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REGISTERED NUMBER: 06505228 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 January 2024

for

SMARTSEAL UK LTD

SMARTSEAL UK LTD (REGISTERED NUMBER: 06505228)

Contents of the Financial Statements
for the year ended 31 January 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SMARTSEAL UK LTD

Company Information
for the year ended 31 January 2024







Directors: Mr N F Blake
Mr N J Giannotti





Secretary: Mr N F Blake





Registered office: Unit 3
65 - 67 Cutlers Road
South Woodham Ferrers
Chelmsford
Essex
CM3 5WA





Registered number: 06505228 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

SMARTSEAL UK LTD (REGISTERED NUMBER: 06505228)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 12,910 17,200
Investments 5 41,000 41,000
53,910 58,200

Current assets
Stocks 20,000 28,500
Debtors 6 1,475,546 1,554,201
Cash at bank 1,707,783 1,134,113
3,203,329 2,716,814
Creditors
Amounts falling due within one year 7 784,788 633,237
Net current assets 2,418,541 2,083,577
Total assets less current liabilities 2,472,451 2,141,777

Provisions for liabilities 9 2,453 3,268
Net assets 2,469,998 2,138,509

Capital and reserves
Called up share capital 10 100 100
Retained earnings 2,469,898 2,138,409
Shareholders' funds 2,469,998 2,138,509

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:




Mr N F Blake - Director


SMARTSEAL UK LTD (REGISTERED NUMBER: 06505228)

Notes to the Financial Statements
for the year ended 31 January 2024


1. Statutory information

Smartseal UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer and office equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment
Investments held as fixed assets are stated at cost.

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SMARTSEAL UK LTD (REGISTERED NUMBER: 06505228)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


2. Accounting policies - continued

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.

Operating lease commitments
Rental applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on the straight line basis over the lease term.

3. Employees and directors

The average number of employees during the year was 18 (2023 - 16 ) .

4. Tangible fixed assets
Computer
Fixtures and
and Motor office
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 February 2023 17,086 12,595 72,583 102,264
Additions - - 1,215 1,215
At 31 January 2024 17,086 12,595 73,798 103,479
Depreciation
At 1 February 2023 8,841 11,454 64,769 85,064
Charge for year 1,184 285 4,036 5,505
At 31 January 2024 10,025 11,739 68,805 90,569
Net book value
At 31 January 2024 7,061 856 4,993 12,910
At 31 January 2023 8,245 1,141 7,814 17,200

5. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 February 2023
and 31 January 2024 41,000
Net book value
At 31 January 2024 41,000
At 31 January 2023 41,000

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 1,475,546 1,554,201

SMARTSEAL UK LTD (REGISTERED NUMBER: 06505228)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 372,189 320,735
Taxation and social security 396,569 304,156
Other creditors 16,030 8,346
784,788 633,237

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 28,000 18,667
Between one and five years 23,333 -
51,333 18,667

9. Provisions for liabilities
2024 2023
£    £   
Deferred tax 2,453 3,268

Deferred
tax
£   
Balance at 1 February 2023 3,268
Credit to Profit and Loss Account during year (815 )
Balance at 31 January 2024 2,453

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr N J Giannotti
Balance outstanding at start of year 71,195 83,107
Amounts repaid (32,752 ) (11,912 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,443 71,195

SMARTSEAL UK LTD (REGISTERED NUMBER: 06505228)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


11. Directors' advances, credits and guarantees - continued

Mr N F Blake
Balance outstanding at start of year 175,438 197,576
Amounts repaid (52,384 ) (22,138 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 123,054 175,438

12. Related party disclosures

Included in other debtors due within one year is an amount of £1,261,055 (2023 - £21,261,055) due from Smartseal Property Investments Ltd, a company in which the directors have a material interest.