Scientific Management Associates (Proper - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09897412 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

SCIENTIFIC MANAGEMENT ASSOCIATES

(PROPERTIES) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C W Glatis

M J Traviss

REGISTERED OFFICE:

Newtown House

38 Newtown Road

Liphook

Hampshire

GU30 7DX

REGISTERED NUMBER:

09897412 (England and Wales)

ACCOUNTANTS:

Traviss & Co Ltd

Chartered Certified Accountants

Newtown House

38 Newtown Road

Liphook

Hampshire

GU30 7DX

FIXED ASSETS

Investment property

4

716,000

716,000

CURRENT ASSETS

Debtors

5

48,789

5,603

Cash at bank

13,796

7,752

62,585

13,355

CREDITORS

Amounts falling due within one year

6

568,468

531,804

NET CURRENT LIABILITIES

(505,883

)

(518,449

)

TOTAL ASSETS LESS CURRENT LIABILITIES

210,117

197,551

CAPITAL AND RESERVES

Called up share capital

1

1

Demerger reserve

7

371,888

371,888

Retained earnings

(161,772

)

(174,338

)

SHAREHOLDERS' FUNDS

210,117

197,551

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 August 2023 and were signed on its behalf by:

M J Traviss - Director

1.	STATUTORY INFORMATION

Scientific Management Associates (Properties) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2022

and 31 December 2022

716,000

NET BOOK VALUE

At 31 December 2022

716,000

At 31 December 2021

716,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

48,789

5,603

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

-

7,463

Amounts owed to group undertakings

517,342

518,848

Amounts owed to participating interests

42,000

-

Other creditors

9,126

5,493

568,468

531,804

7.

RESERVES

Demerger

reserve

£

At 1 January 2022

and 31 December 2022

371,888