SMART TECHNOLOGIES (GB) LIMITED

Company Registration Number:
06633671 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

SMART TECHNOLOGIES (GB) LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

SMART TECHNOLOGIES (GB) LIMITED

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Directors

The director shown below has held office during the whole of the period from
1 April 2023 to 31 March 2024

Angela Townsend


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
16 December 2024

And signed on behalf of the board by:
Name: Angela Townsend
Status: Director

SMART TECHNOLOGIES (GB) LIMITED

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 3,452,095 4,032,822
Cost of sales: 0 0
Gross profit(or loss): 3,452,095 4,032,822
Distribution costs: 0 0
Administrative expenses: ( 3,225,258 ) ( 3,777,337 )
Other operating income: 0 0
Operating profit(or loss): 226,837 255,485
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 226,837 255,485
Tax: ( 60,967 ) ( 48,855 )
Profit(or loss) for the financial year: 165,870 206,630

SMART TECHNOLOGIES (GB) LIMITED

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 4 4,137
Total fixed assets: 4 4,137
Current assets
Debtors: 4 2,457,526 2,024,123
Cash at bank and in hand: 153,712 399,282
Total current assets: 2,611,238 2,423,405
Creditors: amounts falling due within one year: 5 ( 372,841 ) ( 355,010 )
Net current assets (liabilities): 2,238,397 2,068,395
Total assets less current liabilities: 2,238,401 2,072,532
Total net assets (liabilities): 2,238,401 2,072,532
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 2,238,301 2,072,432
Total Shareholders' funds: 2,238,401 2,072,532

The notes form part of these financial statements

SMART TECHNOLOGIES (GB) LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 16 December 2024
and signed on behalf of the board by:

Name: Angela Townsend
Status: Director

The notes form part of these financial statements

SMART TECHNOLOGIES (GB) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the recharge of costs incurred by the business to the parent company at invoiced amounts less value added tax and is recognised in the period in which it relates.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less accumulated depreciation, such costs include costs directly attributable to making the asset capable of operations as intended. Depreciation is provided at the following rates calculated to write off the cost of fixed assets, less their estimated residual value. Depreciation is provided on the following basis: Plant and machinery - 33% per annum Motor vehicles - 25% per annum

    Other accounting policies

    1. Accounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 Section 1A - small entities, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The presentational and functional currency of these financial statements is GBP. Values have been rounded to the nearest pound. The following principal accounting policies have been applied: 1.2 Going concern The financial statements have been prepared on a going concern basis. The Director has considered forecasts for the period to 31 March 2026, which demonstrate the business will continue to trade profitability. As turnover represents a recharge of costs to the parent company, the Company is reliant upon the Group to provide sufficient cash to pay its liabilities as they fall due. As a result, SMART Technologies Inc has provided the Company with a letter of support for the 12 month period following the date of approval of these financial statements. After considering the support available from SMART Technologies Inc, the Director has a reasonable expectation that the Company has adequate resources and support to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis of accounting in preparing the annual financial statements. 1.3 Turnover Turnover represents the recharge of costs incurred by the business to the parent company at invoiced amounts less value added tax and is recognised in the period in which it relates. 1.4 Tangible fixed assets Tangible fixed assets are stated at cost less accumulated depreciation, such costs include costs directly attributable to making the asset capable of operations as intended. Depreciation is provided at the following rates calculated to write off the cost of fixed assets, less their estimated residual value. Depreciation is provided on the following basis: Plant and machinery - 33% per annum Motor vehicles - 25% per annum 1.5 Debtors Short-term debtors are measured at transaction price, less any impairment. 1.6 Creditors Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. 1.7 Financial instruments The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. 1.8 Operating leases All existing leases are operating leases. Their annual rentals are charged to the Statement of Income and Retained Earnings on a straight-line basis over the term of the lease. 1.9 Pensions Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. 1.10 Current and deferred taxation The tax expense for the year comprises current and deferred tax. Tax is recognised in statement of income and retained earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position, except that: the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

SMART TECHNOLOGIES (GB) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 21 27

SMART TECHNOLOGIES (GB) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 5,978 18,045 24,023
Additions 917 917
Disposals
Revaluations
Transfers
At 31 March 2024 6,895 18,045 24,940
Depreciation
At 1 April 2023 5,976 13,910 19,886
Charge for year 916 4,134 5,050
On disposals
Other adjustments
At 31 March 2024 6,892 18,044 24,936
Net book value
At 31 March 2024 3 1 4
At 31 March 2023 2 4,135 4,137

SMART TECHNOLOGIES (GB) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
£ £
Other debtors 2,457,526 2,024,123
Total 2,457,526 2,024,123

SMART TECHNOLOGIES (GB) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 15,790
Taxation and social security 70,707 45,643
Accruals and deferred income 282,870 293,577
Other creditors 19,264
Total 372,841 355,010

SMART TECHNOLOGIES (GB) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Financial Commitments

12. Pension commitments The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension charge amounted to £69,894 (2023 - £90,337). At the year end there were outstanding contributions amounting to £10,809 (2023 - £Nil). 13. Commitments under operating leases At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods: 2024 - £0 2023 - £8,200