Smart Firm Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08295788 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th November 2024

for

Smart Firm Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

D M Cooch

D Hall

B Cardozo

REGISTERED OFFICE:

Suite R Whitegates Business Centre

Alexander Lane

Shenfield

Essex

CM15 8QF

REGISTERED NUMBER:

08295788 (England and Wales)

ACCOUNTANTS:

Moulton Johnson Limited

Chartered Accountants

29a Crown Street

Brentwood

Essex

CM14 4BA

FIXED ASSETS

Tangible assets

4

375,846

279,793

CURRENT ASSETS

Stocks

20,000

25,000

Debtors

5

1,353,037

935,507

Cash at bank

106,786

334,665

1,479,823

1,295,172

CREDITORS

Amounts falling due within one year

6

1,372,936

1,201,949

NET CURRENT ASSETS

106,887

93,223

TOTAL ASSETS LESS CURRENT
LIABILITIES

482,733

373,016

CREDITORS

Amounts falling due after more than one
year

7

(317,998

)

(71,168

)

PROVISIONS FOR LIABILITIES

(3,533

)

-

NET ASSETS

161,202

301,848

CAPITAL AND RESERVES

Called up share capital

4

Retained earnings

161,198

301,844

161,202

301,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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 8th October 2025 and were signed on its behalf by:

D M Cooch - Director

1.	STATUTORY INFORMATION

Smart Firm 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.

Revenue recognition

Turnover is based on the sales value of work performed during the year by reference to the total sales value and the stage of completion of each contracts and excludes Value Added Tax.

The amount by which turnover is in excess of payments on account is classified as 'amounts recoverable on contracts' and is separately disclosed within debtors.

This represents a change of accounting policy during the year. The amounts shown as revenue and work in progress in the previous year's accounts have been restated to reflect this change of policy.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 15 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st December 2023

721,481

Additions

227,560

Disposals

(182,307

)

At 30th November 2024

766,734

DEPRECIATION

At 1st December 2023

441,688

Charge for year

112,084

Eliminated on disposal

(162,884

)

At 30th November 2024

390,888

NET BOOK VALUE

At 30th November 2024

375,846

At 30th November 2023

279,793

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st December 2023

447,682

Additions

218,996

Disposals

(34,530

)

At 30th November 2024

632,148

DEPRECIATION

At 1st December 2023

171,933

Charge for year

118,830

Eliminated on disposal

(15,107

)

At 30th November 2024

275,656

NET BOOK VALUE

At 30th November 2024

356,492

At 30th November 2023

275,749

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

a

s

restated

£

Trade debtors

449,022

360,715

Amounts recoverable on contracts

732,494

466,654

Other debtors

171,521

108,138

1,353,037

935,507

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

a

s

restated

£

Bank loans and overdrafts

10,648

-

Hire purchase contracts (see note 8)

89,824

-

Trade creditors

610,374

1,002,420

Taxation and social security

146,571

-

Other creditors

515,519

199,529

1,372,936

1,201,949

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.11.24

30.11.23

a

s

restated

£

Bank loans

5,776

71,168

Hire purchase contracts (see note 8)

312,222

-

317,998

71,168

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.11.24

30.11.23

as restated

£

Gross obligations repayable:

Within one year

119,249

-

Between one and five years

342,320

-

461,569

-

Finance charges repayable:

Within one year

29,425

-

Between one and five years

30,098

-

59,523

-

Net obligations repayable:

Within one year

89,824

-

Between one and five years

312,222

-

402,046

-

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th November 2024 and 30th November 2023:

30.11.24

30.11.23

a

s

restated

£

D M Cooch

Balance outstanding at start of year

-

Amounts advanced

152,511

-

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

152,511

-

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 Smart Firm Limited for the year ended 30th November 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 Smart Firm 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 Smart Firm Limited and state those matters that we have agreed to state to the Board of Directors of Smart Firm 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 Smart Firm Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Smart Firm 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 Smart Firm Limited. You consider that Smart Firm 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 Smart Firm 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.

We draw your attention to notes 4 and 5 in the financial statements which discloses and explains the Exceptional Item and Prior Year adjustment resulting from differences identified within the financial statements relating to the year ended 30th November 2023. The amounts have been adjusted by way of a Prior Year Adjustment to ensure the financial statements for the year ended 30th November 2024 is correctly stated.

Moulton Johnson Limited

Chartered Accountants

29a Crown Street

Brentwood

Essex

CM14 4BA

8th October 2025