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REGISTERED NUMBER: 09695715 (England and Wales)










Smart Display & Exhibitions Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2023






Smart Display & Exhibitions Ltd (Registered number: 09695715)






Contents of the Financial Statements
for the year ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smart Display & Exhibitions Ltd

Company Information
for the year ended 31 July 2023







DIRECTOR: C P Stewart





REGISTERED OFFICE: Suite 3, Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ





REGISTERED NUMBER: 09695715 (England and Wales)





ACCOUNTANTS: Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

Smart Display & Exhibitions Ltd (Registered number: 09695715)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 107,171 56,837

CURRENT ASSETS
Debtors 5 265,289 346,163
Cash at bank and in hand 104,038 133,814
369,327 479,977
CREDITORS
Amounts falling due within one year 6 464,567 561,232
NET CURRENT LIABILITIES (95,240 ) (81,255 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,931

(24,418

)

CREDITORS
Amounts falling due after more than one
year

7

71,817

109,426
NET LIABILITIES (59,886 ) (133,844 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (59,887 ) (133,845 )
SHAREHOLDERS' FUNDS (59,886 ) (133,844 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Smart Display & Exhibitions Ltd (Registered number: 09695715)

Balance Sheet - continued
31 July 2023


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 director and authorised for issue on 2 November 2023 and were signed by:





C P Stewart - Director


Smart Display & Exhibitions Ltd (Registered number: 09695715)

Notes to the Financial Statements
for the year ended 31 July 2023

1. STATUTORY INFORMATION

Smart Display & Exhibitions Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
With the continued support of the company's bankers, landlord and council, the director believes it is correct to prepare the accounts on a going concern basis as the market and company fortunes continue to recover after the pandemic..

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

It is recognised on completion and delivery of an individual contract which comprises 20% being incurred in the preparation stages and 80% on delivery at the exhibition or show.

Smart Display & Exhibitions Ltd (Registered number: 09695715)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
All tangible fixed assets are at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Assets held under finance lease are depreciated in the same manner as owned assets.

Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mixture of methods. The depreciation bases are as follows:-

- Improvements to landlord property 10% straight line basis
- Short leasehold capital costs over a 5 year term being the length of the lease
- Fixtures and fittings 25% reducing balance basis
- Plant & machinery being 3 year straight line basis and 20% reducing balance basis dependent on the asset.
- Motor vehicles 25% reducing balance basis.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are credited or charged to the income statement.

Impairment of fixed assets
At each balance sheet date, the Company reverses, the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately.

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.


Smart Display & Exhibitions Ltd (Registered number: 09695715)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Grants received in relation to furlough are intended to cover cost and are therefore recognised in the profit and loss in the same period in which the related expense was incurred

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 3,913 143,244 147,157
Additions - 90,074 90,074
At 31 July 2023 3,913 233,318 237,231
DEPRECIATION
At 1 August 2022 3,130 87,190 90,320
Charge for year 783 38,957 39,740
At 31 July 2023 3,913 126,147 130,060
NET BOOK VALUE
At 31 July 2023 - 107,171 107,171
At 31 July 2022 783 56,054 56,837

Smart Display & Exhibitions Ltd (Registered number: 09695715)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 22,600
DEPRECIATION
At 1 August 2022 21,864
Charge for year 2,511
At 31 July 2023 24,375
NET BOOK VALUE
At 31 July 2023 (1,775 )
At 31 July 2022 736

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 161,446 246,131
Other debtors 103,843 100,032
265,289 346,163

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 36,842 39,912
Hire purchase contracts (see note 8) 11,288 11,749
Trade creditors 87,813 149,093
Taxation and social security 91,118 151,640
Other creditors 237,506 208,838
464,567 561,232

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 67,544 101,316
Hire purchase contracts (see note 8) 4,273 8,110
71,817 109,426

Smart Display & Exhibitions Ltd (Registered number: 09695715)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.7.23 31.7.22
£    £   
Gross obligations repayable:
Within one year 11,880 12,573
Between one and five years 4,461 8,311
16,341 20,884

Finance charges repayable:
Within one year 592 824
Between one and five years 188 201
780 1,025

Net obligations repayable:
Within one year 11,288 11,749
Between one and five years 4,273 8,110
15,561 19,859

Non-cancellable operating leases
31.7.23 31.7.22
£    £   
Within one year - 384
Between one and five years - 99,722
- 100,106

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
C P Stewart
Balance outstanding at start of year 46,943 43,787
Amounts advanced - 3,156
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,943 46,943