6 June 2023 v2025.13.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsexbrli:purexbrli:sharesiso4217:GBP149247062023-06-062024-06-30149247062024-06-3014924706bus:Director12023-06-062024-06-3014924706bus:RegisteredOffice2023-06-062024-06-3014924706core:WithinOneYear2024-06-3014924706core:RetainedEarningsAccumulatedLosses2024-06-301492470612023-06-062024-06-3014924706countries:EnglandWales2023-06-062024-06-3014924706bus:AuditExemptWithAccountantsReport2023-06-062024-06-3014924706bus:PrivateLimitedCompanyLtd2023-06-062024-06-3014924706bus:SmallEntities2023-06-062024-06-3014924706bus:FullAccounts2023-06-062024-06-30
Company registration number:
14924706
Smart One Engineering Ltd
Unaudited Financial Statements for the period ended
30 June 2024
Smart One Engineering Ltd
Officers and Professional Advisers
Period ended
30 June 2024
Director
Ozan Isyar
Registered office
17 Bedwell Close
Welwyn Garden City
AL7 3XH
United Kingdom
Accountant
Financial Consultants & Services Ltd
17 Coronation Close
Barkingside
Ilford
Essex
IG6 1DB
United Kingdom
Smart One Engineering Ltd
Director's Report
Period ended
30 June 2024
The director presents the report and the unaudited
financial statements
of the company for the period from 6 June 2023 to 30 June 2024.

Directors

The director who served the company during the period was as follows:
Ozan Isyar

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
25 February 2025
and signed on behalf of the board by:
Ozan Isyar
Director
Smart One Engineering Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Smart One Engineering Ltd
Period ended
30 June 2024
As described on the statement of financial position, the Board of Directors of
Smart One Engineering Ltd
are responsible for the preparation of the
financial statements
for the period ended
30 June 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Financial Consultants & Services Ltd
17 Coronation Close
Barkingside
Ilford
Essex
IG6 1DB
United Kingdom
Date:
28 February 2025
Smart One Engineering Ltd
Income Statement
Period ended
30 June 2024
Period from 6 Jun 2023 to 30 Jun 2024
£
Turnover
45,155
 
Cost of sales
(16,428
)
Gross profit
28,727
 
Administrative expenses
(8,177
)
Operating profit
20,550
 
Profit before tax
20,550
 
Tax on profit
(3,905
)
Profit for the financial period
16,645
 
The company has no other recognised items of income or expense other than the results for the period as set out above.
Smart One Engineering Ltd
Statement of Financial Position
30 June 2024
30 Jun 2024
Note£
Current assets  
Debtors 5
9,945
 
Cash at bank and in hand
10,355
 
20,300
 
Creditors: amounts falling due within one year 6
(4,955
)
Net current assets
15,345
 
Total assets less current liabilities 15,345  
Capital and reserves  
Profit and loss account
15,345
 
Shareholders funds
15,345
 
For the period ending
30 June 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
25 February 2025
, and are signed on behalf of the board by:
Ozan Isyar
Director
Company registration number:
14924706
Smart One Engineering Ltd
Notes to the Financial Statements
Period ended
30 June 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
17 Bedwell Close
,
Welwyn Garden City
,
AL7 3XH
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.
Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.
The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the period was
1
.

5 Debtors

30 Jun 2024
£
Trade debtors
6,525
 
Other debtors
3,420
 
9,945
 

6 Creditors: amounts falling due within one year

30 Jun 2024
£
Trade creditors
1,050
 
Taxation and social security
3,905
 
4,955