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Registered Number: 11131378
England and Wales

 

 

 

STREET SMART BUSINESS LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2024

End date: 28 February 2025
Directors Peter Street
Caroline Street
Registered Number 11131378
Registered Office 48
Harland Road
Southbourne
BH6 4DW
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 28 February 2025.
Directors
The directors who served the company throughout the year were as follows:
Peter Street
Caroline Street
Statement of directors' responsibilities
The directors are responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 (1a) and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
-select suitable accounting policies and then apply them consistently
-make judgements and estimates that are reasonable and prudent
-state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006.

The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board and signed on its behalf by:


----------------------------------
Peter Street
Director

Date approved: 30 May 2025
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of STREET SMART BUSINESS LTD for the year ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of STREET SMART BUSINESS LTD for the year ended 28 February 2025 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of STREET SMART BUSINESS LTD , as a body, in accordance with the terms of our engagement letter dated 30 May 2025. Our work has been undertaken solely to prepare for your approval the accounts of STREET SMART BUSINESS LTD and state those matters that we have agreed to state to the Board of Directors of STREET SMART BUSINESS LTD , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than STREET SMART BUSINESS LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that STREET SMART BUSINESS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of STREET SMART BUSINESS LTD . You consider that STREET SMART BUSINESS LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of STREET SMART BUSINESS LTD . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts


Marcus Gooch
Kimber William & Co Limited

Unit 8 (GF) Magellan Terrace
Gatwick Road
Gatwick
RH10 9PJ
30 May 2025
3
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 3 76,317    31,848 
76,317    31,848 
Current assets      
Debtors 4 10,196    960 
Cash at bank and in hand 5,760    68,825 
15,956    69,785 
Creditors: amount falling due within one year 5 (5,856)   (18,878)
Net current assets 10,100    50,907 
 
Total assets less current liabilities 86,417    82,755 
Provisions for liabilities 6 (14,500)   (7,967)
Net assets 71,917    74,788 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 71,907    74,778 
Shareholders' funds 71,917    74,788 
 


For the year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 May 2025 and were signed on its behalf by:


-------------------------------
Peter Street
Director
4
General Information
STREET SMART BUSINESS LTD is a private company, limited by shares, registered in England and Wales, registration number 11131378, registration address 48, Harland Road, Southbourne, BH6 4DW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2024 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 March 2024 6,065    59,253    65,318 
Additions   82,818    82,818 
Disposals   (59,253)   (59,253)
At 28 February 2025 6,065    82,818    88,883 
Depreciation
At 01 March 2024 3,524    29,926    33,450 
Charge for year 760    8,282    9,042 
On disposals   (29,926)   (29,926)
At 28 February 2025 4,284    8,282    12,566 
Net book values
Closing balance as at 28 February 2025 1,781    74,536    76,317 
Opening balance as at 01 March 2024 2,539    29,309    31,848 


4.

Debtors: amounts falling due within one year

2025
£
  2024
£
Prepayments & Accrued Income   20 
Corporation Tax 9,560   
9,560    20 

4.

Debtors: amounts falling due after one year

2025
£
  2024
£
Prepayments 636    940 
636    940 

5.

Creditors: amount falling due within one year

2025
£
  2024
£
Corporation Tax   13,988 
PAYE & Social Security 105   
Directors' Current Accounts 5,278    1,978 
VAT 473    2,912 
5,856    18,878 

6.

Provisions for liabilities

2025
£
  2024
£
Deferred Tax 14,500    7,967 
14,500    7,967 

7.

Advances and Credits



Mr and Mrs Street
The following advances and credits subsisted with a Director during the years ended:

Current year (2025)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Mr and Mrs Street(502)172 1,648 (1,978)
-5021720164800-1978
Previous year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Mr and Mrs Street(40,314)39,812 (502)
-40314398120000-502
5