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REGISTERED NUMBER: 02492874 (England and Wales)















DAVID SMART & ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024






DAVID SMART & ASSOCIATES LIMITED (REGISTERED NUMBER: 02492874)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DAVID SMART & ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: Mr W LeSauteur
Mr JR Venus





REGISTERED OFFICE: 32 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GG





REGISTERED NUMBER: 02492874 (England and Wales)





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

DAVID SMART & ASSOCIATES LIMITED (REGISTERED NUMBER: 02492874)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,209 15,654

CURRENT ASSETS
Stocks 31,135 32,783
Debtors 5 125,998 195,157
Cash at bank 190,265 111,259
347,398 339,199
CREDITORS
Amounts falling due within one year 6 73,798 65,097
NET CURRENT ASSETS 273,600 274,102
TOTAL ASSETS LESS CURRENT LIABILITIES 274,809 289,756

CAPITAL AND RESERVES
Called up share capital 183 183
Retained earnings 274,626 289,573
SHAREHOLDERS' FUNDS 274,809 289,756

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st February 2025 and were signed on its behalf by:




Mr W LeSauteur - Director



Mr JR Venus - Director


DAVID SMART & ASSOCIATES LIMITED (REGISTERED NUMBER: 02492874)

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


1. STATUTORY INFORMATION

David Smart & Associates 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 33.33% straight line on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

DAVID SMART & ASSOCIATES LIMITED (REGISTERED NUMBER: 02492874)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st June 2023 5,250 122,891 37,500 165,641
Disposals - - (37,500 ) (37,500 )
At 31st May 2024 5,250 122,891 - 128,141
DEPRECIATION
At 1st June 2023 5,215 121,514 23,258 149,987
Charge for year 8 195 1,725 1,928
Eliminated on disposal - - (24,983 ) (24,983 )
At 31st May 2024 5,223 121,709 - 126,932
NET BOOK VALUE
At 31st May 2024 27 1,182 - 1,209
At 31st May 2023 35 1,377 14,242 15,654

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 115,482 185,793
Other debtors 10,516 9,364
125,998 195,157

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 838 1,385
Taxation and social security 64,169 54,153
Other creditors 8,791 9,559
73,798 65,097