REGISTERED NUMBER: 02871061 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SMITH MEEHAN LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K A Smith

REGISTERED OFFICE:

Office 19

Arrow Mill

Queensway

Rochdale

OL11 2YW

REGISTERED NUMBER:

02871061 (England and Wales)

ACCOUNTANTS:

TC Group

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

FIXED ASSETS

Tangible assets

4

208

7,052

Investments

5

10,001

10,001

Investment property

6

353,133

878,133

363,342

895,186

CURRENT ASSETS

Stocks

-

70,000

Debtors

405,418

223,674

Cash at bank

3,424

-

408,842

293,674

CREDITORS

Amounts falling due within one year

943,401

519,390

NET CURRENT LIABILITIES

(534,559

)

(225,716

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(171,217

)

669,470

CREDITORS

Amounts falling due after more than one year

7

-

508,459

NET (LIABILITIES)/ASSETS

(171,217

)

161,011

CAPITAL AND RESERVES

Called up share capital

75,000

75,000

Non distributable reserves

9

74,296

74,296

Retained earnings

(320,513

)

11,715

SHAREHOLDERS' FUNDS

(171,217

)

161,011

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 December 2025 and were signed by:

K A Smith - Director

1.	STATUTORY INFORMATION

Smith Meehan Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

50% on cost, 33% on cost and 25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

138,132

DEPRECIATION

At 1 January 2024

131,080

Charge for year

6,844

At 31 December 2024

137,924

NET BOOK VALUE

At 31 December 2024

208

At 31 December 2023

7,052

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2024

and 31 December 2024

10,001

NET BOOK VALUE

At 31 December 2024

10,001

At 31 December 2023

10,001

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

878,133

Disposals

(525,000

)

At 31 December 2024

353,133

NET BOOK VALUE

At 31 December 2024

353,133

At 31 December 2023

878,133

Fair value at 31 December 2024 is represented by:

£

Valuation in 2023

91,557

Cost

261,576

353,133

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2024

2023

£

£

Repayable by instalments

Bank loans more 5 yr by instal

-

116,499

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

97,987

100,036

Bank loans

638,938

606,449

736,925

706,485

9.

RESERVES

Non

distributable

reserves

£

At 1 January 2024

and 31 December 2024

74,296

10.	RELATED PARTY DISCLOSURES