REGISTERED NUMBER: 11103113 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2024

for

Smartphone Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

J L McCarthy

G Tomlinson

REGISTERED OFFICE:

29a Crown Street

Brentwood

Essex

CM14 4BA

REGISTERED NUMBER:

11103113 (England and Wales)

ACCOUNTANTS:

Moulton Johnson Limited

Chartered Accountants

29a Crown Street

Brentwood

Essex

CM14 4BA

FIXED ASSETS

Intangible assets

4

3,518

4,222

Tangible assets

5

474

2,329

3,992

6,551

CURRENT ASSETS

Stocks

15,119

7,050

Debtors

6

98,325

69,239

Cash at bank and in hand

61,623

53,767

175,067

130,056

CREDITORS

Amounts falling due within one year

7

299,588

325,238

NET CURRENT LIABILITIES

(124,521

)

(195,182

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(120,529

)

(188,631

)

CREDITORS

Amounts falling due after more than one year

8

27,602

33,615

NET LIABILITIES

(148,131

)

(222,246

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(148,331

)

(222,446

)

(148,131

)

(222,246

)

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

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

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 21st August 2025 and were signed on its behalf by:

G Tomlinson - Director

1.	STATUTORY INFORMATION

Smartphone Group 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.	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.

The financial statements have been prepared using the going concern concept. The directors consider the use of this concept to be appropriate as the parent company intends to provide financial support to the company for the foreseeable future.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of ten years.

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

-

25% on cost and 20% on cost

Stocks

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st January 2024

and 31st December 2024

7,038

AMORTISATION

At 1st January 2024

2,816

Charge for year

704

At 31st December 2024

3,520

NET BOOK VALUE

At 31st December 2024

3,518

At 31st December 2023

4,222

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

25,413

Disposals

(905

)

At 31st December 2024

24,508

DEPRECIATION

At 1st January 2024

23,084

Charge for year

1,671

Eliminated on disposal

(721

)

At 31st December 2024

24,034

NET BOOK VALUE

At 31st December 2024

474

At 31st December 2023

2,329

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

22,203

23,407

Amounts owed by group undertakings

13,486

12,829

Other debtors

62,636

33,003

98,325

69,239

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

5,859

5,553

Trade creditors

99,750

109,508

Amounts owed to group undertakings

179,122

196,658

Taxation and social security

4,309

4,219

Other creditors

10,548

9,300

299,588

325,238

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

27,602

33,615

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

2,634

9,871

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

-

5,587

10.	RELATED PARTY DISCLOSURES

Taurus Insurance Services Limited

Parent Company

During the year the company paid commissions to Taurus Insurance Services Limited amounting to £33,242 (2023: £55,358).

During the year, the company sold goods to Taurus Insurance Services Limited amounting to £2,539,603 (2023: £2,015,691).

At the year-end, the amount due from the company to Taurus Insurance Services Limited amounted to £38,476 (2023: £50,375). During the year ended 31.12.23, Taurus Insurance Services Limited advanced an interest-free loan to the company. The amount outstanding on this loan at the year-end is £140,646 (2023: £146,283). This loan is repayable on demand.

D2C Management Solutions Limited

A company in which J. McCarthy is a director and shareholder.

During the year, D2C Management Solutions Limited recharged accommodation charges to the company amounting to £32,546 (2023: £31,400).

11.	ULTIMATE PARENT COMPANY

The ultimate parent company is Taurus Insurance Services Limited which is registered and trading in Gibraltar.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Smartphone Group Limited for the year ended 31st December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Smartphone Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Smartphone Group Limited and state those matters that we have agreed to state to the Board of Directors of Smartphone Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Smartphone Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Smartphone Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Smartphone Group Limited. You consider that Smartphone Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Smartphone Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moulton Johnson Limited

Chartered Accountants

29a Crown Street

Brentwood

Essex

CM14 4BA

11th September 2025