Registered number
03104372
SMB Professional Services Limited
Filleted Accounts
31 March 2023
SMB Professional Services Limited
Registered number: 03104372
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 593 593
Current assets
Debtors 4 148,784 18,968
Cash at bank and in hand 186,222 272,898
335,006 291,866
Creditors: amounts falling due within one year 5 (98,200) (115,408)
Net current assets 236,806 176,458
Total assets less current liabilities 237,399 177,051
Creditors: amounts falling due after more than one year 6 (23,277) (32,928)
Net assets 214,122 144,123
Capital and reserves
Called up share capital 2,132 2,000
Profit and loss account 211,990 142,123
Shareholders' funds 214,122 144,123
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Christopher Arkell
Director
Approved by the board on 18 October 2023
SMB Professional Services Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 April 2022 293 300 593
At 31 March 2023 293 300 593
4 Debtors 2023 2022
£ £
Trade debtors 131,869 5,755
Amounts owed by group undertakings and undertakings in which the company has a participating interest 16,765 13,063
Other debtors 150 150
148,784 18,968
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,167 9,167
Trade creditors - 6
Amounts owed to group undertakings and undertakings in which the company has a participating interest 10,403 53,059
Taxation and social security costs 69,785 36,824
Other creditors 8,845 16,352
98,200 115,408
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 23,277 32,928
7 Other information
SMB Professional Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
32 Addison Grove
Bedford Park
London
W4 1ER
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