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
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
Smart-Cover Direct Limited
Statement of financial position
as at 31 May 2023
Intangible assets
1,294,959
1,269,473
Tangible assets
2,243
1,172
Debtors
1,007,450
1,217,571
Cash at bank and in hand
204,854
213,213
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
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
Smart-Cover Direct Limited
Notes to the Accounts
for the year ended 31 May 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (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.
Expenditure on research and development is written off in the year in which it is incurred.
Smart-Cover Direct Limited
Notes to the Accounts
for the year ended 31 May 2023
4
Intangible fixed assets
Other
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
At 31 May 2023
180
8,966
9,146
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
At 31 May 2023
-
2,243
2,243
At 31 May 2022
-
1,172
1,172
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
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
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
Amounts owed to group undertakings and other participating interests
790,802
-
Other creditors
33,159
1,124,150
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).