2022-04-012023-03-312023-03-31false07991753Smart Gas Solutions 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Smart Gas Solutions Ltd

Registered Number
07991753
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Smart Gas Solutions Ltd
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

Adrian Paul

Registered Address

26 Shetland
Buckingham
MK18 1WG

Registered Number

07991753 (England and Wales)
Smart Gas Solutions Ltd
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets528,35031,500
Tangible assets6247290
28,59731,790
Current assets
Debtors73,2812,628
Cash at bank and on hand20,10021,328
23,38123,956
Creditors amounts falling due within one year8(12,292)(13,623)
Net current assets (liabilities)11,08910,333
Total assets less current liabilities39,68642,123
Net assets39,68642,123
Capital and reserves
Called up share capital100100
Profit and loss account39,58642,023
Shareholders' funds39,68642,123
The financial statements were approved and authorised for issue by the Director on 6 November 2023, and are signed on its behalf by:
Adrian Paul
Director
Registered Company No. 07991753
Smart Gas Solutions Ltd
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery15-
Vehicles-5
Office Equipment-6.67
Intangible assets policy
Intangible fixed assets are stated at cost or valuation less amortisation. Goodwill is regularly reviewed for diminution.
Revenue recognition policy
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.
Deferred tax policy
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.
Foreign currency translation and operations policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year22
5.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2231,50031,500
At 31 March 2331,50031,500
Amortisation and impairment
Charge for year3,1503,150
At 31 March 233,1503,150
Net book value
At 31 March 2328,35028,350
At 31 March 2231,50031,500
6.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 224,27721,9951,67927,951
At 31 March 234,27721,9951,67927,951
Depreciation and impairment
At 01 April 223,98721,9951,67927,661
Charge for year43--43
At 31 March 234,03021,9951,67927,704
Net book value
At 31 March 23247--247
At 31 March 22290--290
7.Debtors

2023

2022

££
Trade debtors / trade receivables2,4082,327
Other debtors873301
Total3,2812,628
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.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables4,6413,491
Taxation and social security5,8519,464
Other creditors1,385253
Accrued liabilities and deferred income415415
Total12,29213,623
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.