Smarter Retail Limited Filleted Accounts Cover
Smarter Retail Limited
Company No. 08185457
Information for Filing with The Registrar
31 December 2023
Smarter Retail Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the year under review was mail order retail, household items and personalisation.
Directors
The Directors who served at any time during the year were as follows:
A. Firth
K.E. Wright
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
A. Firth
Director
29 August 2024
Smarter Retail Limited Balance Sheet Registrar
at
31 December 2023
Company No.
08185457
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
10,39419,180
10,39419,180
Current assets
Stocks
5
49,79456,141
Debtors
6
152,150127,017
Cash at bank and in hand
25,33120,623
227,275203,781
Creditors: Amount falling due within one year
7
(48,470)
(41,612)
Net current assets
178,805162,169
Total assets less current liabilities
189,199181,349
Creditors: Amounts falling due after more than one year
8
(236,113)
(181,088)
Net (liabilities)/assets
(46,914)
261
Capital and reserves
Called up share capital
100100
Profit and loss account
10
(47,014)
161
Total equity
(46,914)
261
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 29 August 2024 and signed on its behalf by:
A. Firth
Director
29 August 2024
Smarter Retail Limited Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
Smarter Retail Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 08185457
Its registered office is:
Block 1
City West Office Park
Leeds
West Yorkshire
LS12 6FB
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
25% straight line
Furniture, fittings and equipment
30% reducing balance
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
34
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 January 2023
76,3928,15084,542
Additions
750-750
Disposals
(300)
(659)
(959)
At 31 December 2023
76,8427,49184,333
Depreciation
At 1 January 2023
60,0185,34465,362
Charge for the year
8,6418429,483
Disposals
(300)
(606)
(906)
At 31 December 2023
68,3595,58073,939
Net book values
At 31 December 2023
8,4831,91110,394
At 31 December 2022
16,374
2,806
19,180
5
Stocks
2023
2022
£
£
Finished goods
49,79456,141
49,79456,141
6
Debtors
2023
2022
£
£
Trade debtors
541763
Other debtors
149,479124,837
Prepayments and accrued income
2,1301,417
152,150127,017
7
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,91310,000
Trade creditors
17,22212,726
Taxes and social security
15,124
14,217
Other creditors
4,6064,603
Accruals and deferred income
60566
48,47041,612
8
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,16724,167
Other loans
221,946156,921
236,113181,088
9
Share Capital
95 Ordinary A Shares, and 5 Ordinary B Shares, allocated, called up and fully paid.
10
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
11
Guarantees and commitments
2023
2022
£
£
Pension commitments, included in above total
229231
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