ACCOUNTS - Final Accounts preparation

Company registration number: 10156488

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	SMD CONCEPTS LIMITED


SMD CONCEPTS LIMITED REGISTERED NUMBER:10156488

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		1,493,868		1,680,833
			1,493,868		1,680,833
Current assets
Stocks		28,834		29,282
Debtors: amounts falling due within one year	5	520,850		541,956
Cash at bank and in hand		145,685		123,355
		695,369		694,593
Creditors: amounts falling due within one year	6	(759,698)		(739,323)
Net current liabilities			(64,329)		(44,730)
Total assets less current liabilities			1,429,539		1,636,103
Creditors: amounts falling due after more than one year	7		(2,351,667)		(2,361,667)

Net liabilities			(922,128)		(725,564)

Capital and reserves
Called up share capital	8	120,000	120,000
Profit and loss account		(1,042,128)	(845,564)
		(922,128)	(725,564)

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SMD CONCEPTS LIMITED REGISTERED NUMBER:10156488

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Kiran Bhojwani

Director

Date: 17 November 2025

The notes on pages 3 to 6 form part of these financial statements.

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SMD CONCEPTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

SMD Concepts 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

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis on the assumption that the company will continue to trade in the foreseeable future. The company directors having made appropriate enquiries consider that adequate resources exist for the company to continue in operational existence for the foreseeable future. The company has received confirmation from its parent of continued support to meet its liabilities as they fall due and has received similar confirmation from its ultimate parent company. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements.

2.3

Revenue

Turnover represents net invoiced food and drink sales from the Bombay Bustle restaurant. Turnover is recognised once the food and drink has been delivered to the customers and a sales transaction with the customer has been recognised using an EPOS system.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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SMD CONCEPTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Short-term leasehold property	-	7%	Straight line method
				Plant and machinery	-	7%	Straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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SMD CONCEPTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 35 (2024 - 33).

4.	Tangible fixed assets

	Short-term leasehold property	Plant and machinery	Total
	£	£	£
Cost or valuation
At 1 April 2024	2,330,476	827,835	3,158,311
Additions	22,540	15,447	37,987
At 31 March 2025	2,353,016	843,282	3,196,298
Depreciation
At 1 April 2024	1,102,189	375,289	1,477,478
Charge for the year on owned assets	167,420	57,532	224,952
At 31 March 2025	1,269,609	432,821	1,702,430
Net book value
At 31 March 2025	1,083,407	410,461	1,493,868
At 31 March 2024	1,228,287	452,546	1,680,833

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SMD CONCEPTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	70,456	68,936
Amounts owed by group undertakings	6,582	84,640
Other debtors	293,762	293,213
Prepayments and accrued income	150,050	95,167
	520,850	541,956

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	10,000	10,000
Trade creditors	259,085	158,804
Amounts owed to group undertakings	16,858	60,474
Corporation tax	4,948	96,392
Other taxation and social security	124,496	58,939
Other creditors	93,892	95,383
Accruals and deferred income	250,419	259,331
	759,698	739,323

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	1,667	11,667
Preference shares	2,350,000	2,350,000
	2,351,667	2,361,667

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

120,000 (2024 - 120,000) Ordinary shares of £1.00 each	120,000	120,000

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