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REGISTERED NUMBER: 14693030 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

28 FEBRUARY 2023 TO 29 FEBRUARY 2024

FOR

SMART DRIVING GROUP LIMITED

SMART DRIVING GROUP LIMITED (REGISTERED NUMBER: 14693030)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 28 FEBRUARY 2023 TO 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMART DRIVING GROUP LIMITED

COMPANY INFORMATION
FOR THE PERIOD 28 FEBRUARY 2023 TO 29 FEBRUARY 2024







DIRECTORS: Mr L D Moye
Ms R Deere





REGISTERED OFFICE: 15 Barleyfields
Thurston
Bury St Edmunds
Suffolk
IP31 3TF





REGISTERED NUMBER: 14693030 (England and Wales)





ACCOUNTANTS: Twinn Accountants Limited
Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY

SMART DRIVING GROUP LIMITED (REGISTERED NUMBER: 14693030)

BALANCE SHEET
29 FEBRUARY 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 32,889

CURRENT ASSETS
Debtors 5 2,330
Cash at bank 2,291
4,621
CREDITORS
Amounts falling due within one year 6 27,827
NET CURRENT LIABILITIES (23,206 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,683

CREDITORS
Amounts falling due after more than one
year

7

13,105
NET LIABILITIES (3,422 )

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings (3,423 )
(3,422 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 February 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.

SMART DRIVING GROUP LIMITED (REGISTERED NUMBER: 14693030)

BALANCE SHEET - continued
29 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:





Mr L D Moye - Director


SMART DRIVING GROUP LIMITED (REGISTERED NUMBER: 14693030)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 28 FEBRUARY 2023 TO 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Smart Driving Group 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the period 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 period 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
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of the capital and interest elements. The interest is charged to the profit and loss so as to produce a constant periodic rate of interest of the remaining balance of the liability.

Rentals payable under the operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the relevant lease except where another more systematic basis if more representative of the time pattern in which economic benefits from the leases asset are consumed.

SMART DRIVING GROUP LIMITED (REGISTERED NUMBER: 14693030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28 FEBRUARY 2023 TO 29 FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
Additions 12,221 30,488 42,709
At 29 February 2024 12,221 30,488 42,709
DEPRECIATION
Charge for period 2,832 6,988 9,820
At 29 February 2024 2,832 6,988 9,820
NET BOOK VALUE
At 29 February 2024 9,389 23,500 32,889

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 19,942
At 29 February 2024 19,942
DEPRECIATION
Charge for period 4,570
At 29 February 2024 4,570
NET BOOK VALUE
At 29 February 2024 15,372

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 500
Prepayments 1,830
2,330

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts (see note 8) 5,431
Trade creditors 1,107
Social security and other taxes 591
Director's current account 11,492
Accruals and deferred income 9,206
27,827

SMART DRIVING GROUP LIMITED (REGISTERED NUMBER: 14693030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28 FEBRUARY 2023 TO 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Hire purchase contracts (see note 8) 13,105

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire
purchase
contracts
£   
Net obligations repayable:
Within one year 5,431
Between one and five years 13,105
18,536

Non-cancellable operating leases
£   
Within one year 7,200
Between one and five years 21,600
In more than five years 1,200
30,000