Company No:
Contents
| DIRECTORS | J M Keats (Appointed 14 May 2024) |
| A Patel (Appointed 20 April 2024) |
| REGISTERED OFFICE | Hallswelle House |
| 1 Hallswelle Road | |
| England | |
| NW11 0DH | |
| London | |
| United Kingdom |
| COMPANY NUMBER | 15663971 (England and Wales) |
| AUDITOR | S&W Partners Audit Limited |
| Statutory Auditor | |
| 103 Colmore Row | |
| Birmingham | |
| B3 3AG |
| Note | 31.12.24 | |
| £ | ||
| Current assets | ||
| Debtors | 3 |
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| 48,445 | ||
| Creditors: amounts falling due within one year | 4 | (
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| Net current liabilities | (138,098) | |
| Total assets less current liabilities | (138,098) | |
| Net liabilities | (
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| Capital and reserves | ||
| Called-up share capital |
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| Profit and loss account | (
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| Total shareholder's deficit | (
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The financial statements have been prepared in accordance with provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements of SMA Wins Ltd (registered number:
|
J M Keats
Director |
The following principal accounting policies have been applied:
SMA Wins Ltd is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hallswelle House, 1 Hallswelle Road, London, England NW11 0DH and its registered number is 15663971. The Company was incorporated on 20 April 2024 and commenced trading on this date. These financial statements cover the period from incorporation to 31 December 2024.
*Basis of preparation of financial statements*
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The Directors of the immediate parent company, SMA, Inc., have confirmed in writing that they will provide the financial support necessary to enable the Company to continue as a going concern and meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.
The Directors have also received confirmation from the immediate parent company that amounts owed by SMA Wins Ltd will not be recalled for a period covering at least 12 months from the date of signing these financial statements.
Therefore the Directors consider it appropriate to prepare the financial statements on a going concern basis.
The Company's functional and presentational currency is GBP.
*Transactions and balances*
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Revenue from consulting services is recognised over time as the services are delivered, based on the proportion of work completed at the reporting date. This is typically measured using time incurred or milestones achieved, depending on the nature of the engagement.
Where services have been provided but not yet invoiced at the reporting date, the revenue is recognised and recorded as unbilled revenue within accrued income under current assets.
Advance payments received from clients are deferred and recognised as revenue when the related services are performed.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other receivables are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's trade and other receivables due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 cost, using the effective interest rate method.
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.
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.
| Period from 20.04.24 to 31.12.24 |
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| Number | |
| Monthly average number of persons employed by the Company during the period, including directors |
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| 31.12.24 | |
| £ | |
| Trade debtors |
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| Accrued income |
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| 31.12.24 | |
| £ | |
| Trade creditors |
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| Amounts owed to Group undertakings |
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| Accruals |
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| Other taxation and social security |
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The Company has taken advantage of the exemption available under Section 33 of FRS 102 and has not disclosed details of transactions or balances with other wholly-owned group companies.
The Company's immediate parent company is SMA, Inc., a company incorporated in Delaware, United States of America, by virtue of its ownership of 100% of the issued share capital in the Company.
The Company's ultimate parent Company is SMA Holdings, Inc., a company incorporated in Delaware, United States of America.
The audit report was signed by Stephen Drew (Senior Statutory Auditor) on behalf of S&W Partners Audit Limited.