2023-02-012024-01-312024-01-31false01879481DAVE SMART CONTRACTS 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DAVE SMART CONTRACTS LIMITED

Registered Number
01879481
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

DAVE SMART CONTRACTS LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

D J V SMART
M G SMART

Company Secretary

M G SMART

Registered Address

'Tanglewood'
18 Willow Avenue
High Wycombe
HP12 4QU

Registered Number

01879481 (England and Wales)
DAVE SMART CONTRACTS LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets39,30410,256
9,30410,256
Current assets
Debtors42,5651,680
Cash at bank and on hand36,69346,836
39,25848,516
Creditors amounts falling due within one year5(6,419)(10,114)
Net current assets (liabilities)32,83938,402
Total assets less current liabilities42,14348,658
Net assets42,14348,658
Capital and reserves
Called up share capital22
Profit and loss account42,14148,656
Shareholders' funds42,14348,658
The financial statements were approved and authorised for issue by the Board of Directors on 21 July 2024, and are signed on its behalf by:
D J V SMART
Director
Registered Company No. 01879481
DAVE SMART CONTRACTS LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 February 237,53525,51533,050
Additions2,150-2,150
At 31 January 249,68525,51535,200
Depreciation and impairment
At 01 February 235,35217,44222,794
Charge for year1,0842,0183,102
At 31 January 246,43619,46025,896
Net book value
At 31 January 243,2496,0559,304
At 31 January 232,1838,07310,256
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,5651,680
Total2,5651,680
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-64
Taxation and social security3,2635,901
Other creditors2,1053,099
Accrued liabilities and deferred income1,0511,050
Total6,41910,114