Smart Access Solutions Ltd |
Registered Number:08938176 |
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2023
Smart Access Solutions Ltd
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
Smart Access Solutions Ltd
Statement of Financial Position
2022
2023
Trade and other receivables |
117
10,538
2
9,892
Cash and cash equivalents |
21,203
31,741
10,009
Trade and other payables: amounts falling due within one |
year |
(7,325)
(19,730)
4
2,684
12,011
Net current assets
Total assets less current liabilities |
12,011
2,684
12,011
Net assets
2,684
1
1
12,010
2,683
12,011
2,684
Shareholders' funds
For the year ended 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 of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr Paul Donald Chater Director |
Mr Steven Michael Smart Director |
These financial statements were approved and authorised for issue by the Board on 27 November 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2023
Smart Access Solutions Ltd
Notes to the Financial Statements
Statutory Information
Smart Access Solutions Ltd is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 08938176. |
Unit 8 JBJ Buisness Park Northampton Road
Blisworth
Northampton
England
NN7 3DW
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
2. Trade and other receivables |
2022
2023
10,538
117
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For the year ended 31 March 2023
Smart Access Solutions Ltd
Notes to the Financial Statements Continued
3. Financial instruments at fair value |
The company has elected to apply the provisions of Setion 11 "Basic Financial Instruments" and Section 12 "Other |
Financial Instruments Issues" of FRS 102 to all of its financial instruments. Financial instruments are recognised in |
the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a |
legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to |
realise the asset and settle the liability simultaneously. |
Basic finncial assets, which include debtors and cash and bank balances, are initially measured at transaction price |
including transaction costs and are subsequently carried at amortised cost using the effective interest method unless |
the arrangement constitues and financing transaction, where the transaction is measured at present value of the |
future receipts discounted at a market rate of interest. |
Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements |
entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company |
after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares |
that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing |
transaction, where the debt instrument is measured at the present value of future payments discounted at a market |
rate of interest. |
Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
4. Trade and other payables: amounts falling due within one year |
2022
2023
13,762
3,826
Taxation and social security |
3,241
813
Accruals and deferred income |
550
580
2,177
2,106
19,730
7,325
5. Related party transactions |
At the balance sheet date, the company owed another company owned by the directors, £2,177 (2022 £2,106). The |
loan is interest free and repayable on demand. |
6. Average number of persons employed |
During the year the average number of employees was 2 (2022 : 2)
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