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Company Registration No. 08493961 (England and Wales)
Smart-Cover Direct Limited Unaudited accounts for the year ended 31 May 2023
Smart-Cover Direct Limited Unaudited accounts Contents
Page
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Smart-Cover Direct Limited Company Information for the year ended 31 May 2023
Directors
Mohammed Niraz Buhari Kumar Chetan Mankar
Company Number
08493961 (England and Wales)
Registered Office
ASHLEY COURT 32 MAIN STREET ASHLEY MARKET HARBOROUGH LEICESTERSHIRE LE16 8HF UNITED KINGDOM
Accountants
Master Accounting Limited The Stables, Ashley Court 32 Main Street, Ashley Market Harborough Leicestershire LE16 8HF
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Smart-Cover Direct Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,294,959 
1,269,473 
Tangible assets
2,243 
1,172 
1,297,202 
1,270,645 
Current assets
Debtors
1,007,450 
1,217,571 
Cash at bank and in hand
204,854 
213,213 
1,212,304 
1,430,784 
Creditors: amounts falling due within one year
(249,738)
(188,123)
Net current assets
962,566 
1,242,661 
Total assets less current liabilities
2,259,768 
2,513,306 
Creditors: amounts falling due after more than one year
(859,255)
(1,165,326)
Net assets
1,400,513 
1,347,980 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
1,294,959 
1,269,473 
Profit and loss account
105,454 
78,407 
Shareholders' funds
1,400,513 
1,347,980 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by
Mohammed Niraz Buhari Director Company Registration No. 08493961
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Smart-Cover Direct Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Smart-Cover Direct Limited is a private company, limited by shares, registered in England and Wales, registration number 08493961. The registered office is ASHLEY COURT 32 MAIN STREET, ASHLEY, MARKET HARBOROUGH, LEICESTERSHIRE, LE16 8HF, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% - straight line
Computer equipment
33% - straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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Smart-Cover Direct Limited Notes to the Accounts for the year ended 31 May 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 June 2022
1,269,473 
Revaluations
25,486 
At 31 May 2023
1,294,959 
Amortisation
At 1 June 2022
- 
At 31 May 2023
- 
Net book value
At 31 May 2023
1,294,959 
At 31 May 2022
1,269,473 
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2022
180 
6,846 
7,026 
Additions
- 
2,120 
2,120 
At 31 May 2023
180 
8,966 
9,146 
Depreciation
At 1 June 2022
180 
5,674 
5,854 
Charge for the year
- 
1,049 
1,049 
At 31 May 2023
180 
6,723 
6,903 
Net book value
At 31 May 2023
- 
2,243 
2,243 
At 31 May 2022
- 
1,172 
1,172 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
612,489 
873,789 
Amounts due from group undertakings etc.
264,527 
- 
Other debtors
130,434 
343,782 
1,007,450 
1,217,571 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
26,010 
22,481 
Trade creditors
88,438 
88,438 
Taxes and social security
104,007 
54,415 
Other creditors
31,283 
22,789 
249,738 
188,123 
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Smart-Cover Direct Limited Notes to the Accounts for the year ended 31 May 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
35,294 
41,176 
Amounts owed to group undertakings and other participating interests
790,802 
- 
Other creditors
33,159 
1,124,150 
859,255 
1,165,326 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 16 (2022: 24).
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