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REGISTERED NUMBER: 06367245















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 July 2024

for

Smartmaster Trade Ltd

Smartmaster Trade Ltd (Registered number: 06367245)






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




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Smartmaster Trade Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTOR: R Dawes





SECRETARY: A F Keeves





REGISTERED OFFICE: Unit C3
Knights Park Industrial Estate
Knight Road
Rochester
Kent
ME2 2LS





REGISTERED NUMBER: 06367245





ACCOUNTANTS: I.B.C.
Suite 1, Unit C3
Knights Park Industrial Estate
Knight Road
Rochester
Kent
ME2 2LS

Smartmaster Trade Ltd (Registered number: 06367245)

Report of the Director
for the Year Ended 31 July 2024

The director presents his report with the financial statements of the company for the year ended 31 July 2024.

DIRECTOR
R Dawes held office during the whole of the period from 1 August 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





R Dawes - Director


5 September 2024

Smartmaster Trade Ltd (Registered number: 06367245)

Income Statement
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   

TURNOVER 537,907 476,779

Cost of sales 438,903 386,463
GROSS PROFIT 99,004 90,316

Administrative expenses 73,808 71,792
OPERATING PROFIT 4 25,196 18,524


Interest payable and similar expenses - 969
PROFIT BEFORE TAXATION 25,196 17,555

Tax on profit 5,408 4,342
PROFIT FOR THE FINANCIAL YEAR 19,788 13,213

Smartmaster Trade Ltd (Registered number: 06367245)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 18,974 25,298
Investments 6 63 63
19,037 25,361

CURRENT ASSETS
Stocks 25,475 26,000
Debtors 7 1,725 1,200
Cash at bank 114,712 72,514
141,912 99,714
CREDITORS
Amounts falling due within one year 8 62,614 36,708
NET CURRENT ASSETS 79,298 63,006
TOTAL ASSETS LESS CURRENT
LIABILITIES

98,335

88,367

CREDITORS
Amounts falling due after more than one
year

9

23,570

33,390
NET ASSETS 74,765 54,977

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 74,665 54,877
SHAREHOLDERS' FUNDS 74,765 54,977

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

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

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 5 September 2024 and were signed by:





R Dawes - Director


Smartmaster Trade Ltd (Registered number: 06367245)

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

1. STATUTORY INFORMATION

Smartmaster Trade Ltd is a private company, limited by shares , registered in Not specified/Other. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.7.24 31.7.23
£    £   
Depreciation - owned assets 6,324 8,366

Smartmaster Trade Ltd (Registered number: 06367245)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023
and 31 July 2024 27,169 5,000 31,500 220 63,889
DEPRECIATION
At 1 August 2023 26,230 4,320 7,825 216 38,591
Charge for year 235 169 5,919 1 6,324
At 31 July 2024 26,465 4,489 13,744 217 44,915
NET BOOK VALUE
At 31 July 2024 704 511 17,756 3 18,974
At 31 July 2023 939 680 23,675 4 25,298

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.7.24 31.7.23
£    £   
Formation Costs 63 63

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 1,725 1,200

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other loans (12,000 ) (12,000 )
Trade creditors 9,505 6,200
Tax 5,408 4,342
VAT 12,436 10,202
Directors' loan accounts 40,665 20,764
Accruals and deferred income 6,600 7,200
62,614 36,708

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans - 2-5 years 23,570 33,390