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REGISTERED NUMBER: 06225622 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 31 March 2024

for

Smart Accountancy Solutions Limited

Smart Accountancy Solutions Limited (Registered number: 06225622)






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




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Smart Accountancy Solutions Limited (Registered number: 06225622)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 170,000 190,000
Tangible assets 5 3,090 2,876
173,090 192,876

CURRENT ASSETS
Debtors 172,541 122,365
Cash at bank 42,917 49,917
215,458 172,282
CREDITORS
Amounts falling due within one year 167,193 127,588
NET CURRENT ASSETS 48,265 44,694
TOTAL ASSETS LESS CURRENT
LIABILITIES

221,355

237,570

CREDITORS
Amounts falling due after more than
one year

16,912

74,583
NET ASSETS 204,443 162,987

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 204,441 162,985
SHAREHOLDERS' FUNDS 204,443 162,987

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 director acknowledges his 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 Accountancy Solutions Limited (Registered number: 06225622)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 December 2024 and were signed by:





Mr M A Smith - Director


Smart Accountancy Solutions Limited (Registered number: 06225622)

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

1. STATUTORY INFORMATION

Smart Accountancy Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06225622

Registered office: 26 Sansome Walk
Worcester
WR1 1LX

The presentation currency of the financial statements is the Pound Sterling (£).


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 2022, is being amortised evenly over its estimated useful life of ten 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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Interest bearing borrowings are initially recognised at transaction price, adjusted for transaction costs. Interest bearing borrowings are subsequently measured at amortised cost using the effective interest method with interest being recognised in the profit and loss account.


Smart Accountancy Solutions Limited (Registered number: 06225622)

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

2. ACCOUNTING POLICIES - continued
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.

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 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 200,000
AMORTISATION
At 1 April 2023 10,000
Amortisation for year 20,000
At 31 March 2024 30,000
NET BOOK VALUE

At 31 March 2024 170,000
At 31 March 2023 190,000

Smart Accountancy Solutions Limited (Registered number: 06225622)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 6,671
Additions 1,245
At 31 March 2024 7,916
DEPRECIATION
At 1 April 2023 3,795
Charge for year 1,031
At 31 March 2024 4,826
NET BOOK VALUE
At 31 March 2024 3,090
At 31 March 2023 2,876

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr M A Smith
Balance outstanding at start of year - -
Amounts advanced 18,849 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,849 -

The director's loan was repaid within 9 months of the year end.

Interest has been charged at 2.25% in 2024 (2023 - Nil).