1 false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03092721 2022-09-01 2023-08-31 03092721 2023-08-31 03092721 2022-08-31 03092721 2021-09-01 2022-08-31 03092721 2022-08-31 03092721 core:PlantMachinery 2022-09-01 2023-08-31 03092721 core:FurnitureFittings 2022-09-01 2023-08-31 03092721 bus:Director1 2022-09-01 2023-08-31 03092721 core:WithinOneYear 2023-08-31 03092721 core:WithinOneYear 2022-08-31 03092721 core:ShareCapital 2023-08-31 03092721 core:ShareCapital 2022-08-31 03092721 core:RetainedEarningsAccumulatedLosses 2023-08-31 03092721 core:RetainedEarningsAccumulatedLosses 2022-08-31 03092721 bus:SmallEntities 2022-09-01 2023-08-31 03092721 bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 03092721 bus:AbridgedAccounts 2022-09-01 2023-08-31 03092721 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 03092721 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31
COMPANY REGISTRATION NUMBER: 03092721
Smart International Business Development Limited
Filleted Unaudited Abridged Financial Statements
31 August 2023
Smart International Business Development Limited
Abridged Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
484
40
Current assets
Debtors
45,936
30,431
Cash at bank and in hand
21
22,103
--------
--------
45,957
52,534
Creditors: amounts falling due within one year
10,605
13,468
--------
--------
Net current assets
35,352
39,066
--------
--------
Total assets less current liabilities
35,836
39,106
--------
--------
Net assets
35,836
39,106
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
35,736
39,006
--------
--------
Shareholder funds
35,836
39,106
--------
--------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 August 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 member has not required the company to obtain an audit of its abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Smart International Business Development Limited
Abridged Statement of Financial Position (continued)
31 August 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 29 February 2024 , and are signed on behalf of the board by:
Mr E A V Smart
Director
Company registration number: 03092721
Smart International Business Development Limited
Notes to the Abridged Financial Statements
Year ended 31 August 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 24 Queen Street, Knutsford, Cheshire, WA16 6HZ, England.
2. Statement of compliance
These abridged 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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents invoiced commissions earned, excluding value added tax. Turnover is recognised when the commissions become due and payable under the terms of the various agency agreements in place; this generally occurs when the respective principals have been paid themselves for the goods shipments to which the specific commissions relate.
Taxation
The taxation expense represents the current tax is that recognised on taxable profit for the current and past periods and is measured at the amounts of tax expected to be payable or recoverable using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost and are subsequently stated at cost less accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
33% straight line
Fixtures and fittings
-
15% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
£
Cost
At 1 September 2022
6,970
Additions
600
-------
At 31 August 2023
7,570
-------
Depreciation
At 1 September 2022
6,930
Charge for the year
156
-------
At 31 August 2023
7,086
-------
Carrying amount
At 31 August 2023
484
-------
At 31 August 2022
40
-------