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REGISTERED NUMBER: 12431630 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SMAXTEC LIMITED

SMAXTEC LIMITED (REGISTERED NUMBER: 12431630)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMAXTEC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: C P Howarth





REGISTERED OFFICE: 10 Warren House
Deepdale Business Park
Bakewell
Derbyshire
DE45 1GT





REGISTERED NUMBER: 12431630 (England and Wales)





ACCOUNTANTS: Haines Watts
Advantage
87 Castle Street
Reading
Berkshire
RG1 7SN

SMAXTEC LIMITED (REGISTERED NUMBER: 12431630)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 27,102 21,704

CURRENT ASSETS
Stocks 187,667 145,532
Debtors 5 374,234 284,184
Cash at bank 101,027 54,845
662,928 484,561
CREDITORS
Amounts falling due within one year 6 2,393,656 1,354,982
NET CURRENT LIABILITIES (1,730,728 ) (870,421 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,703,626

)

(848,717

)

CREDITORS
Amounts falling due after more than one
year

7

604,313

590,292
NET LIABILITIES (2,307,939 ) (1,439,009 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,308,039 ) (1,439,109 )
SHAREHOLDERS' FUNDS (2,307,939 ) (1,439,009 )

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.

SMAXTEC LIMITED (REGISTERED NUMBER: 12431630)

BALANCE SHEET - continued
31 DECEMBER 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 and authorised for issue by the director and authorised for issue on 1 October 2024 and were signed by:





C P Howarth - Director


SMAXTEC LIMITED (REGISTERED NUMBER: 12431630)

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


1. STATUTORY INFORMATION

Smaxtec Limited 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
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.

At the balance sheet date the company had net liabilities of £2,307,939. The ability of the company to continue trading is dependant upon the continued support of the companys creditors. The director is of the opinion that this support will continue for the foreseeable future and so considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not contain any adjustments that would be required if this support were to be withdrawn.

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 machinery25% on cost
Furniture and fittings25% on cost
Motor vehicles25% on cost
Computer equipment25% 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.


SMAXTEC LIMITED (REGISTERED NUMBER: 12431630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 11 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2023 33,915
Additions 16,405
At 31 December 2023 50,320
DEPRECIATION
At 1 January 2023 12,211
Charge for year 11,007
At 31 December 2023 23,218
NET BOOK VALUE
At 31 December 2023 27,102
At 31 December 2022 21,704

SMAXTEC LIMITED (REGISTERED NUMBER: 12431630)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 355,327 269,562
Other debtors 18,907 14,622
374,234 284,184

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 1,879,354 1,050,871
Amounts owed to group undertakings 437,028 232,528
Taxation and social security 48,309 49,508
Other creditors 28,965 22,075
2,393,656 1,354,982

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Other creditors 604,313 590,292

8. 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:

2023 2022
£ £
C P Howarth
Balance outstanding at start of year 1,194 -
Amounts advanced 1,724 1,194
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,918 1,194

SMAXTEC LIMITED (REGISTERED NUMBER: 12431630)

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


9. RELATED PARTY DISCLOSURES

smaXtec Limited is wholly owned by smaXtec animal care GmbH.

During the period smaXtec Limited issued invoices totalling £6,108 (2022 - £445) to smaXtec animal care GmbH.

During the period smaXtec animal care GmbH issued invoices totalling £831,770 (2022 - £526,142) to smaXtec Limited.

During the period smaXtec animal care GmbH paid expenses on behalf of smaXtec Limited totalling £145,332 (2022 - £102,775).

During the period smaXtec animal care GmbH loaned €NIL (2022 - €275,000) to smaXtec Limited plus accrued interest of €nil (2022 - €nil).

The balance due to smaXtec animal care GmbH as at 31 December 2023 was £2,893,244.09 (2022 - £1,843,137.26).

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is smaXtec animal care GmbH.