REGISTERED NUMBER: 06456969 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

SMITH SYSTEM EMEA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A DOUGLAS

D W Dunaway

C Stasi

SECRETARY:

Ms S Poole

REGISTERED OFFICE:

Devonshire House

Manor Way

Borehamwood

Hertfordshire

WD6 1QQ

REGISTERED NUMBER:

06456969 (England and Wales)

ACCOUNTANTS:

Gynch Shaw Maurice & Co

Chartered Certified Accountants

Rear of No 2

SPM House

Glenthorne Road

Friern Barnet

London

N11 3HT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,688

3,882

3,688

3,882

CURRENT ASSETS

Debtors

6

245,099

216,154

Cash at bank and in hand

103,826

86,393

348,925

302,547

CREDITORS

Amounts falling due within one year

7

65,985

53,901

NET CURRENT ASSETS

282,940

248,646

TOTAL ASSETS LESS CURRENT LIABILITIES

286,628

252,528

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

285,628

251,528

SHAREHOLDERS' FUNDS

286,628

252,528

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.

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 22 September 2025 and were signed on its behalf by:

D W Dunaway - Director

1.	STATUTORY INFORMATION

SMITH SYSTEM EMEA 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.

Turnover

Turnover represents net invoiced of income from providing commercial training courses for drivers of vehicle conveying dangerous goods, excluding Value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% on reducing balance

Computer equipment - 20% on reducing balance

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

100,000

AMORTISATION

At 1 January 2024

and 31 December 2024

100,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

23,411

DEPRECIATION

At 1 January 2024

19,529

Charge for year

194

At 31 December 2024

19,723

NET BOOK VALUE

At 31 December 2024

3,688

At 31 December 2023

3,882

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

151,723

122,778

Other debtors

93,376

93,376

245,099

216,154

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

4,684

4,811

Taxation and social security

57,801

45,840

Other creditors

3,500

3,250

65,985

53,901

8.	CONTINGENT LIABILITIES

There were no contingent liabilities during the financial year ending 31st December 2024.

9.	CAPITAL COMMITMENTS

The company pays a monthly rent of £3,100.

10.	RELATED PARTY DISCLOSURES

The company owed Smith Holding Corporation, the parent company, a balance of £89,476 at 31 December 2023. At end of the current financial year, Smith Holding Corporation owed the company remained at £89,476 which is included in Other Debtors.

11.	POST BALANCE SHEET EVENTS

There were no post Balance Sheet events under review for this financial year.