Silverfin false 31/05/2023 01/06/2022 31/05/2023 Jonathan Brian Smart 22/07/2020 Anne Elizabeth Smart 22/07/2020 William Brian Smart 22/07/2020 13 February 2024 The principal activity of the Company during the financial year was that of a holding company. 12761735 2023-05-31 12761735 bus:Director1 2023-05-31 12761735 bus:Director2 2023-05-31 12761735 bus:Director3 2023-05-31 12761735 2022-05-31 12761735 core:CurrentFinancialInstruments 2023-05-31 12761735 core:CurrentFinancialInstruments 2022-05-31 12761735 core:ShareCapital 2023-05-31 12761735 core:ShareCapital 2022-05-31 12761735 core:RetainedEarningsAccumulatedLosses 2023-05-31 12761735 core:RetainedEarningsAccumulatedLosses 2022-05-31 12761735 core:CostValuation 2022-05-31 12761735 core:CostValuation 2023-05-31 12761735 bus:OrdinaryShareClass1 2023-05-31 12761735 bus:OrdinaryShareClass2 2023-05-31 12761735 bus:OrdinaryShareClass3 2023-05-31 12761735 2022-06-01 2023-05-31 12761735 bus:FullAccounts 2022-06-01 2023-05-31 12761735 bus:SmallEntities 2022-06-01 2023-05-31 12761735 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 12761735 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 12761735 bus:Director1 2022-06-01 2023-05-31 12761735 bus:Director2 2022-06-01 2023-05-31 12761735 bus:Director3 2022-06-01 2023-05-31 12761735 2021-06-01 2022-05-31 12761735 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 12761735 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 12761735 bus:OrdinaryShareClass2 2022-06-01 2023-05-31 12761735 bus:OrdinaryShareClass2 2021-06-01 2022-05-31 12761735 bus:OrdinaryShareClass3 2022-06-01 2023-05-31 12761735 bus:OrdinaryShareClass3 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12761735 (England and Wales)

SMART IDEAS HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

SMART IDEAS HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

SMART IDEAS HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 May 2023
SMART IDEAS HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2023
Note 2023 2022
£ £
Restated - note 2
Fixed assets
Investments 4 200 200
200 200
Current assets
Debtors 5 9,897 0
Cash at bank and in hand 859,460 863,842
869,357 863,842
Creditors: amounts falling due within one year 6 ( 1,103) 0
Net current assets 868,254 863,842
Total assets less current liabilities 868,454 864,042
Net assets 868,454 864,042
Capital and reserves
Called-up share capital 7 200 200
Profit and loss account 868,254 863,842
Total shareholders' funds 868,454 864,042

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Smart Ideas Holdings Limited (registered number: 12761735) were approved and authorised for issue by the Director on 13 February 2024. They were signed on its behalf by:

William Brian Smart
Director
SMART IDEAS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
SMART IDEAS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Smart Ideas Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4-6 De Salis Drive, Hampton Lovett, Droitwich, WR9 0QE, Worcestershire, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year error

In the year ended 31/05/2022, the investment in Smart ideas was shown in the Directors loan account. The prior year accounts have been restated to show this amount separately as an investment. There was no impact on the profit or loss of the company because of this restatement.

In the year ended 31/05/2022, Dividends was recognised to have been paid to the directors. The prior year accounts have been restated to show that no dividends were paid as this was the case. There was no impact on the profit or loss of the company because of this restatement.

In the year ended 31/05/2022, the amount remaining in the Directors loan account has been moved to recognise that this was dividends paid, the prior year accounts have been restated to show this. There was no impact on the profit or loss of the company because of this restatement.

In the year ended 31/05/2022, an amount was showing as bank interest this has been moved to recognise that this should be offset against the loan to subsidiaries, the prior year accounts have been restated to show this. There was an impact of £200 to the profit and loss.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Prior year adjustment

During the period, the company invested in Smart Ideas Limited, however the initial investment cost was not reflected correctly. It has therefore been removed from Directors Loan account and into Investments.

In the period ended 31/05/2022, Dividends weren't recognised as having been paid to the directors. The prior year accounts have been restated to show that £336,000 of the dividend was paid out. There was no impact on the profit or loss of the company because of this restatement.

In the year ended 31/05/2022, the amount of dividends received has been updated to reflect the amount of dividends received from the trading company for the period. This was previously showing as £0

In the year ended 31/05/2022, an amount was showing as bank interest this has been moved to recognise that this should be offset against the loan to subsidiaries, the prior year accounts have been restated to show this. There was an impact of £200 to the profit and loss.

As previously reported Adjustment As restated
Year ended 31 May 2022 £ £ £
Investments 0 200 200
Other Debtors due within one year 200 (200) 0
Amounts owed to subsidiaries 1,669,643 (1,669,643) 0
Called-up share capital 0 200 200
Dividend received 0 1,200,242 1,200,242
Dividends paid 0 336,400 336,400

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 June 2022 200
At 31 May 2023 200
Carrying value at 31 May 2023 200
Carrying value at 31 May 2022 200

5. Debtors

2023 2022
£ £
Amounts owed by own subsidiaries 9,897 0

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 1,103 0

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
90 A Ordinary shares of £ 1.00 each 90 90
10 C Ordinary shares of £ 1.00 each 10 10
200 200

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2023 2022
£ £
Amounts owed by subsidaries 9,897 0

Transactions with the entity's directors

Dividends were voted of £309,898 during the financial year ended 31 May 2023