Company registration number 04380501 (England and Wales)
SMTM HOLDING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
SMTM HOLDING LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
SMTM HOLDING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
1,533,379
1,567,954
Investments
4
243,911
243,911
1,777,290
1,811,865
Current assets
Trade and other receivables
6
4,921,469
4,313,974
Cash and cash equivalents
711
459
4,922,180
4,314,433
Current liabilities
7
(5,631,885)
(5,088,893)
Net current liabilities
(709,705)
(774,460)
Total assets less current liabilities
1,067,585
1,037,405
Provisions for liabilities
8
(45,566)
(45,566)
Net assets
1,022,019
991,839
Equity
Called up share capital
9
5,451
5,451
Share premium account
59,319
59,319
Revaluation reserve
10
182,263
182,263
Retained earnings
774,986
744,806
Total equity
1,022,019
991,839

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 July 2026 and are signed on its behalf by:
Mr T Ghandour
Director
Company registration number 04380501 (England and Wales)
SMTM HOLDING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Share capital
Share premium account
Revaluation reserve
Retained earnings
Total
£
£
£
£
£
Balance at 1 January 2024
5,451
59,319
182,263
737,878
984,911
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
-
6,928
6,928
Balance at 31 December 2024
5,451
59,319
182,263
744,806
991,839
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
-
30,180
30,180
Balance at 31 December 2025
5,451
59,319
182,263
774,986
1,022,019
SMTM HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

SMTM Holding Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hawthorn House, Moonhall Business Park, Helions Bumpstead Road, Haverhill, CB9 7AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

Property rented to a group entity is accounted for as property, plant and equipment using the cost model.

1.5
Non-current investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

SMTM HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

SMTM HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
4
4
SMTM HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
3
Property, plant and equipment
Freehold land and buildings
£
Cost or valuation
At 1 January 2025 and 31 December 2025
1,728,755
Depreciation and impairment
At 1 January 2025
160,801
Depreciation charged in the year
34,575
At 31 December 2025
195,376
Carrying amount
At 31 December 2025
1,533,379
At 31 December 2024
1,567,954

Freehold land and buildings comprises a n investment property held at Hawthorn House, Helions Bumpstead Road, Haverhill. The investment property is rented to another group entity and is accounted for using the cost model. The carrying value of the investment property included within property, plant and equipment is £1,533,379 (2024 - £1,567,954).

If the investment property had been measured using the historical cost method, the carrying amounts would be as follows:

Freehold land and buildings
2025
2024
£
£
Cost
1,699,961
1,699,961
Accumulated depreciation
(457,312)
(422,737)
Carrying value
1,242,649
1,277,224
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
243,911
243,911

The company has not designated any financial assets that are not classified as financial assets at fair value through profit or loss.

SMTM HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
5
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Indirect
Don Construction Products Limited
England and Wales
Manufacture of paints, varnishes and similar coatings, mastics and sealants
Ordinary
100.00
0
SMTM HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
6
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
4,919,449
4,312,088
Other receivables
2,020
1,886
4,921,469
4,313,974
7
Current liabilities
2025
2024
£
£
Bank loans
-
0
356,111
Amounts owed to group undertakings
5,625,641
4,726,141
Taxation and social security
3,559
3,088
Other payables
2,685
3,553
5,631,885
5,088,893
8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
45,566
45,566
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
5,451
5,451
5,451
5,451
SMTM HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
10
Revaluation reserve

The revaluation reserve relates to the revaluation of property, plant and equipment immediately before its reclassification as investment property.

11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Colin Hamilton
Statutory Auditor:
Ward Williams Limited
Date of audit report:
14 August 2026
12
Related party transactions

The company has taken advantage of the exemption in FRS102 section 33 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the parent company. The consolidated financial statements are available from Hawthorn House, Helions Bumpstead Road, Haverhill, Suffolk, CB9 7AA.

13
Parent company

The immediate parent company is Don Construction Holdings Limited, a company registered in England and Wales.

O n 30 March 2026, after the reporting date, the shareholders of the Don Construction Holdings Limited transferred their entire shareholdings in that company to Arvedon Limited, a company incorporated in Cyprus. As a result of the transfer the ultimate parent company of the group became Arvedon Limited.

The results are included in the consolidated financial statements of Don Construction Holdings Limited, which can be obtained from Hawthorn House, Helions Bumpstead Road, Haverhill, Suffolk, CB9 7AA.

2025-12-31 2025-01-01 false false false 14 August 2026 CCH Software CCH Accounts Production 2026.200 No description of principal activity Mr T Ghandour Mr J F Igoe Mr M Alshanteer Mr Y Al-Ayoub 04380501 2025-01-01 2025-12-31 04380501 2025-12-31 04380501 2024-12-31 04380501 core:WithinOneYear 2025-12-31 04380501 core:WithinOneYear 2024-12-31 04380501 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 04380501 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04380501 core:ShareCapital 2025-12-31 04380501 core:ShareCapital 2024-12-31 04380501 core:SharePremium 2025-12-31 04380501 core:SharePremium 2024-12-31 04380501 core:RevaluationReserve 2025-12-31 04380501 core:RevaluationReserve 2024-12-31 04380501 core:RetainedEarningsAccumulatedLosses 2025-12-31 04380501 core:RetainedEarningsAccumulatedLosses 2024-12-31 04380501 core:ShareCapital 2023-12-31 04380501 core:SharePremium 2023-12-31 04380501 core:RevaluationReserve 2023-12-31 04380501 core:RetainedEarningsAccumulatedLosses 2023-12-31 04380501 core:ShareCapitalOrdinaryShareClass1 2025-12-31 04380501 core:ShareCapitalOrdinaryShareClass1 2024-12-31 04380501 bus:Director1 2025-01-01 2025-12-31 04380501 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 04380501 2024-01-01 2024-12-31 04380501 core:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 04380501 core:LandBuildings core:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 04380501 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 04380501 core:LandBuildings core:OwnedOrFreeholdAssets 2025-12-31 04380501 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 04380501 core:Subsidiary1 2025-01-01 2025-12-31 04380501 core:Subsidiary1 1 2025-01-01 2025-12-31 04380501 core:CurrentFinancialInstruments 2024-12-31 04380501 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 04380501 bus:OrdinaryShareClass1 2025-12-31 04380501 bus:OrdinaryShareClass1 2024-12-31 04380501 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 04380501 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 04380501 bus:FRS102 2025-01-01 2025-12-31 04380501 bus:Audited 2025-01-01 2025-12-31 04380501 bus:Director2 2025-01-01 2025-12-31 04380501 bus:Director3 2025-01-01 2025-12-31 04380501 bus:Director4 2025-01-01 2025-12-31 04380501 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP