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MUNRO SMITH ASSOCIATES LIMITED

Registered Number
10726550
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2025

MUNRO SMITH ASSOCIATES LIMITED
Company Information
for the year from 1 May 2024 to 30 April 2025

Directors

COLE, Rebecca Clare
SMITH, Katherine Heather

Registered Address

12 Caspian Close
Whiteley
Fareham
PO15 7BP

Registered Number

10726550 (England and Wales)
MUNRO SMITH ASSOCIATES LIMITED
Balance Sheet as at
30 April 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3533955
533955
Current assets
Debtors411,1288,919
Cash at bank and on hand45,70338,780
56,83147,699
Creditors amounts falling due within one year5(14,061)(15,235)
Net current assets (liabilities)42,77032,464
Total assets less current liabilities43,30333,419
Provisions for liabilities6(453)(409)
Net assets42,85033,010
Capital and reserves
Called up share capital120120
Profit and loss account42,73032,890
Shareholders' funds42,85033,010
The financial statements were approved and authorised for issue by the Board of Directors on 23 July 2025, and are signed on its behalf by:
COLE, Rebecca Clare
Director
SMITH, Katherine Heather
Director

Registered Company No. 10726550
MUNRO SMITH ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 30 April 2025

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 financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Revenue from rendering of services
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. 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 taxable income. Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or 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.
Deferred tax
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 or 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Reducing balance (%)Straight line (years)
Fixtures and fittings25-
Office Equipment-3
Trade and other debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade and other creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
2.Average number of employees

20252024
Average number of employees during the year22
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 May 246803,1523,832
Additions-452452
At 30 April 256803,6044,284
Depreciation and impairment
At 01 May 245052,3722,877
Charge for year44830874
At 30 April 255493,2023,751
Net book value
At 30 April 25131402533
At 30 April 24175780955
4.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables-2,308
Prepayments and accrued income11,1286,611
Total11,1288,919
5.Creditors: amounts due within one year

2025

2024

££
Taxation and social security5,9536,628
Other creditors8,1088,607
Total14,06115,235
6.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)453409
Total453409
7.Pension commitments
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
8.Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
9.Related party transactions
Included within other creditors is an amount owed to the directors of £8,608 (2024- £8,108). This amount is undated,unsecured, interest free and repayable on demand.