Corporate Smarts Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 12628073

		30 June 2025		31 May 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		4,879		4,852

			4,879		4,852
CURRENT ASSETS
Debtors	5	3,008		9,015
Cash at bank and in hand		4,564		2,298

		7,572		11,313
Creditors: Amounts Falling Due Within One Year	6	(9,231 )		(14,649 )

NET CURRENT ASSETS (LIABILITIES)			(1,659 )		(3,336 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,220		1,516

PROVISIONS FOR LIABILITIES
Deferred Taxation	7		-		(922 )

NET ASSETS			3,220		594

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			3,120		494

SHAREHOLDERS' FUNDS			3,220		594

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Corporate Smarts Ltd

Balance Sheet (continued)

As At 30 June 2025

For the period ending 30 June 2025 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

The financial statements were approved by the board of directors on 7 October 2025 and were signed on its behalf by:

Mr Steven Joseph Quinn

Director

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Corporate Smarts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12628073 . The registered office is 41 Barn Owl Close, Northampton, NN4 0UA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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 have been prepared under the historical cost convention. The principal accounting policies

adopted are set out below.

2.2. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal

course of business, and is shown net of VAT.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred

and costs to complete can be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

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:

Fixtures & Fittings	3 Years on straight line
Computer Equipment	20% on reducing balance

2.4. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.5. Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the

profit and loss account because it excludes items of income or expense that are taxable or deductible in other years

and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated

using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial

recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is

no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the

asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items

charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and

liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the

deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.6. Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

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Corporate Smarts Ltd

Notes to the Financial Statements (continued)

For the Period 1 June 2024 to 30 June 2025

3. Average Number of Employees

Average number of employees, including directors, during the period was: 2 (2024: 2)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 June 2024	-	7,275	7,275
Additions	1,644	737	2,381
Disposals	-	(2,000 )	(2,000 )

As at 30 June 2025	1,644	6,012	7,656

Depreciation
As at 1 June 2024	-	2,423	2,423
Provided during the period	-	1,479	1,479
Disposals	-	(1,125 )	(1,125 )

As at 30 June 2025	-	2,777	2,777

Net Book Value
As at 30 June 2025	1,644	3,235	4,879

As at 1 June 2024	-	4,852	4,852

5. Debtors

	30 June 2025	31 May 2024
	£	£
Due within one year
Trade debtors	2,000	6,000
VAT	1,008	722
Directors' loan accounts	-	2,293

	3,008	9,015

6. Creditors: Amounts Falling Due Within One Year

	30 June 2025	31 May 2024
	£	£
Corporation tax	850	4,733
Other taxes and social security	194	470
Capital on tap	3,479	7,871
Accruals and deferred income	-	1,575
Directors' loan accounts	4,708	-

	9,231	14,649

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Corporate Smarts Ltd

Notes to the Financial Statements (continued)

For the Period 1 June 2024 to 30 June 2025

7. Deferred Taxation

The provision for deferred tax is made up as follows:

	30 June 2025	31 May 2024
	£	£
Other timing differences	-	922

8. Share Capital

	30 June 2025	31 May 2024
Allotted, called up and fully paid	£	£
80 Ordinary A shares of £ 1.00 each	80	80
20 Ordinary B shares of £ 1.00 each	20	20

	100	100

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 June 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 June 2025
	£	£	£	£	£
Mr Steven Quinn	2,293	-	2,293	-	-

The directors' loan account was repaid within nine months of the year end

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