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REGISTERED NUMBER: 04769449 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Officesmart South West Limited

Officesmart South West Limited (Registered number: 04769449)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Officesmart South West Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B Wilkinson
E P Barry





SECRETARY: Mrs G C Barry





REGISTERED OFFICE: Unit 1, Carn Brea Business Park
Wilson Way
REDRUTH
Cornwall
TR15 3RR





REGISTERED NUMBER: 04769449 (England and Wales)





ACCOUNTANTS: Colin Truscott Accountancy Limited
9 Heron Close
Tresillian
Cornwall
TR2 4BH

Officesmart South West Limited (Registered number: 04769449)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,461 21,479
14,461 21,479

CURRENT ASSETS
Stocks 70,593 63,593
Debtors 6 126,453 161,804
Cash at bank and in hand 39,495 36,742
236,541 262,139
CREDITORS
Amounts falling due within one year 7 219,049 248,009
NET CURRENT ASSETS 17,492 14,130
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,953

35,609

PROVISIONS FOR LIABILITIES 2,761 1,652
NET ASSETS 29,192 33,957

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 28,192 32,957
29,192 33,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Officesmart South West Limited (Registered number: 04769449)

Balance Sheet - continued
31 March 2024


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:




B Wilkinson - Director



E P Barry - Director


Officesmart South West Limited (Registered number: 04769449)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Officesmart South West 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when the amount of revenue, stage of completion and costs incurred can be measured reliably.Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 reducing balance and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.


Officesmart South West Limited (Registered number: 04769449)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Officesmart South West Limited (Registered number: 04769449)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 36,099 200,482 236,581
Disposals - (51,542 ) (51,542 )
At 31 March 2024 36,099 148,940 185,039
DEPRECIATION
At 1 April 2023 36,099 179,003 215,102
Charge for year - 4,677 4,677
Eliminated on disposal - (49,201 ) (49,201 )
At 31 March 2024 36,099 134,479 170,578
NET BOOK VALUE
At 31 March 2024 - 14,461 14,461
At 31 March 2023 - 21,479 21,479

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 115,087 120,477
Other debtors 10,372 40,372
Prepayments 994 955
126,453 161,804

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 82,721 87,857
Tax 16,266 1,623
Social security and other taxes 3,358 2,948
VAT 27,563 23,641
Other creditors 43,540 45,251
Directors' current accounts 42,814 83,832
Accruals and deferred income 2,787 2,857
219,049 248,009

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Smart Group South West Limited.