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REGISTERED NUMBER: 06252193 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2024

FOR

SMART TUNE LIMITED

SMART TUNE LIMITED (REGISTERED NUMBER: 06252193)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMART TUNE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: Miss N. Fox
Mr M. Fox





SECRETARY: Miss N. Fox





REGISTERED OFFICE: Bryn Parc
Brynrefail
Caernarfon
Gwynedd
LL55 3NR





REGISTERED NUMBER: 06252193 (England and Wales)





ACCOUNTANTS: Richard Williams & Co
Chartered Accountants
The Old Police Station
Gaerwen
Anglesey
LL60 6BL

SMART TUNE LIMITED (REGISTERED NUMBER: 06252193)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,500 5,250
Tangible assets 5 1,078 1,227
5,578 6,477

CURRENT ASSETS
Stocks 11,927 12,617
Debtors 6 4,301 4,061
Cash at bank and in hand 263 364
16,491 17,042
CREDITORS
Amounts falling due within one year 7 11,642 11,748
NET CURRENT ASSETS 4,849 5,294
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,427

11,771

CREDITORS
Amounts falling due after more than one
year

8

(15,000

)

(15,000

)

PROVISIONS FOR LIABILITIES (213 ) (213 )
NET LIABILITIES (4,786 ) (3,442 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (4,788 ) (3,444 )
(4,786 ) (3,442 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

SMART TUNE LIMITED (REGISTERED NUMBER: 06252193)

BALANCE SHEET - continued
31ST MAY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th February 2025 and were signed on its behalf by:




Miss N. Fox - Director



Mr M. Fox - Director


SMART TUNE LIMITED (REGISTERED NUMBER: 06252193)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

Smart Tune Limited 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

SMART TUNE LIMITED (REGISTERED NUMBER: 06252193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2023
and 31st May 2024 20,000
AMORTISATION
At 1st June 2023 14,750
Charge for year 750
At 31st May 2024 15,500
NET BOOK VALUE
At 31st May 2024 4,500
At 31st May 2023 5,250

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2023
and 31st May 2024 6,542
DEPRECIATION
At 1st June 2023 5,315
Charge for year 149
At 31st May 2024 5,464
NET BOOK VALUE
At 31st May 2024 1,078
At 31st May 2023 1,227

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,876 4,061
Other debtors 425 -
4,301 4,061

SMART TUNE LIMITED (REGISTERED NUMBER: 06252193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,576 1,079
Trade creditors 250 2,483
Taxation and social security 24 170
Other creditors 9,792 8,016
11,642 11,748

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 15,000 15,000