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REGISTERED NUMBER: 10036864 (England and Wales)


Financial Statements for the Year Ended 31 March 2023

for

S M Enterprise(Wales) Ltd

S M Enterprise(Wales) Ltd (Registered number: 10036864)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S M Enterprise(Wales) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr Mithlesh Sharma
Mrs Shally Sharma





REGISTERED OFFICE: 75 Pentrechwyth Road
Swansea
SA1 7AN





REGISTERED NUMBER: 10036864 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

S M Enterprise(Wales) Ltd (Registered number: 10036864)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 21,480 26,600
Property, plant and equipment 5 101,278 33,005
122,758 59,605

CURRENT ASSETS
Inventories 70,390 69,661
Debtors 6 8,648 1,800
Cash at bank and in hand 121,213 134,878
200,251 206,339
CREDITORS
Amounts falling due within one year 7 159,923 155,059
NET CURRENT ASSETS 40,328 51,280
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,086

110,885

CREDITORS
Amounts falling due after more than one
year

8

80,194

9,936
NET ASSETS 82,892 100,949

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 82,890 100,947
SHAREHOLDERS' FUNDS 82,892 100,949

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

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 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.

S M Enterprise(Wales) Ltd (Registered number: 10036864)

Statement of Financial Position - continued
31 March 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 Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





Mr Mithlesh Sharma - Director


S M Enterprise(Wales) Ltd (Registered number: 10036864)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

S M Enterprise(Wales) 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 20 ) .

S M Enterprise(Wales) Ltd (Registered number: 10036864)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 51,200
AMORTISATION
At 1 April 2022 24,600
Charge for year 5,120
At 31 March 2023 29,720
NET BOOK VALUE
At 31 March 2023 21,480
At 31 March 2022 26,600

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2022 50,410
Additions 79,527
At 31 March 2023 129,937
DEPRECIATION
At 1 April 2022 17,405
Charge for year 11,254
At 31 March 2023 28,659
NET BOOK VALUE
At 31 March 2023 101,278
At 31 March 2022 33,005

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 7,515 1,000
Other debtors 1,133 800
8,648 1,800

S M Enterprise(Wales) Ltd (Registered number: 10036864)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 125,929 95,073
Taxation and social security 11,445 11,109
Other creditors 22,549 48,877
159,923 155,059

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 9,936
Hire purchase contracts 80,194 -
80,194 9,936

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2 Ordinary £1 2 2

10. RELATED PARTY DISCLOSURES

During the year, the Company has paid rent of £6,938.82 in respect of use of business property owned by the directors at "75 Pentrechwyth Road, Swansea, SA1 7AN".