SmartTasking.com Limited
Registered number: 09679782
Statement of Financial Position
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,546 28,378
Financial assets 49 100
17,595 28,478
Current assets
Debtors 4 598,214 547,219
Cash at bank and in hand 56,127 170,515
654,341 717,734
Creditors: amounts falling due within one year 5 (561,763) (594,052)
Net current assets 92,578 123,682
Total assets less current liabilities 110,173 152,160
Creditors: amounts falling due after more than one year 6 (70,833) (126,582)
Provisions for liabilities (3,334) (7,095)
Net assets 36,006 18,483
Capital and reserves
Called up share capital 150 150
Profit and loss account 35,856 18,333
Shareholders' funds 36,006 18,483
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Niall Anderson
Director
Approved by the board on 25 September 2025
SmartTasking.com Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rendering of services and is recognised by reference to the stage of completion of contracts. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. All changes in fair value and impairment losses are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 24 21
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 48,871
At 31 December 2024 48,871
Depreciation
At 1 January 2024 20,493
Charge for the year 10,832
At 31 December 2024 31,325
Net book value
At 31 December 2024 17,546
At 31 December 2023 28,378
4 Debtors 2024 2023
£ £
Trade debtors 565,863 497,712
Prepayments 3,800 5,845
Accrued income 11,192 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 3,662 39,662
Other debtors 13,697 4,000
598,214 547,219
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 54,933 54,928
Trade creditors 424,295 390,732
Accruals 28,399 1,900
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 50
Corporation tax 7,006 47,760
Other taxes and social security costs 36,199 87,210
Other creditors 10,931 11,472
561,763 594,052
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 70,833 120,833
Obligations under finance lease and hire purchase contracts - 5,749
70,833 126,582
7 Other information
SmartTasking.com Limited is a private company limited by shares and incorporated in England. Its registered office is:
Office 4f 5b, Abbey House
282 Farnborough Road
Farnborough
Hampshire
GU14 7NA
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