SMITHFIELD LIMITED

1. SMITHFIELD LIMITED 1996-03-15 → present
2. GS ONE LIMITED 1994-12-12 → 1996-03-15

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors expect the Company to generate sufficient profits and maintain sufficient working capital resources to continue in operation for the foreseeable future (being at least 12 months from the date of this report) and, as such, the directors believe that it is appropriate to prepare the financial statements on a going concern basis.”

Group structure

1. SMITHFIELD LIMITED · parent
   1. Old Kingsway LP 99.5% · US · Investor in US LPs owning property interests
   2. Randolph Street LP 50% · US · General Partner of Old Kingsway LP and investor in US LPs Owning property interests
   3. Fashion Square ECO LP 50% · US · Operator of solar panels
   4. Aldwych LP 99% · USA · Investor in US LPs owning property interests
   5. SOFA Holding Company LP 99.5% · USA · Investor in US LPs owning property interests
   6. Westland Garden State Plaza LP 49.5% · US · Owns Garden State Plaza property
   7. Sherman Oaks Fashion Associations LP 49.7% · US · Owns Fashion Square property
   8. GSP Sponsor 1 LP 49.5% · US · Owns Garden State Plaza property

Significant events

• “During 2024 sales and footfall improved year on year with sales of $547m and 13.1m footfall for FY24. Leasing activity remained strong with 30 lettings and 33 renewals in the centre.”
• “Between January and April 2025, the US Government imposed a series of tariffs on US imports from many of its trading partners. In response, some trading partners have imposed retaliatory tariff increases.”
• “In February 2022, Russia invaded Ukraine which led to a number of sanctions levered against senior members of the Russian government, and significant individuals related to the Russian state.”
• “In 2024 Planning Board unanimously approved and adopted Phase 1 preliminary and final site plan for 47,000sq.ft retail and 575 apartments. Preliminary site plan approval was given for Future Phases 2-4...”
• “In March 2025, two shareholder loans held between Old Kingsway LP 'The Borrower' and PACL 'The Lender' were capitalised. The capitalised loan amounts were US$92,453,194.54 and US$12,545,405.46 respectively 'The Loans'.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

1

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +52.8%

  £6,985,439 → £10,675,299

• Cash

  +53.6%

  £1,586,755 → £2,437,208

• Net assets

  -2%

  £229,303,119 → £224,711,022

• Employees

  —

  Not reported

• Operating profit

  +52.7%

  £6,901,235 → £10,535,620

• Profit before tax

  +53.6%

  £6,882,010 → £10,574,107

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers