Registration number: 05846823

Living Smart Property Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Living Smart Property Ltd

(Registration number: 05846823)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	135,924	135,924
Tangible assets	5	20,485	27,313
Investment property	6	2,205,978	2,205,978
		2,362,387	2,369,215
Current assets
Debtors	7	877,365	994,280
Cash at bank and in hand		5,049	11,443
		882,414	1,005,723
Creditors: Amounts falling due within one year	8	(227,653)	(277,106)
Net current assets		654,761	728,617
Total assets less current liabilities		3,017,148	3,097,832
Creditors: Amounts falling due after more than one year	8	(1,429,611)	(1,342,902)
Provisions for liabilities		(5,121)	-
Net assets		1,582,416	1,754,930
Capital and reserves
Called up share capital		1,000	1,000
Retained earnings		1,581,416	1,753,930
Shareholders' funds		1,582,416	1,754,930

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 July 2026 and signed on its behalf by:
 

Living Smart Property Ltd

(Registration number: 05846823)
Balance Sheet as at 31 December 2025

......................................... Mr T Thorns Director

......................................... Mr B Thorns Director

Living Smart Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 33 Peel House
30 The Downs
Altricham
WA14 2PX
UK

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Living Smart Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	25% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Living Smart Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 January 2025	135,924	135,924
At 31 December 2025	135,924	135,924
Amortisation
Carrying amount
At 31 December 2025	135,924	135,924
At 31 December 2024	135,924	135,924

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2025	59,856	59,856
At 31 December 2025	59,856	59,856
Depreciation
At 1 January 2025	32,543	32,543
Charge for the year	6,828	6,828
At 31 December 2025	39,371	39,371
Carrying amount
At 31 December 2025	20,485	20,485
At 31 December 2024	27,313	27,313

Living Smart Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6	Investment properties

	2025 £
At 1 January	2,205,978
At 31 December	2,205,978

There has been no valuation of investment property by an independent valuer.

7

Debtors

Current	Note	2025 £	2024 £
Trade debtors		358	918
Amounts owed by related parties		849,847	962,139
Prepayments		5,316	5,156
Other debtors		21,844	26,067
		877,365	994,280

Living Smart Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	139,479	188,498
Trade creditors		2,945	8,529
Amounts owed to group undertakings and undertakings in which the company has a participating interest		51,379	50,151
Taxation and social security		3,461	16,178
Accruals and deferred income		10,958	16,228
Other creditors		19,431	(2,478)
		227,653	277,106