0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 30,000 30,000 xbrli:pure xbrli:shares iso4217:GBP SC333608 2022-12-01 2023-11-30 SC333608 2023-11-30 SC333608 2022-11-30 SC333608 2021-12-01 2022-11-30 SC333608 2022-11-30 SC333608 2021-11-30 SC333608 core:NetGoodwill 2022-12-01 2023-11-30 SC333608 core:MotorVehicles 2022-12-01 2023-11-30 SC333608 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 SC333608 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 SC333608 bus:Director2 2022-12-01 2023-11-30 SC333608 core:NetGoodwill 2023-11-30 SC333608 core:MotorVehicles 2022-11-30 SC333608 core:MotorVehicles 2023-11-30 SC333608 core:WithinOneYear 2023-11-30 SC333608 core:WithinOneYear 2022-11-30 SC333608 core:AfterOneYear 2023-11-30 SC333608 core:AfterOneYear 2022-11-30 SC333608 core:UKTax 2022-12-01 2023-11-30 SC333608 core:UKTax 2021-12-01 2022-11-30 SC333608 core:ShareCapital 2023-11-30 SC333608 core:ShareCapital 2022-11-30 SC333608 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC333608 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC333608 core:MotorVehicles 2022-11-30 SC333608 bus:SmallEntities 2022-12-01 2023-11-30 SC333608 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC333608 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC333608 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC333608 bus:FullAccounts 2022-12-01 2023-11-30 SC333608 bus:OrdinaryShareClass1 2023-11-30 SC333608 bus:OrdinaryShareClass1 2022-11-30 SC333608 bus:OrdinaryShareClass2 2023-11-30 SC333608 bus:OrdinaryShareClass2 2022-11-30 SC333608 bus:AllOrdinaryShares 2023-11-30 SC333608 bus:AllOrdinaryShares 2022-11-30 SC333608 core:OfficeEquipment 2022-12-01 2023-11-30 SC333608 core:OfficeEquipment 2023-11-30 SC333608 core:OfficeEquipment 2022-11-30
COMPANY REGISTRATION NUMBER: SC333608
Smart Move Letting Management Ltd
Filleted Unaudited Financial Statements
30 November 2023
Smart Move Letting Management Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
1,725
2,271
Current assets
Debtors
7
8,046
4,373
Cash at bank and in hand
23,105
20,827
--------
--------
31,151
25,200
Creditors: amounts falling due within one year
8
23,424
16,630
--------
--------
Net current assets
7,727
8,570
-------
--------
Total assets less current liabilities
9,452
10,841
Creditors: amounts falling due after more than one year
9
8,951
10,403
Provisions
Deferred tax
327
431
-------
--------
Net assets
174
7
-------
--------
Smart Move Letting Management Ltd
Statement of Financial Position (continued)
30 November 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
10
4
4
Profit and loss account
170
3
----
----
Shareholders funds
174
7
----
----
These 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 statement of comprehensive income has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 August 2024 , and are signed on behalf of the board by:
Richard J. Thomson
Director
Company registration number: SC333608
Smart Move Letting Management Ltd
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Suite 14, Ladywell Business Centre, 94 Duke Street, Glasgow, G4 0UW.
2. Statement of compliance
These 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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover shown in the income statement represents amounts charged during the year.
Corporation and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and 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. Deferred tax is recognised in respect of all timing differences at the reporting date. 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.
Goodwill
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Motor Vehicles
-
15% reducing balance
Office Equipment
-
15% reducing balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tax on profit
Major components of tax expense
2023
2022
£
£
Current tax:
UK current tax expense
143
877
Deferred tax:
Origination and reversal of timing differences
( 104)
( 199)
----
----
Tax on profit
39
678
----
----
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is lower than (2022: lower than) the standard rate of corporation tax in the UK of 19 % (2022: 19 %).
2023
2022
£
£
Profit on ordinary activities before taxation
206
3,572
----
-------
Profit on ordinary activities by rate of tax
752
709
----
-------
5. Intangible assets
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
30,000
--------
Amortisation
At 1 December 2022 and 30 November 2023
30,000
--------
Carrying amount
At 30 November 2023
--------
At 30 November 2022
--------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
11,500
1,633
13,133
--------
-------
--------
Depreciation
At 1 December 2022
9,453
1,409
10,862
Charge for the year
512
34
546
--------
-------
--------
At 30 November 2023
9,965
1,443
11,408
--------
-------
--------
Carrying amount
At 30 November 2023
1,535
190
1,725
--------
-------
--------
At 30 November 2022
2,047
224
2,271
--------
-------
--------
7. Debtors
2023
2022
£
£
Trade debtors
2,086
1,434
Other debtors
5,960
2,939
-------
-------
8,046
4,373
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,416
1,416
Trade creditors
17,020
9,624
Corporation tax
143
877
Other creditors
4,845
4,713
--------
--------
23,424
16,630
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
8,951
10,403
-------
--------
Included within creditors: amounts falling due after more than one year is an amount of £3,286 (2022: £4,739) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
Ordinary A shares of £ 1 each
2
2
2
2
----
----
----
----
4
4
4
4
----
----
----
----
11. Transactions with directors
The company was under the control of the directors throughout the previous and current financial year. At the year end the directors were due to repay the company £3,585 (2022 - £638). This loan is interest free and will be repaid within nine months of the year end.