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Company No: 12761735 (England and Wales)

SMART IDEAS HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

SMART IDEAS HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

SMART IDEAS HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 May 2024
SMART IDEAS HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 200 200
200 200
Current assets
Debtors 4 376,980 9,897
Cash at bank and in hand 521,250 859,460
898,230 869,357
Creditors: amounts falling due within one year 5 ( 16,875) ( 1,103)
Net current assets 881,355 868,254
Total assets less current liabilities 881,555 868,454
Net assets 881,555 868,454
Capital and reserves
Called-up share capital 6 200 200
Profit and loss account 881,355 868,254
Total shareholders' funds 881,555 868,454

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Smart Ideas Holdings Limited (registered number: 12761735) were approved and authorised for issue by the Board of Directors on 29 November 2024. They were signed on its behalf by:

William Brian Smart
Director
SMART IDEAS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
SMART IDEAS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Smart Ideas Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4-6 De Salis Drive, Hampton Lovett, Droitwich, WR9 0QE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 June 2023 200
Additions 102
Disposals ( 102)
At 31 May 2024 200
Carrying value at 31 May 2024 200
Carrying value at 31 May 2023 200

4. Debtors

2024 2023
£ £
Amounts owed by own subsidiaries 0 9,897
Amounts owed by connected companies 376,980 0
376,980 9,897

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to own subsidiaries 12,508 0
Taxation and social security 4,367 1,103
16,875 1,103

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
90 A Ordinary shares of £ 1.00 each 90 90
10 C Ordinary shares of £ 1.00 each 10 10
200 200

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Amounts owed (to) by subsidiaries (12,610) 9,897

Transactions with the entity's directors

Dividends were voted of £150,345 during the financial year ended 31 May 2024.