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Registered number: 06021448










SUPPLYSMART LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023



 
SUPPLYSMART LIMITED
 

COMPANY INFORMATION


Directors
P E Lebby 
P A Ballinger 




Company secretary
P E Lebby



Registered number
06021448



Registered office
Reading Bridge House
George Street

Reading

Berkshire

RG1 8LS




Accountants
James Cowper Kreston
Chartered Accountants

Reading Bridge House

George Street

Reading

Berkshire

RG1 8LS





 
SUPPLYSMART LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6


 
SUPPLYSMART LIMITED
REGISTERED NUMBER: 06021448

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
  
858,508
858,508

  
858,508
858,508

  

Creditors: amounts falling due within one year
  
(1,098)
(1,098)

Net current liabilities
  
 
 
(1,098)
 
 
(1,098)

Total assets less current liabilities
  
857,410
857,410

Creditors: amounts falling due after more than one year
  
(85)
(85)

  

Net assets
  
857,325
857,325


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
  
857,408
857,408

Profit and loss account
  
(85)
(85)

  
857,325
857,325


For the year ended 31 March 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
 
Page 1

 
SUPPLYSMART LIMITED
REGISTERED NUMBER: 06021448

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P E Lebby
P A Ballinger
Director
Director


Date: 25 October 2023
Date14 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SUPPLYSMART LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Supplysmart Limited is a private company limited by share capital and incorporated in England and Wales. The address of its registered office is Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

  
2.2

Cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

 
2.3

Valuation of investments

Investments in subsidiaries are stated at the directors' estimate of fair value, based either on a multiple of earnings or on a net asset value basis, as appropriate. Changes in value are recognised in the profit and loss account and subsequently transferred to the revaluation reserve.

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.6

Group accounts

The company has taken advantage of the exemption conferred by the Companies Act 2006 from the requirement to prepare group accounts on the grounds that the group qualifies because of its size. The accounts therefore present information about the company as an individual undertaking and not about the group. 

Page 3

 
SUPPLYSMART LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
SUPPLYSMART LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
858,508



At 31 March 2023

858,508






Net book value



At 31 March 2023
858,508



At 31 March 2022
858,508


Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Principal activity

Class of shares

Holding

Skala Recruitment Limited
Recruitment
Ordinary
100%
Onyxcol Limited
Recruitment
Ordinary
100%

The aggregate of the share capital and reserves as at 31 March 2023 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Skala Recruitment Limited
1,445,155
(141,049)

Onyxcol Limited
(86,882)
(5,147)

As stated in note 2 the investments in subsidiaries are stated at the directors' estimate of fair value.


5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
1,098
1,098

1,098
1,098


Page 5

 
SUPPLYSMART LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
85
85

85
85



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



200 (2022 - 2) Ordinary shares of £0.01 each
2
2



8.


Related party transactions

At the balance sheet date the company owed £1,098 (2022: £1,098) to Onyxcol Limited, a subsidiary company.
At the balance sheet date the company owed £85 (2022: £85) to Skala Recruitment Limited, a subsidiary company.

Page 6