19 19 Smart Bar Enterprises Ltd 11478300 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is taxi service Digita Accounts Production Advanced 6.30.9574.0 true 11478300 2023-08-01 2024-07-31 11478300 2024-07-31 11478300 bus:OrdinaryShareClass1 2024-07-31 11478300 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-07-31 11478300 core:CurrentFinancialInstruments 2024-07-31 11478300 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 11478300 core:FurnitureFittingsToolsEquipment 2024-07-31 11478300 core:MotorVehicles 2024-07-31 11478300 bus:SmallEntities 2023-08-01 2024-07-31 11478300 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 11478300 bus:FilletedAccounts 2023-08-01 2024-07-31 11478300 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 11478300 bus:RegisteredOffice 2023-08-01 2024-07-31 11478300 bus:CompanySecretary1 2023-08-01 2024-07-31 11478300 bus:Director2 2023-08-01 2024-07-31 11478300 bus:Director3 2023-08-01 2024-07-31 11478300 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 11478300 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 11478300 bus:Agent1 2023-08-01 2024-07-31 11478300 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 11478300 core:MotorVehicles 2023-08-01 2024-07-31 11478300 countries:England 2023-08-01 2024-07-31 11478300 2023-07-31 11478300 core:FurnitureFittingsToolsEquipment 2023-07-31 11478300 core:MotorVehicles 2023-07-31 11478300 2022-08-01 2023-07-31 11478300 2023-07-31 11478300 bus:OrdinaryShareClass1 2023-07-31 11478300 core:CurrentFinancialInstruments 2023-07-31 11478300 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 11478300 core:FurnitureFittingsToolsEquipment 2023-07-31 11478300 core:MotorVehicles 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 11478300

Smart Bar Enterprises Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Smart Bar Enterprises Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Smart Bar Enterprises Ltd

Company Information

Directors

Mrs Shirley Anne Spicer

Mr Binumon Thankachan

Company secretary

Mr Ian Fountain

Registered office

8-10 Falcon Street
Ipswich
IP1 1SL

Accountants

Mark Booth, AIMS Accountants for Business The Lodge
The Street
Bedingfield
Eye
Suffolk
IP23 7LQ

 

Smart Bar Enterprises Ltd

(Registration number: 11478300)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

85,685

105,669

Other financial assets

5

2,421

2,421

 

88,106

108,090

Current assets

 

Debtors

6

196,341

212,252

Cash at bank and in hand

 

183,631

153,968

 

379,972

366,220

Creditors: Amounts falling due within one year

7

(222,135)

(341,018)

Net current assets

 

157,837

25,202

Net assets

 

245,943

133,292

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

245,941

133,290

Shareholders' funds

 

245,943

133,292

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 March 2025 and signed on its behalf by:
 

.........................................
Mr Ian Fountain
Company secretary

 

Smart Bar Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
8-10 Falcon Street
Ipswich
IP1 1SL

These financial statements were authorised for issue by the Board on 3 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Smart Bar Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2023 - 19).

 

Smart Bar Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

6,336

139,465

145,801

Additions

-

24,605

24,605

Disposals

-

(11,651)

(11,651)

At 31 July 2024

6,336

152,419

158,755

Depreciation

At 1 August 2023

993

39,139

40,132

Charge for the year

1,584

37,590

39,174

Eliminated on disposal

-

(6,236)

(6,236)

At 31 July 2024

2,577

70,493

73,070

Carrying amount

At 31 July 2024

3,759

81,926

85,685

At 31 July 2023

5,343

100,326

105,669

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

2,421

2,421

At 31 July 2024

2,421

2,421

Impairment

Carrying amount

At 31 July 2024

2,421

2,421

6

Debtors

 

Smart Bar Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Current

2024
£

2023
£

Trade debtors

192,008

208,289

Prepayments

3,333

3,333

Other debtors

1,000

630

 

196,341

212,252

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

4,955

1,389

Taxation and social security

131,611

125,438

Other creditors

85,569

214,191

222,135

341,018

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Related party transactions

 

Smart Bar Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

26,000

26,000