cash at bank and in hand		234,555	200,635
		----------	-------------
		745,650	1,648,359

Creditors: amounts falling due within one year	6	285,941		1,647,719
		----------		-------------
Net current assets			459,709		640
			----------		----
Total assets less current liabilities			459,709		640
			----------		----
Net assets			459,709		640
			----------		----

Capital and reserves

Called up share capital	7	640	640
Profit and loss account		459,069	–
		----------	----
Shareholders funds		459,709	640
		----------	----

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

Director's responsibilities:

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

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Smith & Jones Homes Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 15 December 2025 , and are signed on behalf of the board by:

Mr A Smith
Director

Company registration number: 12905911

Smith & Jones Homes Ltd

Notes to the Financial Statements

Period from 1st October 2023 to 31st 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 Emstrey House North, Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of property transactions is recognised as the properties are sold.

Income tax

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes a 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 intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

4. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to 1.

5. Debtors

	31 Mar 25	30 Sep 23
	£	£
Other debtors	511,095	213,080
	----------	----------

6. Creditors: amounts falling due within one year

	31 Mar 25	30 Sep 23
	£	£
Trade creditors	–	52
Other creditors	285,941	1,647,667
	----------	-------------
	285,941	1,647,719
	----------	-------------

7. Called up share capital

Issued, called up and fully paid

	31 Mar 25		30 Sep 23
	No.	£	No.	£
Ordinary 1 shares of £ 1 each	240	240	240	240
Ordinary B shares of £ 1 each	400	400	400	400
	----	----	----	----
	640	640	640	640
	----	----	----	----

8. Related party transactions

Included within other debtors due within one year is a loan of £483,295 (2023 - £209,155) to a company under control of the director. The interest free loan is repayable on demand.