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Registered Number: 08408276
England and Wales

 

 

 

SMART SOHO LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
Directors William J Burnett
Martin Laking
Stuart McHarrie
Registered Number 08408276
Registered Office 55 Greek Street
London
W1D 3DT
Accountants Cocke Vellacott & Hill
Unit 28 City Business Centre
Lower Road
London
SE16 2XB
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 21,015    14,715 
21,015    14,715 
Current assets      
Stocks 4 108,000    114,000 
Debtors 5 325,139    263,546 
Cash at bank and in hand 26,040    (65,873)
459,179    311,673 
Creditors: amount falling due within one year 6 (439,170)   (324,346)
Net current assets 20,009    (12,673)
 
Total assets less current liabilities 41,024    2,042 
Provisions for liabilities 7 (1,521)   (1,344)
Net assets 39,503    698 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 39,403    598 
Shareholder's funds 39,503    698 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 08 November 2023 and were signed on its behalf by:


-------------------------------
Stuart McHarrie
Director
2
General Information
Smart Soho Ltd is a private company, limited by shares, registered in England and Wales, registration number 08408276, registration address 55 Greek Street, London, W1D 3DT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard (Section 1A) applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax.
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past years and it is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profits. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Work in Progress
Contracts partially completed at the year end are valued at the cost to date (including profit element and expenses) and are accounted for as Work in Progress.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 6 (2022 : 6).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 March 2022 33,997    33,997 
Additions 14,002    14,002 
Disposals  
At 28 February 2023 47,999    47,999 
Depreciation
At 01 March 2022 19,282    19,282 
Charge for year 7,702    7,702 
On disposals  
At 28 February 2023 26,984    26,984 
Net book values
Closing balance as at 28 February 2023 21,015    21,015 
Opening balance as at 01 March 2022 14,715    14,715 


4.

Stocks

2023
£
  2022
£
Work in Progress 108,000    114,000 
108,000    114,000 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 137,647    40,154 
Directors' Current Accounts 130,813    166,713 
268,460    206,867 

5.

Debtors: amounts falling due after one year

2023
£
  2022
£
Other Debtors 56,679    56,679 
56,679    56,679 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 64,544    31,601 
Bank Loans & Overdrafts (Secured) 172,724   
Bank Loans & Overdrafts   116,548 
Corporation Tax 142,783    137,211 
PAYE & Social Security 4,915    10,773 
Accrued Expenses 12,099    4,000 
Other Creditors 2,711   
Wages & Salaries Control Account   (381)
VAT 39,394    24,594 
439,170    324,346 

7.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions 1,521    1,344 
1,521    1,344 

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

9.

Advances and Credits



Directors
Loans were made to the directors during the year. There is no provision for interest and full repayment is anticipated. In accordance with FRS102 the total amount of the loans is disclosed.

Current year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Directors166,713 
016671300000
Previous year (2022)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Directors167,713 
016771300000
3