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REGISTERED NUMBER: SC716297 (Scotland)




















Mr Smith Creative Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Mr Smith Creative Ltd (Registered number: SC716297)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mr Smith Creative Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A J Smith
A Smith





REGISTERED OFFICE: The Lighthouse
Heugh Road
North Berwick
East Lothian
EH39 5PX





REGISTERED NUMBER: SC716297 (Scotland)





ACCOUNTANTS: Whitelaw Wells
The Lighthouse
Heugh Road
North Berwick
EH39 5PX

Mr Smith Creative Ltd (Registered number: SC716297)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,109 8,146

CURRENT ASSETS
Debtors 5 8,775 8,324
Cash at bank 11,004 14,525
19,779 22,849
CREDITORS
Amounts falling due within one year 6 11,466 21,431
NET CURRENT ASSETS 8,313 1,418
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,422

9,564

PROVISIONS FOR LIABILITIES 1,161 1,548
NET ASSETS 13,261 8,016

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 13,061 7,816
13,261 8,016

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mr Smith Creative Ltd (Registered number: SC716297)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





A J Smith - Director


Mr Smith Creative Ltd (Registered number: SC716297)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Mr Smith Creative Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the fair value of specialist design services provided.

Revenue from the services is recognised when the service has been provided and all obligations to the customers under the service agreement have been fulfilled.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Mr Smith Creative Ltd (Registered number: SC716297)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provsions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Going concern
The accounts have been prepared on a going concern principle which assumes that the company will continue to trade in the foreseeable future. The directors are confident that the company will continue to trade for at least 12 months from the signing of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 10,182
DEPRECIATION
At 1 April 2023 2,036
Charge for year 2,037
At 31 March 2024 4,073
NET BOOK VALUE
At 31 March 2024 6,109
At 31 March 2023 8,146

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,775 8,324

Mr Smith Creative Ltd (Registered number: SC716297)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 90 -
Taxation and social security 8,244 7,207
Other creditors 3,132 14,224
11,466 21,431

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 8,334 -
Between one and five years 4,862 -
13,196 -