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REGISTERED NUMBER: 04527805 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Smart Office Systems Limited

Smart Office Systems Limited (Registered number: 04527805)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Smart Office Systems Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr J Behan
Mr G J Young
Mr A Skelton





REGISTERED OFFICE: Unit 356a Dukesway Court
Team Valley Trading Estate
Gateshead
Tyne and Wear
NE11 0BH





REGISTERED NUMBER: 04527805 (England and Wales)





ACCOUNTANTS: S&W Partners (Newcastle) Limited
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Smart Office Systems Limited (Registered number: 04527805)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 25,980 41,223

CURRENT ASSETS
Stocks 120,112 170,987
Debtors 6 385,341 340,188
Cash at bank and in hand 36,071 65,301
541,524 576,476
CREDITORS
Amounts falling due within one year 7 (339,936 ) (337,332 )
NET CURRENT ASSETS 201,588 239,144
TOTAL ASSETS LESS CURRENT
LIABILITIES

227,568

280,367

CREDITORS
Amounts falling due after more than one
year

8

(22,694

)

(69,792

)

PROVISIONS FOR LIABILITIES (10,129 ) (10,129 )
NET ASSETS 194,745 200,446

CAPITAL AND RESERVES
Called up share capital 999 999
Profit and loss account 193,746 199,447
SHAREHOLDERS' FUNDS 194,745 200,446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:




Mr J Behan - Director



Mr G J Young - Director


Smart Office Systems Limited (Registered number: 04527805)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Smart Office Systems Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The company provides supply, installation and maintenance services for office equipment.

Turnover is measured at the fair value of the consideration received or receivable stated net of discounts and value added tax.

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

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 3.33% on cost
Fixtures and fittings - 33% on cost and 15% on reducing balance
Motor vehicles - 33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is calculated on a first in, first out basis.


Smart Office Systems Limited (Registered number: 04527805)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Foreign currencies
Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

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.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023
and 30 September 2024 38,300 63,765 22,799 124,864
DEPRECIATION
At 1 October 2023 1,192 59,650 22,799 83,641
Charge for year 12,766 2,477 - 15,243
At 30 September 2024 13,958 62,127 22,799 98,884
NET BOOK VALUE
At 30 September 2024 24,342 1,638 - 25,980
At 30 September 2023 37,108 4,115 - 41,223

Smart Office Systems Limited (Registered number: 04527805)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 304,991 242,357
Other debtors 80,350 97,831
385,341 340,188

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,736 52,690
Trade creditors 172,283 184,008
Taxation and social security 92,578 80,885
Other creditors 44,339 19,749
339,936 337,332

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 30,736
Hire purchase contracts (see note 9) 22,694 39,056
22,694 69,792

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Between one and five years 22,694 39,056

Non-cancellable operating leases
2024 2023
£    £   
Within one year 43,427 44,178
Between one and five years 14,476 61,932
57,903 106,110