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Registration number: 14594760

SM Grid Consulting Ltd

Unaudited Filleted Financial Statements

for the Period from 16 January 2023 to 31 January 2024

FRS 102 1A Filleted

 

SM Grid Consulting Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

SM Grid Consulting Ltd

Company Information

Directors

Mr M J Barrington

Mr S P Barrington

Registered office

Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

Accountants

Kennedy Legg
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
SM Grid Consulting Ltd
for the Period Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SM Grid Consulting Ltd for the period ended 31 January 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at:
https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of SM Grid Consulting Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SM Grid Consulting Ltd and state those matters that we have agreed to state to the Board of Directors of SM Grid Consulting Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at:
http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/factsheet-163-
audit-exempt-companies.html.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SM Grid Consulting Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SM Grid Consulting Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SM Grid Consulting Ltd. You consider that SM Grid Consulting Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of SM Grid Consulting Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Kennedy Legg
 
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

6 June 2024

 

SM Grid Consulting Ltd

(Registration number: 14594760)
Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

20,989

Current assets

 

Debtors

5

16,895

Cash at bank and in hand

 

33,651

 

50,546

Creditors: Amounts falling due within one year

6

(34,348)

Net current assets

 

16,198

Total assets less current liabilities

 

37,187

Provisions for liabilities

(5,123)

Net assets

 

32,064

Capital and reserves

 

Called up share capital

7

100

Retained earnings

31,964

Shareholders' funds

 

32,064

For the financial period ending 31 January 2024 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

SM Grid Consulting Ltd

(Registration number: 14594760)
Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 6 June 2024 and signed on its behalf by:
 

.........................................
Mr M J Barrington
Director

 

SM Grid Consulting Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

These financial statements were authorised for issue by the Board on 6 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

SM Grid Consulting Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2023 to 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Office equipment

20% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

SM Grid Consulting Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2023 to 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

 

SM Grid Consulting Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2023 to 31 January 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

1,076

2,020

24,683

27,779

At 31 January 2024

1,076

2,020

24,683

27,779

Depreciation

Charge for the period

215

404

6,171

6,790

At 31 January 2024

215

404

6,171

6,790

Carrying amount

At 31 January 2024

861

1,616

18,512

20,989

5

Debtors

Current

2024
£

Trade debtors

15,624

Prepayments

1,271

 

16,895

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

27,418

Accruals and deferred income

2,620

Other creditors

4,310

34,348

 

SM Grid Consulting Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2023 to 31 January 2024

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

ordinary share of £1 each

100

100

   

8

Related party transactions

Directors' remuneration

The directors' remuneration for the period was as follows:

2024
£

Remuneration

20,950