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Registration number: 02496010

S.M.G. Management Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

S.M.G. Management Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

S.M.G. Management Services Limited

Company Information

Director

Mr S M Glynne

Company secretary

Mrs K S Rose

Registered office

1 Pank Avenue
New Barnet
Herts
EN5 1NF

Accountants

Aventus Partners Limited
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

S.M.G. Management Services Limited

(Registration number: 02496010)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,298

1,527

Current assets

 

Debtors

5

653

-

Cash at bank and in hand

 

20,938

43,310

 

21,591

43,310

Creditors: Amounts falling due within one year

6

(960)

(1,308)

Net current assets

 

20,631

42,002

Net assets

 

21,929

43,529

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

21,829

43,429

Shareholders' funds

 

21,929

43,529

For the financial year ending 31 December 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 and delivered 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

The financial statements were approved and authorised for issue by the director on 3 September 2024
 

.........................................
Mr S M Glynne
Director

   
     
 

S.M.G. Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
1 Pank Avenue
New Barnet
Herts
EN5 1NF
United Kingdom

These financial statements were authorised for issue by the director on 3 September 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.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

 

S.M.G. Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

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

Furniture and office equipment

15% on 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.

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.

 

S.M.G. Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

3

Staff numbers

The average monthly number of persons employed by the company (including the director) during the year, was 1 (2022: 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Cost or valuation

At 1 January 2023

18,732

At 31 December 2023

18,732

Depreciation

At 1 January 2023

17,205

Charge for the year

229

At 31 December 2023

17,434

Carrying amount

At 31 December 2023

1,298

At 31 December 2022

1,527

 

S.M.G. Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Debtors

2023
£

2022
£

Directors current account

653

-

653

-

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

960

960

Other creditors

-

307

Directors current account

-

41

960

1,308

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share capital of £1 each

100

100

100

100

       

8

Dividends

2023

2022

£

£

Interim dividend of £96.00 (2022 - £70.00) per ordinary share

9,600

7,000