SMICO Enterprises Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09391907

SMICO Enterprises Limited

Filleted Unaudited Financial Statements

31 January 2026

SMICO Enterprises Limited

Statement of Financial Position

31 January 2026

	2026		2025
			(restated)
Note	£	£	£

Fixed assets

Investments	6		33,152,609	33,819,336

Current assets

Debtors	7	891,045	891,045
Cash at bank and in hand		1,539,398	825,173
		------------	------------
		2,430,443	1,716,218

Creditors: amounts falling due within one year	8	434,321		391,877
		------------		------------
Net current assets			1,996,122	1,324,341
			-------------	-------------
Total assets less current liabilities			35,148,731	35,143,677

Provisions

Taxation including deferred tax	1,432,047	2,151,346
	-------------	-------------
Net assets	33,716,684	32,992,331
	-------------	-------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	33,716,584	32,992,231
	-------------	-------------
Shareholders funds	33,716,684	32,992,331
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SMICO Enterprises Limited

Statement of Financial Position (continued)

31 January 2026

These financial statements were approved by the board of directors and authorised for issue on 29 October 2026 , and are signed on behalf of the board by:

Mr S Miron

Director

Company registration number: 09391907

SMICO Enterprises Limited

Notes to the Financial Statements

Year ended 31 January 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First floor, 1 Duchess Street, London, W1W 6AN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investments

Investments are measured at fair value with changes in fair value being recognised in profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2025: 1 ).

5. Tax on profit

		2026	2025
		£	£

	UK corporation tax on profit for the period	877,445	1,114,749

	Deferred tax	(719,299)	2,151,346

	---------	------------
Tax on profit on ordinary activities	158,146	3,266,095

6. Investments

	Investments
	£
Valuation
At 1 February 2025 as restated	33,819,336
Additions	2,190,077
Disposals	( 52,539)
Revaluations	( 2,804,265)
	-------------
At 31 January 2026	33,152,609
	-------------
Impairment
At 1 February 2025 as restated and 31 January 2026	–
	-------------

Carrying amount
At 31 January 2026	33,152,609
	-------------
At 31 January 2025	33,819,336
	-------------

7. Debtors

	2026	2025
		(restated)
	£	£
Other debtors	891,045	891,045
	---------	---------

8. Creditors: amounts falling due within one year

	2026	2025
		(restated)
	£	£
Corporation tax	426,881	384,437
Other creditors	7,440	7,440
	---------	---------
	434,321	391,877
	---------	---------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2026	2025
		(restated)
	£	£
Included in provisions	1,432,047	2,151,346
	------------	------------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2026	2025
		(restated)
	£	£
Fair value adjustment of financial assets	1,432,047	2,151,346
	------------	------------

The deferred tax provision relates wholly to unrealised gains on the equity element of the company's investment portfolio, which is carried at fair value through profit or loss in accordance with the accounting policy set out in note 3. Provision is made at 25%, being the rate at which the gains are expected to be taxed when realised, on the excess of the market value of the relevant holdings over their tax base cost.

10. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2026	2025
		(restated)
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	33,152,609	33,819,336
	-------------	-------------

11. Prior period adjustments

The deferred tax liability at 31 January 2025 was amended to reflect the charge of £2,151,346 arising on the portfolio revaluation at that date. The comparatives have been restated under FRS 102 Section 10, reducing net assets by £2,151,346 and increasing the deferred tax charge by the same amount.

12. Related party transactions

At the year end the company was due £891,045 (2025: £891,045) from SM Enterprises (UK) Limited, a company under the control of Mr S Miron . The loan was interest free and repayable on demand.