SM24 ENTERPRISES LTD
Registered number: 11441410
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,328 14,153
Current assets
Cash at bank and in hand 9 84
Creditors: amounts falling due within one year 4 (42,187) (36,734)
Net current assets/(liabilities) (42,178) (36,650)
Total assets less current liabilities (30,850) (22,497)
Creditors: amounts falling due after more than one year 6 (28,325) (29,123)
Net assets/(liabilities) (59,175) (51,620)
Capital and reserves
Called up share capital 100 100
Profit and loss account (59,275) (51,720)
Shareholders' funds (59,175) (51,620)
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.
Sophie Lynne Yaeger
Director
Approved by the board on 5 February 2025
SM24 ENTERPRISES LTD
Notes to the Accounts
for the year ended 30 June 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:
Leasehold 0%
Comptuer equipment 20% Straight line
Fixtures and fittings 20% Straight line
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Computer Equipment Fixtures & Fittings Land & Property Leasehold Total
£ £ £ £
Cost
At 1 July 2023 9,673 4,450 8,497 22,620
At 30 June 2024 9,673 4,450 8,497 22,620
Depreciation
At 1 July 2023 6,373 2,094 - 8,467
Charge for the year 1,935 890 - 2,825
At 30 June 2024 8,308 2,984 - 11,292
Net book value
At 30 June 2024 1,365 1,466 8,497 11,328
At 30 June 2023 3,300 2,356 8,497 14,153
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 12
Accrual 1,200 1,200
Director's accounts 40,987 35,522
42,187 36,734
5 Profit and loss account 2024
£
At 1 July 2023 (51,720)
Profit/(loss) for the year (7,554)
Dividend -
At 30 June 2024 (59,274)
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,583 5,381
Other creditors 23,742 23,742
28,325 29,123
7 Related party transactions
Included within the creditors at the year end is £40,986. (2023: £35,522) due to the company directors. During the period the company paid £105 of expenses on behalf of the directors and the directors introduced £5,569 into the company.
8 Controlling party
The ultimate controlling party is the directors and shareholder Mrs Sophie Lynne Yaeger.
9 Other information
SM24 ENTERPRISES LTD is a private company limited by shares and incorporated in England. Its registered office is:
Cotton Court Business Centre
Church Street
Preston
PR1 3BY
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