REGISTERED NUMBER: 04769449 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Officesmart South West Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B Wilkinson

E P Barry

SECRETARY:

Mrs G C Barry

REGISTERED OFFICE:

Unit 1, Carn Brea Business Park

Wilson Way

REDRUTH

Cornwall

TR15 3RR

REGISTERED NUMBER:

04769449 (England and Wales)

ACCOUNTANTS:

Colin Truscott Accountancy Limited

9 Heron Close

Tresillian

Cornwall

TR2 4BH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

10,931

14,461

10,931

14,461

CURRENT ASSETS

Stocks

72,143

70,593

Debtors

6

192,780

126,453

Cash at bank and in hand

71,438

39,495

336,361

236,541

CREDITORS

Amounts falling due within one year

7

305,606

219,049

NET CURRENT ASSETS

30,755

17,492

TOTAL ASSETS LESS CURRENT LIABILITIES

41,686

31,953

PROVISIONS FOR LIABILITIES

2,352

2,761

NET ASSETS

39,334

29,192

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

38,334

28,192

39,334

29,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2025 and were signed on its behalf by:

B Wilkinson - Director

E P Barry - Director

1.	STATUTORY INFORMATION

Officesmart South West 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.

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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when the amount of revenue, stage of completion and costs incurred can be measured reliably.Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

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.

Plant and machinery etc

-

25% on reducing balance and 20% 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.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 11 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

30,000

AMORTISATION

At 1 April 2024

and 31 March 2025

30,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

36,099

148,940

185,039

DEPRECIATION

At 1 April 2024

36,099

134,479

170,578

Charge for year

-

3,530

3,530

At 31 March 2025

36,099

138,009

174,108

NET BOOK VALUE

At 31 March 2025

-

10,931

10,931

At 31 March 2024

-

14,461

14,461

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

179,927

115,087

Other debtors

10,372

10,372

Prepayments

2,481

994

192,780

126,453

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

154,646

82,721

Tax

19,470

16,266

Social security and other taxes

4,381

3,358

VAT

37,470

27,563

Other creditors

31,745

43,540

Directors' current accounts

55,014

42,814

Accruals and deferred income

2,880

2,787

305,606

219,049

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Smart Group South West Limited.