1 March 2023 false Taxfiler 2024.6 09981623business:PrivateLimitedCompanyLtd2023-03-012024-02-29 099816232023-02-28 099816232023-03-012024-02-29 09981623business:AuditExemptWithAccountantsReport2023-03-012024-02-29 09981623business:FilletedAccounts2023-03-012024-02-29 099816232024-02-29 09981623business:Director12023-03-012024-02-29 09981623business:RegisteredOffice2023-03-012024-02-29 099816232023-02-28 09981623core:WithinOneYear2024-02-29 09981623core:WithinOneYear2023-02-28 09981623core:ShareCapitalcore:PreviouslyStatedAmount2024-02-29 09981623core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 09981623core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-29 09981623core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 09981623core:PreviouslyStatedAmount2024-02-29 09981623core:PreviouslyStatedAmount2023-02-28 09981623business:SmallEntities2023-03-012024-02-29 09981623countries:EnglandWales2023-03-012024-02-29 09981623core:PlantMachinery2023-03-012024-02-29 09981623core:MotorVehicles2023-03-012024-02-29 09981623core:ComputerEquipment2023-03-012024-02-29 09981623core:PlantMachinery2023-02-28 09981623core:MotorVehicles2023-02-28 09981623core:ComputerEquipment2023-02-28 09981623core:PlantMachinery2024-02-29 09981623core:MotorVehicles2024-02-29 09981623core:ComputerEquipment2024-02-29 09981623core:RevaluationsIncreaseDecreaseInInvestments2024-02-29 09981623core:WithinOneYear2023-03-012024-02-29 09981623business:OrdinaryShareClass12023-03-012024-02-29 09981623business:OrdinaryShareClass12022-03-012023-02-28 099816232022-03-012023-02-28 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 09981623 (England and Wales)
SmarterQueue Ltd Unaudited accounts for the year ended 29 February 2024
SmarterQueue Ltd Unaudited accounts Contents
Page
- 2 -
SmarterQueue Ltd Company Information for the year ended 29 February 2024
Director
Claude Schneider
Company Number
09981623 (England and Wales)
Registered Office
27 Old Gloucester Street London WC1N 3AX
Accountants
Barnes & Scott 86-90 Paul Street Shoreditch London EC2A 4NE
- 3 -
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of SmarterQueue Ltd for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SmarterQueue Ltd for the year ended 29 February 2024 as set out on pages 5 - 8 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 at icaew.com/membershandbook.
This report is made solely to the Board of Directors of SmarterQueue Ltd, as a body, in accordance with the terms of our engagement letter dated 3 September 2019. Our work has been undertaken solely to prepare for your approval the accounts of SmarterQueue Ltd and state those matters that we have agreed to state to the Board of Directors of SmarterQueue Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SmarterQueue Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SmarterQueue Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SmarterQueue Ltd. You consider that SmarterQueue 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 accounts of SmarterQueue 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 accounts.
Barnes & Scott Chartered Accountants 86-90 Paul Street Shoreditch London EC2A 4NE 15 November 2024
- 4 -
SmarterQueue Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
55,773 
60,481 
Investments
80,425 
75,837 
136,198 
136,318 
Current assets
Debtors
18,279 
30,349 
Cash at bank and in hand
956,080 
888,551 
974,359 
918,900 
Creditors: amounts falling due within one year
(81,682)
(72,347)
Net current assets
892,677 
846,553 
Total assets less current liabilities
1,028,875 
982,871 
Provisions for liabilities
Deferred tax
(12,270)
(10,433)
Net assets
1,016,605 
972,438 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,016,604 
972,437 
Shareholders' funds
1,016,605 
972,438 
For the year ending 29 February 2024 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 November 2024 and were signed on its behalf by
Claude Schneider Director Company Registration No. 09981623
- 5 -
SmarterQueue Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
SmarterQueue Ltd is a private company, limited by shares, registered in England and Wales, registration number 09981623. The registered office is 27 Old Gloucester Street, London, WC1N 3AX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Presentation currency
The accounts are presented in £ sterling.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments
Investments in listed equities are shown at fair value.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line method - 20%
Motor vehicles
Straight line method - 10%
Computer equipment
Straight line method - 25%
- 6 -
SmarterQueue Ltd Notes to the Accounts for the year ended 29 February 2024
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
5,914 
60,450 
3,072 
69,436 
Additions
- 
- 
3,008 
3,008 
At 29 February 2024
5,914 
60,450 
6,080 
72,444 
Depreciation
At 1 March 2023
887 
5,541 
2,527 
8,955 
Charge for the year
1,183 
6,045 
488 
7,716 
At 29 February 2024
2,070 
11,586 
3,015 
16,671 
Net book value
At 29 February 2024
3,844 
48,864 
3,065 
55,773 
At 28 February 2023
5,027 
54,909 
545 
60,481 
5
Investments
Other investments 
£ 
Valuation at 1 March 2023
75,837 
Fair value adjustments
4,588 
Valuation at 29 February 2024
80,425 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
765 
Amounts due from group undertakings etc.
13,502 
13,502 
Other debtors
4,777 
16,082 
18,279 
30,349 
- 7 -
SmarterQueue Ltd Notes to the Accounts for the year ended 29 February 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
9,659 
- 
Trade creditors
13,990 
32,735 
Taxes and social security
18,136 
10,237 
Other creditors
- 
42 
Loans from directors
9,347 
8,348 
Accruals
30,550 
20,985 
81,682 
72,347 
The director's loan account is non-interest bearing and repayable on demand.
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
- 8 -