P R Smyth (Skinnergate) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00924346 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

P R Smyth (Skinnergate) Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

25

33

Investments

5

315,278

335,783

Investment property

6

1,026,000

1,125,000

1,341,303

1,460,816

CURRENT ASSETS

Debtors

7

12,678

10,745

Cash at bank

62,267

95,806

74,945

106,551

CREDITORS

Amounts falling due within one year

8

22,753

31,144

NET CURRENT ASSETS

52,192

75,407

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,393,495

1,536,223

PROVISIONS FOR LIABILITIES

33,926

61,241

NET ASSETS

1,359,569

1,474,982

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

- non distributable

601,670

591,944

Retained earnings

757,799

882,938

SHAREHOLDERS' FUNDS

1,359,569

1,474,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 19 December 2025 and were signed on its behalf by:

Mrs N S Godfrey - Director

1.	STATUTORY INFORMATION

P R Smyth (Skinnergate) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00924346

Registered office:

Barrow Lodge

Colethorpe Lane

Barrow

Suffolk

IP29 5BG

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.

Turnover

Turnover represents rental income receivable including rents due for the period but not received by the balance sheet date and excluding rents received in advance relating to the following accounting period.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, 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, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

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.

Investments

Investments in shares are included at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

1,033

DEPRECIATION

At 1 April 2024

1,000

Charge for year

8

At 31 March 2025

1,008

NET BOOK VALUE

At 31 March 2025

25

At 31 March 2024

33

5.	FIXED ASSET INVESTMENTS

Investments

£

COST OR VALUATION

At 1 April 2024

335,783

Additions

102,512

Disposals

(106,131

)

Revaluations

(16,886

)

At 31 March 2025

315,278

NET BOOK VALUE

At 31 March 2025

315,278

At 31 March 2024

335,783

Cost or valuation at 31 March 2025 is represented by:

Investments

£

Valuation in 2017

40,913

Valuation in 2018

3,693

Valuation in 2019

10,181

Valuation in 2020

(51,507

)

Valuation in 2021

77,825

Valuation in 2022

18,341

Valuation in 2023

(25,696

)

Valuation in 2024

20,741

Valuation in 2025

(17,589

)

Cost

238,376

315,278

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,125,000

Revaluations

(99,000

)

At 31 March 2025

1,026,000

NET BOOK VALUE

At 31 March 2025

1,026,000

At 31 March 2024

1,125,000

Investment properties were valued by the directors on an open market basis on 31 March 2025.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

12,553

7,725

Prepayments and accrued income

125

3,020

12,678

10,745

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

-

2,895

Tax

8,514

11,539

Other creditors

7,286

Directors' loan accounts

2,354

Accrued expenses

4,599

7,070

22,753

31,144

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

100

Ordinary

£1

100