0 17 January 2025 false false false false false false false false false false true false false false false true false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 49 49 49 xbrli:pure xbrli:shares iso4217:GBP 08668939 2023-04-01 2024-03-31 08668939 2024-03-31 08668939 2023-03-31 08668939 2022-04-01 2023-03-31 08668939 2023-03-31 08668939 2022-03-31 08668939 bus:Director1 2023-04-01 2024-03-31 08668939 core:WithinOneYear 2024-03-31 08668939 core:WithinOneYear 2023-03-31 08668939 core:ShareCapital 2024-03-31 08668939 core:ShareCapital 2023-03-31 08668939 core:RetainedEarningsAccumulatedLosses 2024-03-31 08668939 core:RetainedEarningsAccumulatedLosses 2023-03-31 08668939 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 08668939 core:Non-currentFinancialInstruments 2024-03-31 08668939 core:Non-currentFinancialInstruments 2023-03-31 08668939 bus:SmallEntities 2023-04-01 2024-03-31 08668939 bus:Audited 2023-04-01 2024-03-31 08668939 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08668939 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08668939 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 08668939
Smartway Wholesale Limited
Filleted Financial Statements
31 March 2024
Smartway Wholesale Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
49
49
Current assets
Stocks
111,493
Debtors
5
1,417,955
1,234,622
Cash at bank and in hand
291,579
------------
------------
1,821,027
1,234,622
Creditors: amounts falling due within one year
6
2,958,023
1,235,184
------------
------------
Net current liabilities
1,136,996
562
------------
----
Total assets less current liabilities
( 1,136,947)
( 513)
------------
----
Net liabilities
( 1,136,947)
( 513)
------------
----
Smartway Wholesale Limited
Statement of Financial Position (continued)
31 March 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,137,047)
( 613)
------------
----
Shareholders deficit
( 1,136,947)
( 513)
------------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 15 January 2025 , and are signed on behalf of the board by:
Mr H Patel
Director
Company registration number: 08668939
Smartway Wholesale Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Related party transactions
The group has taken advantage of the exemption contained within FRS 102 and has therefore not disclosed transactions or balances with entities which form part of the group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Investments
Shares in participating interests
£
Cost
At 1 April 2023 and 31 March 2024
49
----
Impairment
At 1 April 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
49
----
At 31 March 2023
49
----
5. Debtors
2024
2023
£
£
Trade debtors
147,600
Other debtors
1,270,355
1,234,622
------------
------------
1,417,955
1,234,622
------------
------------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
418,648
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,301,253
1,235,184
Other creditors
1,238,122
------------
------------
2,958,023
1,235,184
------------
------------
7. Going concern
The companies liabilities exceed its assets by £1,136,947 as at the year end. The directors have stated that the company will continue to be supported by the parent company and therefore the company will continue on a going concern basis.
8. Events after the end of the reporting period
the company ceased to trade after the year end and will continue as such for the next 12 months.
9. Summary audit opinion
The auditor's report dated 17 January 2025 was unqualified .
The senior statutory auditor was Mark Illingsworth , for and on behalf of Versant Associates LLP .
10. Related party transactions
The immediate and ultimate parent company is Smartway PW Holdings Limited. It's registered office is The Old Mill, 9 Soar Lane, Leicester LE3 5DE and it's principal place of business is 10 Lyon Road, London SW19 2RL