Registration number: 08212037

DW Smith Lettings Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 11

DW Smith Lettings Limited

Company Information

Directors

Mr David Smith Mrs Carina Smith

Registered office

3 The Office Village Roman Way Bath Business Park Peasedown St John Bath BA2 8SG

Accountants

Delphi Accounting Ltd Chartered Tax Advisor3 The Office Village Roman Way Bath Business Park Peasedown St John Bath BA2 8SG

DW Smith Lettings Limited

(Registration number: 08212037)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	4	2,337	16,337
Tangible assets	5	50,321	57,876
		52,658	74,213
Current assets
Debtors	6	72,355	24,239
Cash at bank and in hand		3,958	45,586
		76,313	69,825
Creditors: Amounts falling due within one year	7	(100,080)	(95,025)
Net current liabilities		(23,767)	(25,200)
Total assets less current liabilities		28,891	49,013
Creditors: Amounts falling due after more than one year	7	(15,996)	(20,581)
Provisions for liabilities		(12,580)	(13,095)
Net assets		315	15,337
Capital and reserves
Called up share capital	8	10	10
Retained earnings		305	15,327
Shareholders' funds		315	15,337

For the financial year ending 31 March 2026 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 12 August 2026 and signed on its behalf by:
 

......................................... Mr David Smith Director

DW Smith Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

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

The address of its registered office is:
3 The Office Village
Roman Way
Bath Business Park
Peasedown St John
Bath
BA2 8SG

These financial statements were authorised for issue by the Board on 12 August 2026.

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.

DW Smith Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

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
Fixtures & Fittings	15% RBM
Office Equipment	25% RBM

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20% SLM

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

DW Smith Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2025 - 10).

DW Smith Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2025	170,000	170,000
At 31 March 2026	170,000	170,000
Amortisation
At 1 April 2025	153,663	153,663
Amortisation charge	14,000	14,000
At 31 March 2026	167,663	167,663
Carrying amount
At 31 March 2026	2,337	2,337
At 31 March 2025	16,337	16,337

5	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 April 2025	84,905	26,053	110,958
Additions	1,717	1,098	2,815
At 31 March 2026	86,622	27,151	113,773
Depreciation
At 1 April 2025	38,600	14,482	53,082
Charge for the year	7,203	3,167	10,370
At 31 March 2026	45,803	17,649	63,452
Carrying amount
At 31 March 2026	40,819	9,502	50,321
At 31 March 2025	46,305	11,571	57,876

DW Smith Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

6

Debtors

Current	2026 £	2025 £
Trade debtors	5,012	34
Prepayments	3,097	542
Other debtors	64,246	23,663
	72,355	24,239

DW Smith Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	24,366	14,795
Trade creditors		13,825	6,973
Taxation and social security		59,499	67,774
Accruals and deferred income		1,300	-
Other creditors		1,090	5,483
		100,080	95,025

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	9	15,996	20,581

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary A Shares of £1 each	9	9	9	9
Ordinary B Shares of £1 each	1	1	1	1
	10	10	10	10

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	15,996	20,581

DW Smith Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	11,665	14,795
Bank overdrafts	12,701	-
	24,366	14,795

10	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2026 £	2025 £
Not later than one year	30,494	791
Later than one year and not later than five years	2,318	37,748
	32,812	38,539

The amount of non-cancellable operating lease payments recognised as an expense during the year was £49,126 (2025 - £26,388).

11

Dividends

Interim dividends paid

		2026 £		2025 £
Interim dividend of £3,200.00 (2025 - £6,000.00) per each Ordinary A Shares		28,800		54,000
Interim dividend of £37,700.00 (2025 - £48,750.00) per each Ordinary B Shares		37,700		48,750
		66,500		102,750

12	Related party transactions

DW Smith Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Directors' remuneration

The directors' remuneration for the year was as follows:

	2026 £	2025 £
Remuneration	12,570	12,570
Contributions paid to money purchase schemes	30,500	24,000
	43,070	36,570