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REGISTERED NUMBER: 08829650 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SMART ELECTRONIC SOLUTIONS LTD

SMART ELECTRONIC SOLUTIONS LTD (REGISTERED NUMBER: 08829650)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

SMART ELECTRONIC SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: G P Hawkins





SECRETARY: T J Orchard





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 08829650 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

SMART ELECTRONIC SOLUTIONS LTD (REGISTERED NUMBER: 08829650)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,014 29,533

CURRENT ASSETS
Stocks 484,000 330,000
Debtors 5 919,441 439,384
Cash at bank 402,688 390,729
1,806,129 1,160,113
CREDITORS
Amounts falling due within one year 6 355,156 123,933
NET CURRENT ASSETS 1,450,973 1,036,180
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,489,987

1,065,713

CREDITORS
Amounts falling due after more than one
year

7

(22,450

)

(32,407

)

PROVISIONS FOR LIABILITIES (9,754 ) (7,383 )
NET ASSETS 1,457,783 1,025,923

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,457,583 1,025,723
SHAREHOLDERS' FUNDS 1,457,783 1,025,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 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 director and authorised for issue on 25 September 2024 and were signed by:



G P Hawkins - Director


SMART ELECTRONIC SOLUTIONS LTD (REGISTERED NUMBER: 08829650)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Smart Electronic Solutions 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements.

On the basis of this consideration, the directors are satisfied that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they consider that no material uncertainty exists. As a result, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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.

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 11 (2022 - 11 ) .

SMART ELECTRONIC SOLUTIONS LTD (REGISTERED NUMBER: 08829650)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 117,649 3,603 3,806 125,058
Additions 21,857 - 1,403 23,260
At 31 December 2023 139,506 3,603 5,209 148,318
DEPRECIATION
At 1 January 2023 90,852 2,471 2,202 95,525
Charge for year 12,164 283 1,332 13,779
At 31 December 2023 103,016 2,754 3,534 109,304
NET BOOK VALUE
At 31 December 2023 36,490 849 1,675 39,014
At 31 December 2022 26,797 1,132 1,604 29,533

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 802,348 146,757
Other debtors 6,216 5,716
Inter Company 110,877 283,149
Directors' current accounts - 3,762
919,441 439,384

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 9,957 9,702
Hire purchase contracts (see note 8) - 3,677
Trade creditors 99,564 42,203
Tax 160,696 54,813
Social security and other taxes 5,656 3,160
VAT 57,627 591
Other creditors 7,945 294
Biker Engineering Co Ltd 5,994 5,994
Directors' current accounts 4,219 -
Accrued expenses 3,498 3,499
355,156 123,933

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 10,213 9,957
Bank loans - 2-5 years 12,237 22,450
22,450 32,407

SMART ELECTRONIC SOLUTIONS LTD (REGISTERED NUMBER: 08829650)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Gross obligations repayable:
Within one year - 3,776

Finance charges repayable:
Within one year - 99

Net obligations repayable:
Within one year - 3,677

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 47,752 38,152

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
G P Hawkins
Balance outstanding at start of year 3,762 12,653
Amounts advanced - 9,684
Amounts repaid - (18,575 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,762

10. RELATED PARTY DISCLOSURES

As at the balance sheet date the director, Mr G Hawkins, owed the company £419 (2022 - £3,762). The loan is interest free and has no terms attached.

At the balance sheet date the company owed £5,994 (2022: £5,994) to Biker Engineering Co. Ltd, a company which is under the control of G Hawkins.

As at the balance sheet date the company was owed £110,877 (2022: £283,149) from LCM Property Limited, a company which is under the control of G Hawkins.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SMART ELECTRONIC SOLUTIONS LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Smart Electronic Solutions Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Smart Electronic Solutions Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Smart Electronic Solutions Ltd and state those matters that we have agreed to state to the director of Smart Electronic Solutions Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Smart Electronic Solutions Ltd and its director for our work or for this report.

It is your duty to ensure that Smart Electronic Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Smart Electronic Solutions Ltd. You consider that Smart Electronic Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Smart Electronic Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


25 September 2024