Registered number
04495074
Smart Medical Limited
Filleted Accounts
31 October 2024
Smart Medical Limited
Company Information
Directors
P M Collins
S R Dickinson
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered number
04495074
Smart Medical Limited
Registered number: 04495074
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 51,261 83,229
Current assets
Stocks 21,898 59,217
Debtors 4 74,525 91,591
Cash at bank and in hand 781,572 706,742
877,995 857,550
Creditors: amounts falling due within one year 5 (305,839) (303,982)
Net current assets 572,156 553,568
Net assets 623,417 636,797
Capital and reserves
Called up share capital 100 100
Profit and loss account 623,317 636,697
Shareholders' funds 623,417 636,797
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P M Collins S R Dickinson
Director
Approved by the board on 31 December 2024
Smart Medical Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Computer equipment 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Computer equipment Motor vehicles Total
£ £ £
Cost
At 1 November 2023 15,227 125,555 140,782
Additions 1,846 - 1,846
Disposals - (29,033) (29,033)
At 31 October 2024 17,073 96,522 113,595
Depreciation
At 1 November 2023 11,275 46,278 57,553
Charge for the year 2,035 17,970 20,005
On disposals - (15,224) (15,224)
At 31 October 2024 13,310 49,024 62,334
Net book value
At 31 October 2024 3,763 47,498 51,261
At 31 October 2023 3,952 79,277 83,229
4 Debtors 2024 2023
£ £
Trade debtors 63,074 77,821
Other debtors 11,451 13,770
74,525 91,591
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 24,697 16,011
Taxation and social security costs 89,087 116,108
Other creditors 192,055 171,863
305,839 303,982
6 Controlling party
The company is controlled by the directors.
7 Other information
Smart Medical Limited is a private company limited by shares and incorporated in England. Its registered office is:
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Smart Medical Limited 04495074 false 2023-11-01 2024-10-31 2024-10-31 VT Final Accounts April 2024 P M Collins S R Dickinson No description of principal activity 04495074 2022-11-01 2023-10-31 04495074 core:WithinOneYear 2023-10-31 04495074 core:ShareCapital 2023-10-31 04495074 core:RetainedEarningsAccumulatedLosses 2023-10-31 04495074 2023-11-01 2024-10-31 04495074 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04495074 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 04495074 bus:Director1 2023-11-01 2024-10-31 04495074 bus:Director2 2023-11-01 2024-10-31 04495074 bus:Director40 2023-11-01 2024-10-31 04495074 1 2023-11-01 2024-10-31 04495074 2 2023-11-01 2024-10-31 04495074 core:PlantMachinery 2023-11-01 2024-10-31 04495074 core:Vehicles 2023-11-01 2024-10-31 04495074 countries:England 2023-11-01 2024-10-31 04495074 bus:FRS102 2023-11-01 2024-10-31 04495074 bus:FilletedAccounts 2023-11-01 2024-10-31 04495074 2024-10-31 04495074 core:WithinOneYear 2024-10-31 04495074 core:ShareCapital 2024-10-31 04495074 core:RetainedEarningsAccumulatedLosses 2024-10-31 04495074 core:PlantMachinery 2024-10-31 04495074 core:Vehicles 2024-10-31 04495074 2023-10-31 04495074 core:PlantMachinery 2023-10-31 04495074 core:Vehicles 2023-10-31 iso4217:GBP xbrli:pure