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REGISTERED NUMBER: 15405921 (England and Wales)















Unaudited Financial Statements

FOR THE PERIOD

11 January 2024 to 31 March 2025

for

Smart Automotive MK Ltd

Smart Automotive MK Ltd (Registered number: 15405921)






Contents of the Financial Statements
FOR THE PERIOD 11 JANUARY 2024 TO 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smart Automotive MK Ltd

Company Information
FOR THE PERIOD 11 JANUARY 2024 TO 31 MARCH 2025







DIRECTOR: S J Archer





REGISTERED OFFICE: Office A
Icknield Way Farm Business Park
Tring Road, Eaton Bray
Dunstable
Bedfordshire
LU6 2JX





REGISTERED NUMBER: 15405921 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Smart Automotive MK Ltd (Registered number: 15405921)

Balance Sheet
31 MARCH 2025

Notes £    £   
FIXED ASSETS
Tangible assets 4 990,217

CURRENT ASSETS
Stocks 165,000
Debtors 5 521,620
Cash at bank 31,656
718,276
CREDITORS
Amounts falling due within one year 6 1,044,896
NET CURRENT LIABILITIES (326,620 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

663,597

CREDITORS
Amounts falling due after more than one year 7 (536,821 )

PROVISIONS FOR LIABILITIES (22,877 )
NET ASSETS 103,899

CAPITAL AND RESERVES
Called up share capital 200
Retained earnings 103,699
SHAREHOLDERS' FUNDS 103,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Smart Automotive MK Ltd (Registered number: 15405921)

Balance Sheet - continued
31 MARCH 2025


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 director and authorised for issue on 19 May 2025 and were signed by:





S J Archer - Director


Smart Automotive MK Ltd (Registered number: 15405921)

Notes to the Financial Statements
FOR THE PERIOD 11 JANUARY 2024 TO 31 MARCH 2025

1. STATUTORY INFORMATION

Smart Automotive MK Ltd 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 & machinery - 25% on reducing balance
Motor vehicles - 10% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Smart Automotive MK Ltd (Registered number: 15405921)

Notes to the Financial Statements - continued
FOR THE PERIOD 11 JANUARY 2024 TO 31 MARCH 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the period 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.


Smart Automotive MK Ltd (Registered number: 15405921)

Notes to the Financial Statements - continued
FOR THE PERIOD 11 JANUARY 2024 TO 31 MARCH 2025

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was 31 .

4. TANGIBLE FIXED ASSETS
Plant & Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
Additions 85,581 991,705 5,786 1,083,072
At 31 March 2025 85,581 991,705 5,786 1,083,072
DEPRECIATION
Charge for period 18,659 73,449 747 92,855
At 31 March 2025 18,659 73,449 747 92,855
NET BOOK VALUE
At 31 March 2025 66,922 918,256 5,039 990,217

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 454,673
Amounts owed by group undertakings 26,144
Other debtors 40,803
521,620

Smart Automotive MK Ltd (Registered number: 15405921)

Notes to the Financial Statements - continued
FOR THE PERIOD 11 JANUARY 2024 TO 31 MARCH 2025

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts (see note 8) 205,489
Trade creditors 64,767
Amounts owed to group undertakings 270,717
Taxation and social security 153,414
Other creditors 350,509
1,044,896

Hire purchase agreements are secured against the assets to which they relate. Loans are secured on a fixed and/or floating charge basis against the company.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Hire purchase contracts (see note 8) 536,821

Hire purchase agreements are secured against the assets to which they relate. Loans are secured on a fixed and/or floating charge basis against the company. All bank loans and hire purchase agreements are due for repayment within 5 years.

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire
purchase
contracts
£   
Net obligations repayable:
Within one year 205,489
Between one and five years 536,821
742,310

Non-cancellable operating leases
£   
Within one year 6,000
Between one and five years 24,000
30,000

Smart Automotive MK Ltd (Registered number: 15405921)

Notes to the Financial Statements - continued
FOR THE PERIOD 11 JANUARY 2024 TO 31 MARCH 2025

9. PENSION COMMITMENTS

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. The assets of the scheme are held separately from those of the company in an independently administered fund.

Contributions totalling £4,853 were payable to the fund at the balance sheet date and are included in other creditors.

10. RELATED PARTY DISCLOSURES

During the year, the Company acquired the trade and assets from it's wholly owned subsidiary, Smart Touch (MK) Limited.