Company registration number 06992310 (England and Wales)
SMEXPAND LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2024
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
SMEXPAND LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SMEXPAND LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
31 July 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
4,347
Tangible assets
4
69,630
82,667
Investments
5
53,795
127,772
82,667
Current assets
Debtors
6
199,391
108,615
Cash at bank and in hand
311,926
115,579
511,317
224,194
Creditors: amounts falling due within one year
7
(390,964)
(126,123)
Net current assets
120,353
98,071
Total assets less current liabilities
248,125
180,738
Provisions for liabilities
(17,407)
(15,049)
Net assets
230,718
165,689
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
230,618
165,589
Total equity
230,718
165,689
SMEXPAND LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 26 August 2025
Mr A Birrell
Director
Company registration number 06992310 (England and Wales)
SMEXPAND LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
SMEXPAND Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.
On 12 October 2023 the company changed its name from SME Project Management Services Limited to SMEXPAND Ltd.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Reporting period
The accounting period has been extended from 31 July to 31 December to align with the company's wholly owned subsidiary. As such comparative amounts presented in the financial statements (including the related notes) are not entirely comparable
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 3 years.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Trade Marks
10% straight line
SMEXPAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% straight line
Fixtures and fittings
25% straight line
Computers
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.7
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.8
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
1.9
Financial instruments
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 any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
SMEXPAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.12
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
3
2
3
Intangible fixed assets
Goodwill
Trade Marks
Total
£
£
£
Cost
At 1 August 2023
12,500
12,500
Additions
4,830
4,830
At 31 December 2024
12,500
4,830
17,330
Amortisation and impairment
At 1 August 2023
12,500
12,500
Amortisation charged for the period
483
483
At 31 December 2024
12,500
483
12,983
Carrying amount
At 31 December 2024
4,347
4,347
At 31 July 2023
SMEXPAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 August 2023
235,863
22,186
16,050
274,099
Additions
14,782
122
14,918
29,822
At 31 December 2024
250,645
22,308
30,968
303,921
Depreciation and impairment
At 1 August 2023
160,958
18,427
12,047
191,432
Depreciation charged in the period
31,624
3,789
7,446
42,859
At 31 December 2024
192,582
22,216
19,493
234,291
Carrying amount
At 31 December 2024
58,063
92
11,475
69,630
At 31 July 2023
74,905
3,759
4,003
82,667
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
49,565
Loans to group undertakings and participating interests
4,230
53,795
Movements in fixed asset investments
Shares in subsidiaries
Loans to subsidiaries
Total
£
£
£
Cost or valuation
At 1 August 2023
-
-
-
Additions
49,565
4,230
53,795
At 31 December 2024
49,565
4,230
53,795
Carrying amount
At 31 December 2024
49,565
4,230
53,795
At 31 July 2023
-
-
-
SMEXPAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
113,378
48,666
Other debtors
86,013
59,949
199,391
108,615
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
68,781
613
Taxation and social security
79,964
17,756
Other creditors
242,219
107,754
390,964
126,123