Company No: 06952536 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mr R Marcus
	Mrs J Marcus
	Mr T Marcus

REGISTERED OFFICE	253 Heywood Road
	Prestwich
	Manchester
	England
	M25 2QP
	United Kingdom

COMPANY NUMBER

06952536 (England and Wales)

CHARTERED ACCOUNTANTS	PM+M Solutions for Business LLP
	New Century House
	Greenbank Technology Park
	Challenge Way
	Blackburn
	BB1 5QB

	Note	2024		2023
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	8,530		6,446
		8,530		6,446
Current assets
Stocks		97,686		169,500
Debtors	5	85,733		19,983
Cash at bank and in hand		234,385		107,660
		417,804		297,143
Creditors: amounts falling due within one year	6	( 407,163)		( 375,332)
Net current assets/(liabilities)		10,641		(78,189)
Total assets less current liabilities		19,171		(71,743)
Creditors: amounts falling due after more than one year	7	( 15,528)		( 19,040)
Provision for liabilities		( 2,133)		( 1,637)
Net assets/(liabilities)		1,510		( 92,420)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		1,410		( 92,520 )
Total shareholders' funds/(deficit)		1,510		( 92,420)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Smile Telecoms Limited (registered number: 06952536) were approved and authorised for issue by the Board of Directors on 01 December 2025. They were signed on its behalf by:

Mr R Marcus Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Smile Telecoms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 253 Heywood Road, Prestwich, Manchester, England, M25 2QP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment

20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expenses in the period in which the related service is provided. Prepaid contributions are recognised as an asset to extent that the prepayment will lead to a reduction in future payments or cash refund.

2. Prior year adjustment

During the year, the company reviewed its revenue recognition policy for upfront commission received. Previously, such commission was recognised in full when received. Following this review, the company has determined that recognising commission over the period in which related services are provided gives a more appropriate presentation of income in accordance with FRS 102.

As a result, upfront commission income is now deferred and recognised over the expected service period. This change in accounting policy has been applied retrospectively, and the comparative figures have been restated accordingly.

		As previously reported		Adjustment		As restated
Year ended 31 December 2023		£		£		£
Deferred Income		0		221,041		221,041
Net Assets		152,661		(221,041)		(68,380)

3. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		4

4. Tangible assets

	Computer equipment		Total
	£		£
Cost
At 01 January 2024	50,774		50,774
Additions	3,541		3,541
At 31 December 2024	54,315		54,315
Accumulated depreciation
At 01 January 2024	44,328		44,328
Charge for the financial year	1,457		1,457
At 31 December 2024	45,785		45,785
Net book value
At 31 December 2024	8,530		8,530
At 31 December 2023	6,446		6,446

5. Debtors

	2024		2023
	£		£
Trade debtors	14,385		11,781
Corporation tax	15,260		0
Other debtors	56,088		8,202
	85,733		19,983

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	2,992		3,090
Trade creditors	29,665		57,054
Corporation tax	0		24,040
Other taxation and social security	54,021		18,227
Other creditors	320,485		272,921
	407,163		375,332

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	15,528		19,040

There are no amounts included above in respect of which any security has been given by the small entity.