Company Registration No. 06180423 (England and Wales)
SMS RETAIL LIMITED
Unaudited accounts
for the year ended 31 March 2023
SMS RETAIL LIMITED
Unaudited accounts
Contents
SMS RETAIL LIMITED
Company Information
for the year ended 31 March 2023
Directors
MR. K. SINGH
MR. M.S. KHELA
MR. S.S. KHELA
Company Number
06180423 (England and Wales)
Registered Office
259 POUND ROAD
OLDBURY
WEST MIDLANDS
B68 8NQ
Accountants
Sanghera & Co.
Chartered Certified Accountants
43 Pear Tree Road
Great Barr
Birmingham
B43 6HX
SMS RETAIL LIMITED
Statement of financial position
as at 31 March 2023
Tangible assets
8,091
3,413
Cash at bank and in hand
37,989
63,252
Creditors: amounts falling due within one year
(40,230)
(27,964)
Net current assets
62,471
89,425
Total assets less current liabilities
70,562
92,838
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
68,925
92,090
Shareholders' funds
69,025
92,190
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 June 2023 and were signed on its behalf by
MR. M.S. KHELA
Director
Company Registration No. 06180423
SMS RETAIL LIMITED
Notes to the Accounts
for the year ended 31 March 2023
SMS RETAIL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06180423. The registered office is 259 POUND ROAD, OLDBURY, WEST MIDLANDS, B68 8NQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
SMS RETAIL LIMITED
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Total
5
Deferred taxation
2023
2022
Accelerated capital allowances
1,537
648
Provision at start of year
648
293
Charged to the profit and loss account
889
355
Provision at end of year
1,537
648
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
7
Average number of employees
During the year the average number of employees was 5 (2022: 4).