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REGISTERED NUMBER: 07943137 (England and Wales)










Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31st March 2024

for

Trades Smart Ltd

Trades Smart Ltd (Registered number: 07943137)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Report of the Directors 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 6


Trades Smart Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTORS: D J Ridgway
Mrs R L Ridgway





REGISTERED OFFICE: 2271H Dunbeath Road
Elgin Industrial Estate
Swindon
Wiltshire
SN2 8EA





REGISTERED NUMBER: 07943137 (England and Wales)





ACCOUNTANTS: Bew & Co Limited
Chartered Accountants
130 High Street
Marlborough
Wiltshire
SN8 1LZ

Trades Smart Ltd (Registered number: 07943137)

Report of the Directors
for the Year Ended 31st March 2024

The directors present their report with the financial statements of the company for the year ended 31st March 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2023 to the date of this report.

D J Ridgway
Mrs R L Ridgway

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs R L Ridgway - Director


2nd December 2024

Trades Smart Ltd (Registered number: 07943137)

Statement of Income and
Retained Earnings
for the Year Ended 31st March 2024

31.3.24 31.3.23
£    £   

TURNOVER 1,179,966 1,353,508

Cost of sales 1,005,594 1,092,554
GROSS PROFIT 174,372 260,954

Administrative expenses 147,100 144,926
OPERATING PROFIT 27,272 116,028

Interest receivable and similar income 1,298 246
28,570 116,274

Interest payable and similar expenses 654 949
PROFIT BEFORE TAXATION 27,916 115,325

Tax on profit 6,520 22,459
PROFIT FOR THE FINANCIAL YEAR 21,396 92,866

Retained earnings at beginning of year 283,602 258,736

Dividends (68,000 ) (68,000 )

RETAINED EARNINGS AT END OF
YEAR

236,998

283,602

Trades Smart Ltd (Registered number: 07943137)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,018 13,998

CURRENT ASSETS
Stocks 50,000 49,000
Debtors 5 230,751 260,966
Cash at bank and in hand 109,010 148,292
389,761 458,258
CREDITORS
Amounts falling due within one year 6 146,843 162,554
NET CURRENT ASSETS 242,918 295,704
TOTAL ASSETS LESS CURRENT
LIABILITIES

252,936

309,702

CREDITORS
Amounts falling due after more than one
year

7

(13,333

)

(22,500

)

PROVISIONS FOR LIABILITIES (2,505 ) (3,500 )
NET ASSETS 237,098 283,702

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 236,998 283,602
SHAREHOLDERS' FUNDS 237,098 283,702

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

Trades Smart Ltd (Registered number: 07943137)

Balance Sheet - continued
31st March 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 2nd December 2024 and were signed on its behalf by:





D J Ridgway - Director


Trades Smart Ltd (Registered number: 07943137)

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

1. STATUTORY INFORMATION

Trades Smart Ltd 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.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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 99 (2023 - 6 ) .

Trades Smart Ltd (Registered number: 07943137)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 31,050
Additions 480
At 31st March 2024 31,530
DEPRECIATION
At 1st April 2023 17,052
Charge for year 4,460
At 31st March 2024 21,512
NET BOOK VALUE
At 31st March 2024 10,018
At 31st March 2023 13,998

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 93,679 129,812
Other debtors 137,072 131,154
230,751 260,966

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 89,603 92,102
Taxation and social security 30,272 37,772
Other creditors 16,968 22,680
146,843 162,554

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 13,333 22,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year - 17,051