2023-07-012024-06-302024-06-30false13435806SMARTA GAS 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SMARTA GAS LTD

Registered Number
13435806
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

SMARTA GAS LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

SULLIVAN, Jamie
SULLIVAN, Victoria

Registered Address

2 Colchester Road
St. Osyth
Clacton-On-Sea
CO16 8HA

Registered Number

13435806 (England and Wales)
SMARTA GAS LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,4381,467
1,4381,467
Current assets
Stocks43,84910,500
Debtors16,36315,655
Cash at bank and on hand20,05650,429
40,26876,584
Creditors amounts falling due within one year5(37,578)(28,817)
Net current assets (liabilities)2,69047,767
Total assets less current liabilities4,12849,234
Provisions for liabilities6(273)-
Net assets3,85549,234
Capital and reserves
Called up share capital100-
Profit and loss account3,75549,234
Shareholders' funds3,85549,234
The financial statements were approved and authorised for issue by the Board of Directors on 21 August 2024, and are signed on its behalf by:
SULLIVAN, Jamie
Director
SULLIVAN, Victoria
Director

Registered Company No. 13435806
SMARTA GAS LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: 25% Reducing balance

Reducing balance (%)
Plant and machinery25
Office Equipment25
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 July 231,4683121,780
Additions450-450
At 30 June 241,9183122,230
Depreciation and impairment
At 01 July 2323380313
Charge for year42158479
At 30 June 24654138792
Net book value
At 30 June 241,2641741,438
At 30 June 231,2352321,467
4.Stocks

2024

2023

££
Other stocks3,84910,500
Total3,84910,500
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9,95511,293
Taxation and social security7,13310,542
Other creditors20,4906,982
Total37,57828,817
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)273-
Total273-