0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 46,500 27,900 18,600 18,600 xbrli:pure xbrli:shares iso4217:GBP 08056562 2022-06-01 2023-05-31 08056562 2023-05-31 08056562 2022-05-31 08056562 2021-06-01 2022-05-31 08056562 2022-05-31 08056562 2021-05-31 08056562 bus:RegisteredOffice 2022-06-01 2023-05-31 08056562 bus:LeadAgentIfApplicable 2022-06-01 2023-05-31 08056562 bus:Director3 2022-06-01 2023-05-31 08056562 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 08056562 core:WithinOneYear 2023-05-31 08056562 core:WithinOneYear 2022-05-31 08056562 core:ShareCapital 2023-05-31 08056562 core:ShareCapital 2022-05-31 08056562 core:SharePremium 2023-05-31 08056562 core:SharePremium 2022-05-31 08056562 core:RetainedEarningsAccumulatedLosses 2023-05-31 08056562 core:RetainedEarningsAccumulatedLosses 2022-05-31 08056562 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-05-31 08056562 bus:SmallEntities 2022-06-01 2023-05-31 08056562 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 08056562 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 08056562 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 08056562 bus:FullAccounts 2022-06-01 2023-05-31 08056562 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-01 2023-05-31
COMPANY REGISTRATION NUMBER: 08056562
SME MARKETS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 May 2023
SME MARKETS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
SME MARKETS LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
Mr E R Riza
Registered office
Lynton House
7-12 Tavistock Square
London
WC1H 9BQ
Accountants
TC BSG Valentine Limited
Accountants
Lynton House
7-12 Tavistock Square
London
WC1H 9BQ
SME MARKETS LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
4
18,600
18,600
CURRENT ASSETS
Cash at bank and in hand
184
184
CREDITORS: amounts falling due within one year
5
( 10,962)
( 10,962)
--------
--------
NET CURRENT LIABILITIES
( 10,778)
( 10,778)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
7,822
7,822
-------
-------
NET ASSETS
7,822
7,822
-------
-------
CAPITAL AND RESERVES
Called up share capital
2,000
2,000
Share premium account
33,000
33,000
Profit and loss account
( 27,178)
( 27,178)
--------
--------
SHAREHOLDERS FUNDS
7,822
7,822
--------
--------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 February 2024 , and are signed on behalf of the board by:
Mr E R Riza
Director
Company registration number: 08056562
SME MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Intangible assets
Development costs
£
Cost
At 1 June 2022 and 31 May 2023
46,500
--------
Amortisation
At 1 June 2022 and 31 May 2023
27,900
--------
Carrying amount
At 31 May 2023
18,600
--------
At 31 May 2022
18,600
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
10,962
10,962
--------
--------