Company registration number 9720167 (England and Wales)
SMART AUTOS (BANBURY) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
SMART AUTOS (BANBURY) LIMITED
COMPANY INFORMATION
Director
Mr G I Smith
Company number
9720167
Registered office
Moreton House
31 High Street
Buckingham
United Kingdom
MK18 1NU
Accountants
Xeinadin
Moreton House
31 High Street
Buckingham
Buckinghamshire
UK
MK18 1NU
SMART AUTOS (BANBURY) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SMART AUTOS (BANBURY) LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,400
18,805
Current assets
Stocks
875
875
Debtors
4
36,162
29,394
Cash at bank and in hand
131,781
131,957
168,818
162,226
Creditors: amounts falling due within one year
5
(52,721)
(56,493)
Net current assets
116,097
105,733
Total assets less current liabilities
130,497
124,538
Provisions for liabilities
(1,985)
(4,230)
Net assets
128,512
120,308
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
128,510
120,306
Total equity
128,512
120,308

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The financial statements were approved and signed by the director and authorised for issue on .........................
2026-02-10
..............................................
Mr G I Smith
Director
Company registration number 9720167 (England and Wales)
SMART AUTOS (BANBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -
1
Accounting policies
Company information

Smart Autos (Banbury) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Moreton House, 31 High Street, Buckingham, United Kingdom, MK18 1NU.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 accounts are presented in £ sterling.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

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.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on reducing balance
Computers
15% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Taxation

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

SMART AUTOS (BANBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
5
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2024
20,138
1,370
25,143
46,651
Additions
-
0
-
0
6,800
6,800
Disposals
-
0
-
0
(6,800)
(6,800)
At 31 August 2025
20,138
1,370
25,143
46,651
Depreciation and impairment
At 1 September 2024
14,988
984
11,874
27,846
Depreciation charged in the year
1,030
58
3,317
4,405
At 31 August 2025
16,018
1,042
15,191
32,251
Carrying amount
At 31 August 2025
4,120
328
9,952
14,400
At 31 August 2024
5,150
386
13,269
18,805
SMART AUTOS (BANBURY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
21,139
14,460
Other debtors
13,623
13,623
Prepayments and accrued income
1,400
1,311
36,162
29,394
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
6,080
8,321
Taxation and social security
29,718
29,154
Other creditors
16,923
19,018
52,721
56,493
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