Company registration number 05881987 (England and Wales)
SMART SOLUTIONS TEAM LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
SMART SOLUTIONS TEAM LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SMART SOLUTIONS TEAM LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,197
7,661
Current assets
Debtors
4
36,499
27,270
Cash at bank and in hand
23,980
44,491
60,479
71,761
Creditors: amounts falling due within one year
5
(49,571)
(46,373)
Net current assets
10,908
25,388
Total assets less current liabilities
19,105
33,049
Creditors: amounts falling due after more than one year
6
(8,667)
(12,667)
Provisions for liabilities
(1,557)
(1,456)
Net assets
8,881
18,926
Capital and reserves
Called up share capital
7
10,000
20,000
Profit and loss reserves
(1,119)
(1,074)
Total equity
8,881
18,926

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SMART SOLUTIONS TEAM LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 5 April 2024
D Pagella
Director
Company registration number 05881987 (England and Wales)
SMART SOLUTIONS TEAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Smart Solutions Team Limited is a private company limited by shares incorporated in England and Wales. The registered office is 51 Madeira Avenue, Bromley, BR1 4AR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which has been chosen as the presentational currency of the entity. The functional currency of the entity is euro. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
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.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment
33.33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
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.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

SMART SOLUTIONS TEAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date to the extent that the director believes such an amount to be material. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Office equipment
£
Cost
At 1 January 2023
13,386
Additions
5,879
At 31 December 2023
19,265
Depreciation and impairment
At 1 January 2023
5,725
Depreciation charged in the year
5,343
At 31 December 2023
11,068
Carrying amount
At 31 December 2023
8,197
At 31 December 2022
7,661
SMART SOLUTIONS TEAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
34,455
23,485
Other debtors
2,044
3,785
36,499
27,270
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
4,000
4,000
Trade creditors
20,256
29,686
Corporation tax
4,281
3,592
Other taxation and social security
879
67
Accruals and deferred income
20,155
9,028
49,571
46,373
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
8,667
12,667

The bank loan is a government backed bounceback loan and is therefore unsecured on the assets of the company.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,000
20,000
10,000
20,000

On 31 October 2023 the company reduced its share capital under Section 643 of the Companies Act 2006 following the passing of a special resolution by the member. The share capital so reduced comprised ordinary shares of £1 each which had an aggregate nominal value of £10,000

SMART SOLUTIONS TEAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
8
Directors' transactions

Dividends totalling £13,300 (2022 - £25,900) were paid in the year in respect of shares held by the company's director.

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
D. Pagella
-
2,112
1,092
(3,204)
-
2,112
1,092
(3,204)
-
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