Smart IT Support Ltd

	Page
Company Information	1
Directors' Report	2
Accountant's Report	3
Profit and Loss Account	4
Balance Sheet	5—6
Notes to the Financial Statements	7—10

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Company No. 06550863

Directors' Report For The Year Ended 31 March 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors

The directors who held office during the year were as follows:

Mr Tony Wilson
Mr Jon Proud
Mr Shaun Simpson
Mr Darryl Robinson	Appointed	01/04/2025

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

On behalf of the board

Mr Tony Wilson

Director

21/11/2025

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Smart IT Support Ltd

Accountant's Report

For The Year Ended 31 March 2025

Accountant's Report

In accordance with the engagement letter dated 07 January 2025, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.

You have acknowledged on the balance sheet as at year ended 31 March 2025 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.

21/11/2025

Newton and Co

CPA

Jarrow Business Centre

Viking Industrial Park

Jarrow

Tyne and Wear

NE32 3DT

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Smart IT Support Ltd

Profit and Loss Account

For The Year Ended 31 March 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER		2,648,809	2,538,818
Cost of sales		(824,124 )	(812,673 )

GROSS PROFIT		1,824,685	1,726,145

Administrative expenses		(1,573,402 )	(1,491,938 )
Fair value losses on investment properties		-	(13,198 )

OPERATING PROFIT		251,283	221,009
(Loss)/profit on disposal of fixed assets		(3,175 )	470
Other interest receivable and similar income		323	5,633
Interest payable and similar charges		-	(610 )

PROFIT BEFORE TAXATION		248,431	226,502
Tax on Profit		(57,641 )	(61,205 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		190,790	165,297

The notes on pages 7 to 10 form part of these financial statements.

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Smart IT Support Ltd

Balance Sheet

As At 31 March 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		71,137		86,275
Investment Properties	6		300,000		300,000

			371,137		386,275
CURRENT ASSETS
Stocks	7	16,000		30,000
Debtors	8	527,194		446,270
Cash at bank and in hand		403,117		376,732

		946,311		853,002
Creditors: Amounts Falling Due Within One Year	9	(456,022 )		(427,708 )

NET CURRENT ASSETS (LIABILITIES)			490,289		425,294

TOTAL ASSETS LESS CURRENT LIABILITIES			861,426		811,569

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(9,867 )

NET ASSETS			861,426		801,702

CAPITAL AND RESERVES
Called up share capital	10		11		11
Profit and Loss Account			861,415		801,691

SHAREHOLDERS' FUNDS			861,426		801,702

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Smart IT Support Ltd

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 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 in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr Tony Wilson

Director

21/11/2025

The notes on pages 7 to 10 form part of these financial statements.

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Smart IT Support Ltd

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Smart IT Support Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06550863 . The registered office is Unit D Marquis Court, Team Valley, Gateshead, Newcastle Upon Tyne, NE11 0RU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	20% Reducing Balance
Computer Equipment	25% Reducing Balance

2.5. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.6. 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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Smart IT Support Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 37 (2024: )

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	8,000

As at 31 March 2025	8,000

Amortisation
As at 1 April 2024	8,000

As at 31 March 2025	8,000

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	68,418	130,898	27,796	32,478	259,590
Additions	-	8,209	751	3,558	12,518
Disposals	-	(6,899 )	-	-	(6,899 )

As at 31 March 2025	68,418	132,208	28,547	36,036	265,209

...CONTINUED

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Smart IT Support Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	60,825	72,545	17,686	22,259	173,315
Provided during the period	1,519	15,347	2,172	3,444	22,482
Disposals	-	(1,725 )	-	-	(1,725 )

As at 31 March 2025	62,344	86,167	19,858	25,703	194,072

Net Book Value
As at 31 March 2025	6,074	46,041	8,689	10,333	71,137

As at 1 April 2024	7,593	58,353	10,110	10,219	86,275

6. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	300,000

7. Stocks

	2025	2024
	£	£
Finished goods	12,000	15,000
Work in progress	4,000	15,000

	16,000	30,000

8. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	207,031	132,112
Amounts owed by participating interests	-	313,214
Other debtors	320,163	944

	527,194	446,270

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	128,140	120,458
Amounts owed to participating interests	-	36,083
Other creditors	89,843	54,681
Taxation and social security	238,039	216,486

	456,022	427,708

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	11	11

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Smart IT Support Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Jon Proud	1	-	-	-	1
Mr Shaun Simpson	1	-	-	-	1

The above loan is unsecured, interest free and repayable on demand.

12. Related Party Transactions

The following amounts were outstanding at the reporting end date:

Amounts due to related parties

Smartstack Limited: 2025 - £72,975 2024 - £36,083

Amounts due from related parties

Smart Office Technology Limited: 2025 - £82,042 2024 - £48,423

Smartstack Limited : 2025 - £0 2024 - £1,000

Whickham Property Limited: 2025 - £222,825 2024 - £264,791

Whickham Property Limited, Smart Office Technology Limited and Smartstack Limited are under the ultimate

control of the same company or person or persons as Smart IT Support Limited.

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