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REGISTERED NUMBER: 05151355 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

SMS Abacus & Co Ltd

SMS Abacus & Co Ltd (Registered number: 05151355)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMS Abacus & Co Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTORS: K F Shahabuddin
K Shahabuddin





SECRETARY: K F Shahabuddin





REGISTERED OFFICE: 1146 High Road
London
N20 0RA





REGISTERED NUMBER: 05151355 (England and Wales)






SMS Abacus & Co Ltd (Registered number: 05151355)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 96,451 3,747

CURRENT ASSETS
Stocks 80,000 20,000
Debtors 5 79,976 113,263
Cash at bank 414,304 474,782
574,280 608,045
CREDITORS
Amounts falling due within one year 6 48,536 85,637
NET CURRENT ASSETS 525,744 522,408
TOTAL ASSETS LESS CURRENT
LIABILITIES

622,195

526,155

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 622,095 526,055
SHAREHOLDERS' FUNDS 622,195 526,155

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

SMS Abacus & Co Ltd (Registered number: 05151355)

Balance Sheet - continued
30 September 2023


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 15 September 2024 and were signed on its behalf by:





K F Shahabuddin - Director


SMS Abacus & Co Ltd (Registered number: 05151355)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

SMS Abacus & Co Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery etc - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


SMS Abacus & Co Ltd (Registered number: 05151355)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 29,920
Additions 117,934
At 30 September 2023 147,854
DEPRECIATION
At 1 October 2022 26,173
Charge for year 25,230
At 30 September 2023 51,403
NET BOOK VALUE
At 30 September 2023 96,451
At 30 September 2022 3,747

SMS Abacus & Co Ltd (Registered number: 05151355)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 74,920 106,522
Other debtors 5,056 6,741
79,976 113,263

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 1,952 1,949
Taxation and social security 13,984 47,707
Other creditors 32,600 35,981
48,536 85,637