REGISTERED NUMBER: 06505228 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

SMARTSEAL UK LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Directors:

Mr N F Blake

Mr N J Giannotti

Secretary:

Mr N F Blake

Registered office:

Unit 3

65 - 67 Cutlers Road

South Woodham Ferrers

Chelmsford

Essex

CM3 5WA

Registered number:

06505228 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Tangible assets

4

30,439

12,910

Investments

5

41,000

41,000

71,439

53,910

Current assets

Stocks

18,000

20,000

Debtors

6

1,492,644

1,475,546

Cash at bank

1,923,304

1,707,783

3,433,948

3,203,329

Creditors

Amounts falling due within one year

7

535,542

784,788

Net current assets

2,898,406

2,418,541

Total assets less current liabilities

2,969,845

2,472,451

Provisions for liabilities

9

7,610

2,453

Net assets

2,962,235

2,469,998

Capital and reserves

Called up share capital

10

100

100

Retained earnings

2,962,135

2,469,898

Shareholders' funds

2,962,235

2,469,998

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

Mr N F Blake - Director

1.	Statutory information

Smartseal UK Ltd 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer and office equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Operating lease commitments

Rental applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on the straight line basis over the lease term.

3.	Employees and directors

The average number of employees during the year was 18 (2024 - 18 ) .

4.	Tangible fixed assets

Fixtures

Computer

Plant and

and

Motor

and office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 February 2024

-

17,086

12,595

73,798

103,479

Additions

-

-

23,550

270

23,820

Disposals

-

-

(12,595

)

-

(12,595

)

At 31 January 2025

-

17,086

23,550

74,068

114,704

Depreciation

At 1 February 2024

-

10,025

11,739

68,805

90,569

Charge for year

-

1,059

1,110

3,480

5,649

Eliminated on disposal

(11,953

)

-

-

-

(11,953

)

At 31 January 2025

(11,953

)

11,084

12,849

72,285

84,265

Net book value

At 31 January 2025

11,953

6,002

10,701

1,783

30,439

At 31 January 2024

-

7,061

856

4,993

12,910

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 February 2024

and 31 January 2025

41,000

Net book value

At 31 January 2025

41,000

At 31 January 2024

41,000

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Other debtors

1,492,644

1,475,546

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

138,616

372,189

Taxation and social security

268,910

396,569

Other creditors

128,016

16,030

535,542

784,788

8.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

23,333

28,000

Between one and five years

-

23,333

23,333

51,333

9.	Provisions for liabilities

2025

2024

£

£

Deferred tax

7,610

2,453

Deferred tax

£

Balance at 1 February 2024

2,453

Charge to Statement of Income and Retained Earnings during year

5,157

Balance at 31 January 2025

7,610

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

11.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024:

2025

2024

£

£

Mr N J Giannotti

Balance outstanding at start of year

38,443

71,195

Amounts repaid

12,718

(32,752

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

51,161

38,443

Mr N F Blake

Balance outstanding at start of year

123,054

175,438

Amounts repaid

10,595

(52,384

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

133,649

123,054

12.	Related party disclosures

Included in other debtors due within one year is an amount of £1,261,055 (2023 - £21,261,055) due from Smartseal Property Investments Ltd, a company in which the directors have a material interest.