2023-12-012024-11-302024-11-30false10475941Smartimages 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Smartimages Ltd

Registered Number
10475941
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

Smartimages Ltd
Company Information
for the year from 1 December 2023 to 30 November 2024

Director

Mr S R Smart

Registered Address

52 Upton Towans
Hayle
TR27 5BL

Registered Number

10475941 (England and Wales)
Smartimages Ltd
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,1675,567
4,1675,567
Current assets
Debtors43,689-
Cash at bank and on hand8,21914,653
11,90814,653
Creditors amounts falling due within one year5(6,963)(7,004)
Net current assets (liabilities)4,9457,649
Total assets less current liabilities9,11213,216
Provisions for liabilities(1,030)(1,420)
Net assets8,08211,796
Capital and reserves
Called up share capital101101
Profit and loss account7,98111,695
Shareholders' funds8,08211,796
The financial statements were approved and authorised for issue by the Director on 5 March 2025, and are signed on its behalf by:
Mr S R Smart
Director
Registered Company No. 10475941
Smartimages Ltd
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Current 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 balancesheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different fromthose in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws thathave been enacted or substantively enacted by the year end and that are expected to apply to the reversal of thetiming 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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Vehicles25-
Office Equipment-3
Related parties
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions where they have occurred under normal market conditions.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 December 2343,492
At 30 November 2443,492
Depreciation and impairment
At 01 December 2337,925
Charge for year1,400
At 30 November 2439,325
Net book value
At 30 November 244,167
At 30 November 235,567
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables3,689-
Total3,689-
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables19090
Bank borrowings and overdrafts4,3404,051
Taxation and social security2,2982,757
Accrued liabilities and deferred income135106
Total6,9637,004
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr S R Smart524,2894,000341
524,2894,000341
7.Controlling party
The company is under the control of its directors Mr S R Smart, by virtue of his shareholding.