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REGISTERED NUMBER: SC240862 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SMARTSEAL LIMITED

SMARTSEAL LIMITED (REGISTERED NUMBER: SC240862)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMARTSEAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: J O'Brien
Mrs A O'Brien





SECRETARY: Mrs A O'Brien





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC240862 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

SMARTSEAL LIMITED (REGISTERED NUMBER: SC240862)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 83,179 82,372

CURRENT ASSETS
Stocks 27,618 43,490
Debtors 5 136,056 73,975
Cash at bank 114,140 156,414
277,814 273,879
CREDITORS
Amounts falling due within one year 6 82,761 64,962
NET CURRENT ASSETS 195,053 208,917
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,232

291,289

CREDITORS
Amounts falling due after more than one
year

7

(70,038

)

(64,708

)

PROVISIONS FOR LIABILITIES (20,795 ) -
NET ASSETS 187,399 226,581

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 187,297 226,479
SHAREHOLDERS' FUNDS 187,399 226,581

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

SMARTSEAL LIMITED (REGISTERED NUMBER: SC240862)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:





J O'Brien - Director


SMARTSEAL LIMITED (REGISTERED NUMBER: SC240862)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Smartseal Limited is a private company, limited by shares , registered in Scotland. 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. 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 represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on despatch of goods.

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 etc - 33% on a straight line basis, 25% on a reducing balance basis and 25% on a straight line basis

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


SMARTSEAL LIMITED (REGISTERED NUMBER: SC240862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

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 year 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.

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.

Leasing commitments
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the agreement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 144,426
Additions 48,310
Disposals (39,969 )
At 31 December 2024 152,767
DEPRECIATION
At 1 January 2024 62,054
Charge for year 28,201
Eliminated on disposal (20,667 )
At 31 December 2024 69,588
NET BOOK VALUE
At 31 December 2024 83,179
At 31 December 2023 82,372

SMARTSEAL LIMITED (REGISTERED NUMBER: SC240862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 56,345 69,439
Other debtors 79,711 4,536
136,056 73,975

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 28,584 17,712
Trade creditors 28,685 25,273
Taxation and social security 14,337 7,549
Other creditors 11,155 14,428
82,761 64,962

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 70,038 64,708