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REGISTERED NUMBER: 08861723 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Smart Estate Agent Limited

Smart Estate Agent Limited (Registered number: 08861723)






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


Smart Estate Agent Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A L Pike
D B Scott





REGISTERED OFFICE: 10 Southernhay West
Exeter
EX1 1JG





REGISTERED NUMBER: 08861723 (England and Wales)





ACCOUNTANTS: Edward Squire
19 Exeter Road
Okehampton
Devon
EX20 1NN

Smart Estate Agent Limited (Registered number: 08861723)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 235,294 259,682
Tangible assets 5 29,330 42,736
Investments 6 800,000 800,000
1,064,624 1,102,418

CURRENT ASSETS
Debtors 7 85,147 18,885
Cash at bank 169,910 194,363
255,057 213,248
CREDITORS
Amounts falling due within one year 8 370,151 395,682
NET CURRENT LIABILITIES (115,094 ) (182,434 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

949,530

919,984

CREDITORS
Amounts falling due after more than
one year

9

(443,113

)

(624,809

)

PROVISIONS FOR LIABILITIES (5,412 ) (5,412 )
NET ASSETS 501,005 289,763

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 500,705 289,463
501,005 289,763

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.

Smart Estate Agent Limited (Registered number: 08861723)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





D B Scott - Director


Smart Estate Agent Limited (Registered number: 08861723)

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

1. STATUTORY INFORMATION

Smart Estate Agent 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Smart Estate Agent Limited (Registered number: 08861723)

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

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 16 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 426,100
Additions 17,025
At 31 March 2024 443,125
AMORTISATION
At 1 April 2023 166,418
Charge for year 41,413
At 31 March 2024 207,831
NET BOOK VALUE
At 31 March 2024 235,294
At 31 March 2023 259,682

Smart Estate Agent Limited (Registered number: 08861723)

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
and 31 March 2024 12,756 61,985 74,741
DEPRECIATION
At 1 April 2023 2,552 29,453 32,005
Charge for year 1,276 12,130 13,406
At 31 March 2024 3,828 41,583 45,411
NET BOOK VALUE
At 31 March 2024 8,928 20,402 29,330
At 31 March 2023 10,204 32,532 42,736

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 April 2023
and 31 March 2024 800,000
NET BOOK VALUE
At 31 March 2024 800,000
At 31 March 2023 800,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 26,123 5,280
Other debtors 59,024 13,605
85,147 18,885

Smart Estate Agent Limited (Registered number: 08861723)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 175,276 167,984
Trade creditors 1 (1 )
Taxation and social security 83,967 71,261
Other creditors 110,907 156,438
370,151 395,682

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 443,113 624,809

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 578,416 759,588

The bank loans were secured by fixed and floating charges over all of the company's assets and also over the assets of it's wholly owned subsidiary, LHB Properties Limited.

11. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had total commitments under operating leases of £146,796.

12. ULTIMATE CONTROLLING PARTY

The directors of the company are the ultimate controlling party.