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SMART MORTGAGES LIMITED

Registered Number
NI642513
(Northern Ireland)

Unaudited Financial Statements for the Year ended
30 June 2024

SMART MORTGAGES LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

Aaron McElhinney

Registered Address

2 Columba Terrace
Derry
BT47 6JT

Registered Number

NI642513 (Northern Ireland)
SMART MORTGAGES LIMITED
Statement of Financial Position
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3300,000350,000
Tangible assets45,7608,640
305,760358,640
Current assets
Debtors74,68748,952
Cash at bank and on hand135,62893,956
210,315142,908
Creditors amounts falling due within one year(112,524)(53,116)
Net current assets (liabilities)97,79189,792
Total assets less current liabilities403,551448,432
Creditors amounts falling due after one year(123,645)(210,043)
Net assets279,906238,389
Capital and reserves
Called up share capital100100
Profit and loss account279,806238,289
Shareholders' funds279,906238,389
The financial statements were approved and authorised for issue by the Director on 24 October 2024, and are signed on its behalf by:
Aaron McElhinney
Director
Registered Company No. NI642513
SMART MORTGAGES LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue 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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Amortisation is charged at a rate of 10%.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Office Equipment- 20% Straight line
2.Average number of employees

20242023
Average number of employees during the year45
3.Intangible assets

Total

£
Cost or valuation
At 01 July 23500,000
At 30 June 24500,000
Amortisation and impairment
At 01 July 23150,000
Charge for year50,000
At 30 June 24200,000
Net book value
At 30 June 24300,000
At 30 June 23350,000
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 2314,400
At 30 June 2414,400
Depreciation and impairment
At 01 July 235,760
Charge for year2,880
At 30 June 248,640
Net book value
At 30 June 245,760
At 30 June 238,640