REGISTERED NUMBER: 15297726 (England and Wales)

Unaudited Financial Statements

For The Period 1 January 2024 to 31 March 2025

for

The Smithfield Project Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N J Hartwright

REGISTERED OFFICE:

4 Thameside Industrial Estate

Factory Road

c/o The Factory Project

London

E16 2HB

REGISTERED NUMBER:

15297726 (England and Wales)

ACCOUNTANTS:

Fuller Spurling

Mill House

58 Guildford Street

Chertsey

Surrey

KT16 9BE

CURRENT ASSETS

Debtors

5

301,337

-

Cash at bank and in hand

1,657

-

302,994

-

CREDITORS

Amounts falling due within one year

6

588,470

-

NET CURRENT LIABILITIES

(285,476

)

-

TOTAL ASSETS LESS CURRENT LIABILITIES

(285,476

)

-

RESERVES

Income and expenditure account

(285,476

)

-

(285,476

)

-

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 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 surplus or deficit 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 director and authorised for issue on 12 May 2026 and were signed by:

N J Hartwright - Director

1.	STATUTORY INFORMATION

The Smithfield Project Ltd is a private company, limited by guarantee , 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.

Going concern

Although the company is insolvent, the accounts are prepared on a going concern basis as it is the directors' view that the company can meet its obligations for the foreseeable future.

Turnover

Turnover represents the rent and licence fee income arising from the use of the premises provided by the company to its customers. Income is recognised on a time-elapsed basis where rental covers longer periods.

Tangible fixed assets

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

Improvements to property

-

24% on cost

Grant income

Capital grants received to finance the acquisition or construction of fixed assets are offset against the associated capital cost incurred.

Revenue grants are recognised as income only when the performance related conditions have been met. Where funding is received in advance of satisfying these conditions, it is recognised as deferred income until the conditions are fulfilled. Where there is uncertainty over whether conditions will be met, recognition is deferred until sufficient evidence exists.

If conditions are not met, or it becomes probable that the grant (or part of it) will be repayable, a liability is recognised for the expected repayment, and any previously recognised income is reversed where appropriate.

Taxation

Taxation for the period 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 period 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.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors

Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Improvements

to

property

£

COST

Additions

77,117

Grants

(77,117

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.12.23

£

£

Trade debtors

7,949

-

Other debtors

275,013

-

Prepayments

18,375

-

301,337

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.12.23

£

£

Trade creditors

197,807

-

VAT

50,812

-

Other creditors

140,427

-

Directors' current accounts

2,343

-

Accruals and deferred income

197,081

-

588,470

-