The pair have travelled the short distance down the road from nearby Prescot Cables.
Manager Reid holds a UEFA A coaching licence and has had spells coaching at Swindon Town and Plymouth Argyle.
During his professional playing career he played over 400 games at Rochdale, twice, Preston North End, Bury and Chester City. He has also scouted for Sunderland and Portsmouth and worked in football as an agent.
He is the younger brother of former England and Everton star Peter Reid.
Smith had two spells as a player at Warrington Town and was a member of the team that won promotion from the North West Counties in 2001.
The pair are preparing for their first game in charge which will be the long trip to Durham on Saturday, kick off 3pm.
Welcoming the pair to Cantilever Park Chairman Gary Skentelbery said: "Shaun has ambitions of managing in the football league one day and we have ambitions to be there as a club. We realise it is not going to be an easy journey and will involve a lot of hard work for everyone connected with the club.
He continued "We wish Shaun and Lee well and look forward to working with them."