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Registered number: 15807071
Smile Easy Properties Limited
Unaudited Financial Statements
For the Period 1 July 2025 to 31 January 2026
Strategic Partnership
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 15807071
31 January 2026 30 June 2025
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 574,626 574,626
574,626 574,626
CURRENT ASSETS
Debtors 5 51,819 -
Cash at bank and in hand 10,513 8,151
62,332 8,151
Creditors: Amounts Falling Due Within One Year 6 (211,317 ) (158,824 )
NET CURRENT ASSETS (LIABILITIES) (148,985 ) (150,673 )
TOTAL ASSETS LESS CURRENT LIABILITIES 425,641 423,953
Creditors: Amounts Falling Due After More Than One Year 7 (414,340 ) (423,977 )
NET ASSETS/(LIABILITIES) 11,301 (24 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 11,201 (124 )
SHAREHOLDERS' FUNDS 11,301 (24)
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Page 2
For the period ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Dr U Madhav
Director
20 October 2026
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Smile Easy Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15807071 . The registered office is 212 Bedford Road, Kempston, Bedford, England, MK42 8BL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements are prepared in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. Taxation
Taxation for the year 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 statement of financial position date.
Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
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2.6. 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.
2.7. Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers.These provisions are
estimated based upon the expected values of the invoices which are issued and services received following the period end.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1 (2025: 1)
1 1
4. Investment Property
31 January 2026
£
Fair Value
As at 1 July 2025 and 31 January 2026 574,626
5. Debtors
31 January 2026 30 June 2025
£ £
Due within one year
Other debtors 51,819 -
6. Creditors: Amounts Falling Due Within One Year
31 January 2026 30 June 2025
£ £
Bank loans and overdrafts 12,501 12,124
Corporation tax 3,037 -
Other creditors 187,362 144,630
Accruals and deferred income 720 720
Director's loan account 3,520 1,350
Amounts owed to group undertakings 4,177 -
211,317 158,824
7. Creditors: Amounts Falling Due After More Than One Year
31 January 2026 30 June 2025
£ £
Bank loans 414,340 423,977
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8. Share Capital
31 January 2026 30 June 2025
£ £
Allotted, Called up and fully paid 100 100
The nominal value per share is £1 and there are 100 Ordinary Shares in issue.
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