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Registered number: 08771212
Smart Integrated Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Smart Integrated Solutions Ltd For The Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Smart Integrated Solutions Ltd For The Year Ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Smart Integrated Solutions Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Smart Integrated Solutions Ltd and state those matters that we have agreed to state to the directors of Smart Integrated Solutions Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Smart Integrated Solutions Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Smart Integrated Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Smart Integrated Solutions Ltd . You consider that Smart Integrated Solutions Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Smart Integrated Solutions Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
2 December 2024
The Alanbrookes Group Ltd
Chartered Accountants
24 The Glove Factory
Holt
Wiltshire
BA14 6RL
Page 1
Page 2
Balance Sheet
Registered number: 08771212
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 115,507 129,511
115,507 129,511
CURRENT ASSETS
Stocks 5 58,131 36,744
Debtors 6 126,444 221,944
Cash at bank and in hand 246,589 244,881
431,164 503,569
Creditors: Amounts Falling Due Within One Year 7 (340,772 ) (415,067 )
NET CURRENT ASSETS (LIABILITIES) 90,392 88,502
TOTAL ASSETS LESS CURRENT LIABILITIES 205,899 218,013
Creditors: Amounts Falling Due After More Than One Year 8 (67,119 ) (87,126 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (27,827 ) (24,595 )
NET ASSETS 110,953 106,292
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 110,853 106,192
SHAREHOLDERS' FUNDS 110,953 106,292
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Webb
Director
1 December 2024
The notes on pages 4 to 7 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Smart Integrated Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08771212 . The registered office is Unit 1 Fourbrooks Business Park, Stanier Road, Calne, Wiltshire, SN11 9PP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
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 from 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. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% straight line
Computer Equipment 33% straight line
2.5. Leasing and Hire Purchase Contracts
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 profit and loss account 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 profit and loss account as incurred.
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2.6. Stocks and Work in Progress
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.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 15)
16 15
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 9,791 150,060 16,298 27,723 203,872
Additions 4,508 14,688 258 7,655 27,109
Disposals (167 ) (5,150 ) - - (5,317 )
As at 31 March 2024 14,132 159,598 16,556 35,378 225,664
...CONTINUED
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Depreciation
As at 1 April 2023 6,165 28,542 16,177 23,477 74,361
Provided during the period 2,841 33,440 81 3,936 40,298
Disposals (41 ) (4,461 ) - - (4,502 )
As at 31 March 2024 8,965 57,521 16,258 27,413 110,157
Net Book Value
As at 31 March 2024 5,167 102,077 298 7,965 115,507
As at 1 April 2023 3,626 121,518 121 4,246 129,511
5. Stocks
2024 2023
£ £
Finished goods 58,131 36,744
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 117,954 208,792
Other debtors 8,490 13,152
126,444 221,944
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,255 17,124
Trade creditors 148,967 232,511
Bank loans and overdrafts 5,618 5,618
Amounts owed to group undertakings 27,317 43,996
Other creditors 65,746 68,221
Taxation and social security 67,869 47,597
340,772 415,067
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 34,953 49,366
Bank loans 32,166 37,760
67,119 87,126
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9. Ultimate Controlling Party
The company's ultimate controlling party is Mr Michael Webb, director.
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