REGISTERED NUMBER: SC504769 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

SMART CUISINE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A I Smart

REGISTERED OFFICE:

5 Deeside Lane

Aberdeen

AB12 5UG

REGISTERED NUMBER:

SC504769 (Scotland)

ACCOUNTANTS:

Fyfe Moir & Associates

1st Floor, 5 Abercrombie Crt

Prospect Road,

Westhill

Aberdeenshire

Grampian

AB32 6FE

FIXED ASSETS

Intangible assets

4

1,875

4,375

Tangible assets

5

133,384

143,589

135,259

147,964

CURRENT ASSETS

Stocks

9,475

8,271

Debtors

6

4,036

10,115

Cash at bank and in hand

29,467

14,304

42,978

32,690

CREDITORS

Amounts falling due within one year

7

126,581

59,790

NET CURRENT LIABILITIES

(83,603

)

(27,100

)

TOTAL ASSETS LESS CURRENT LIABILITIES

51,656

120,864

CREDITORS

Amounts falling due after more than one year

8

(20,000

)

(94,532

)

PROVISIONS FOR LIABILITIES

10

(1,901

)

(3,828

)

NET ASSETS

29,755

22,504

CAPITAL AND RESERVES

Called up share capital

11

200

200

Retained earnings

12

29,555

22,304

SHAREHOLDERS' FUNDS

29,755

22,504

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 director acknowledges his 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 director and authorised for issue on 26 September 2025 and were signed by:

A I Smart - Director

A J Smart - Director

1.	STATUTORY INFORMATION

Smart Cuisine 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.

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, 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.

Improvements to property

-

12.5% on cost and 10% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

25,000

AMORTISATION

At 1 January 2024

20,625

Amortisation for year

2,500

At 31 December 2024

23,125

NET BOOK VALUE

At 31 December 2024

1,875

At 31 December 2023

4,375

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

Plant and

and

property

property

machinery

fittings

Totals

£

£

£

£

£

COST

At 1 January 2024

123,090

34,605

53,719

1,775

213,189

Additions

-

-

1,387

60

1,447

Disposals

-

-

(19,682

)

(359

)

(20,041

)

At 31 December 2024

123,090

34,605

35,424

1,476

194,595

DEPRECIATION

At 1 January 2024

-

27,774

40,669

1,157

69,600

Charge for year

-

4,073

3,544

181

7,798

Eliminated on disposal

-

-

(15,845

)

(342

)

(16,187

)

At 31 December 2024

-

31,847

28,368

996

61,211

NET BOOK VALUE

At 31 December 2024

123,090

2,758

7,056

480

133,384

At 31 December 2023

123,090

6,831

13,050

618

143,589

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

3,257

8,641

Tax

-

884

Prepayments

779

590

4,036

10,115

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

-

13,300

Trade creditors

21,517

19,786

Tax

4,177

-

Social security and other taxes

577

4,051

VAT

15,671

11,699

Other creditors

1,008

945

Directors' current accounts

76,039

2,689

Accrued expenses

7,592

7,320

126,581

59,790

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

-

13,300

Bank loans - 2-5 years

-

39,900

Bank loans more 5 yr by instal

-

21,332

Directors' loan accounts

20,000

20,000

20,000

94,532

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

21,332

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

A floating charge was created on the 28th July 2015 in favour of the The Royal Bank of Scotland PLC which covers all the property or undertaking of the company.

10.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

1,901

3,828

Deferred

tax

£

Balance at 1 January 2024

3,828

Movement in year

(1,927

)

Balance at 31 December 2024

1,901

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

5,000

Ordinary

4p

200

200

12.

RESERVES

Retained

earnings

£

At 1 January 2024

22,304

Profit for the year

7,251

At 31 December 2024

29,555