Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01313falseNo description of principal activity350truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05719596 2023-03-01 2024-02-29 05719596 2022-03-01 2023-02-28 05719596 2024-02-29 05719596 2023-02-28 05719596 c:Director1 2023-03-01 2024-02-29 05719596 d:PlantMachinery 2023-03-01 2024-02-29 05719596 d:PlantMachinery 2024-02-29 05719596 d:PlantMachinery 2023-02-28 05719596 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05719596 d:MotorVehicles 2023-03-01 2024-02-29 05719596 d:MotorVehicles 2024-02-29 05719596 d:MotorVehicles 2023-02-28 05719596 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05719596 d:OfficeEquipment 2023-03-01 2024-02-29 05719596 d:OfficeEquipment 2024-02-29 05719596 d:OfficeEquipment 2023-02-28 05719596 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05719596 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05719596 d:ComputerSoftware 2024-02-29 05719596 d:ComputerSoftware 2023-02-28 05719596 d:CurrentFinancialInstruments 2024-02-29 05719596 d:CurrentFinancialInstruments 2023-02-28 05719596 d:Non-currentFinancialInstruments 2024-02-29 05719596 d:Non-currentFinancialInstruments 2023-02-28 05719596 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 05719596 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 05719596 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 05719596 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 05719596 d:ShareCapital 2024-02-29 05719596 d:ShareCapital 2023-02-28 05719596 d:RetainedEarningsAccumulatedLosses 2024-02-29 05719596 d:RetainedEarningsAccumulatedLosses 2023-02-28 05719596 c:OrdinaryShareClass1 2023-03-01 2024-02-29 05719596 c:OrdinaryShareClass1 2024-02-29 05719596 c:OrdinaryShareClass1 2023-02-28 05719596 c:FRS102 2023-03-01 2024-02-29 05719596 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05719596 c:FullAccounts 2023-03-01 2024-02-29 05719596 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05719596 d:ComputerSoftware d:OwnedIntangibleAssets 2023-03-01 2024-02-29 05719596 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 05719596







SMARTER SERVICES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 29 FEBRUARY 2024






















TWP Accounting LLP
Chartered Accountants 
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE

 
SMARTER SERVICES LIMITED
REGISTERED NUMBER: 05719596

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
5,830
8,538

Tangible assets
 5 
150,600
133,821

Investments
 6 
1,326,140
-

  
1,482,570
142,359

Current assets
  

Stocks
 7 
54,248
64,000

Debtors: amounts falling due within one year
 8 
1,943,958
1,677,943

Cash at bank and in hand
 9 
459,779
168,916

  
2,457,985
1,910,859

Creditors: amounts falling due within one year
 10 
(2,423,713)
(1,395,414)

Net current assets
  
 
 
34,272
 
 
515,445

Total assets less current liabilities
  
1,516,842
657,804

Creditors: amounts falling due after more than one year
 11 
(454,929)
(210,230)

Provisions
  

Deferred tax
  
(34,005)
(24,278)

  
 
 
(34,005)
 
 
(24,278)

Net assets
  
1,027,908
423,296


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
1,026,908
422,296

  
1,027,908
423,296


Page 1

 
SMARTER SERVICES LIMITED
REGISTERED NUMBER: 05719596

BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2024.




J Southwell
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SMARTER SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Smarter Services Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

 
2.4

Leases

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.

Page 3

 
SMARTER SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Intangible assets are related to Computer Software. Computer Software is amortised to the income statement over its estimated economic life of 5 years.

Page 4

 
SMARTER SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Straight line
Motor vehicles
-
25%
Straight line
Office equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
SMARTER SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 350 (2023 - 313).


4.


Intangible assets






Computer software

£



Cost


At 1 March 2023
13,544



At 29 February 2024

13,544



Amortisation


At 1 March 2023
5,006


Charge for the year on owned assets
2,708



At 29 February 2024

7,714



Net book value



At 29 February 2024
5,830



At 28 February 2023
8,538



Page 6

 
SMARTER SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2023
101,084
101,655
25,447
228,186


Additions
66,427
-
12,158
78,585


Disposals
-
(16,500)
-
(16,500)



At 29 February 2024

167,511
85,155
37,605
290,271



Depreciation


At 1 March 2023
48,230
34,631
11,504
94,365


Charge for the year on owned assets
30,886
12,363
7,213
50,462


Disposals
-
(5,156)
-
(5,156)



At 29 February 2024

79,116
41,838
18,717
139,671



Net book value



At 29 February 2024
88,395
43,317
18,888
150,600



At 28 February 2023
52,854
67,024
13,943
133,821


6.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


Additions
1,326,140



At 29 February 2024
1,326,140




Page 7

 
SMARTER SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Stocks

29 February
28 February
2024
2023
£
£

Materials
54,248
64,000

54,248
64,000



8.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
1,550,596
1,450,846

Amounts owed by group undertakings
100,000
-

Other debtors
55,263
141,206

Prepayments and accrued income
238,099
85,891

1,943,958
1,677,943



9.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
459,779
168,916

459,779
168,916


Page 8

 
SMARTER SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
10,881
10,902

Trade creditors
309,283
297,505

Amounts owed to group undertakings
662,080
-

Corporation tax
157,113
127,210

Other taxation and social security
700,821
495,814

Obligations under finance lease and hire purchase contracts
26,039
23,762

Other creditors
467,617
324,784

Accruals and deferred income
89,879
115,437

2,423,713
1,395,414



11.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
12,500
22,500

Net obligations under finance leases and hire purchase contracts
7,697
29,293

Amounts owed to group undertakings
276,843
-

Other creditors
157,889
158,437

454,929
210,230



12.


Share capital

29 February
28 February
2024
2023
£
£
Authorised, allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £28,669 (2023 - £21,497). Contributions totalling £207,624 (2023 - £201,281) were payable to the fund at the balance sheet date and are included in creditors

Page 9

 
SMARTER SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

14.


Related party transactions

The company is a wholly owned subsidiary and accordingly has taken the exemptions provided within paragraph 33.1A of FRS 102 and therefore transactions with group companies have not been disclosed.


15.


Controlling party

The company's immediate and parent undertaking is Smarter Services Group Limited, which owns 100% of the shares of Smarter Services Ltd. Smarter Services Group Limited is incorporated in England and Wales.
The ultimate controlling party is considered to be Jason Southwell by virtue of his majority holding of Smarter Services Group Limited. Copies of this company's accounts may be obtained from the secretary at Lancaster House, 11 Churchfield Road, Walton-On-Thames, Surrey, United Kingdom, KT12 2TY.


Page 10