Smartsource Solutions Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 06729870 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

SMARTSOURCE SOLUTIONS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M A Cotton

REGISTERED OFFICE:

President Park

President Way

Sheffield

S4 7UR

REGISTERED NUMBER:

06729870 (England and Wales)

ACCOUNTANTS:

Sutton McGrath Hartley Limited

5 Westbrook Court

Sharrowvale Road

Sheffield

S11 8YZ

FIXED ASSETS

Intangible assets

4

1,739

3,639

Tangible assets

5

4,521

77,119

Investments

6

38,658

45,514

44,918

126,272

CURRENT ASSETS

Stocks

7

99,212

93,724

Debtors

8

209,273

194,016

Cash at bank

230,750

205,825

539,235

493,565

CREDITORS

Amounts falling due within one year

9

(313,672

)

(340,333

)

NET CURRENT ASSETS

225,563

153,232

TOTAL ASSETS LESS CURRENT LIABILITIES

270,481

279,504

PROVISIONS FOR LIABILITIES

11

(1,130

)

(19,280

)

NET ASSETS

269,351

260,224

CAPITAL AND RESERVES

Called up share capital

12

112

100

Retained earnings

269,239

260,124

269,351

260,224

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 May 2026 and were signed by:

Mr M A Cotton - Director

1.	STATUTORY INFORMATION

Smartsource Solutions 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.

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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, has been fully amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost, 25% on cost and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

At 1 September 2024

and 31 August 2025

40,000

9,500

49,500

AMORTISATION

At 1 September 2024

40,000

5,861

45,861

Charge for year

-

1,900

At 31 August 2025

40,000

7,761

47,761

NET BOOK VALUE

At 31 August 2025

-

1,739

At 31 August 2024

-

3,639

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2024

191,909

Additions

2,631

Disposals

(107,607

)

At 31 August 2025

86,933

DEPRECIATION

At 1 September 2024

114,790

Charge for year

11,100

Eliminated on disposal

(43,478

)

At 31 August 2025

82,412

NET BOOK VALUE

At 31 August 2025

4,521

At 31 August 2024

77,119

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 September 2024

45,514

Disposals

(6,856

)

At 31 August 2025

38,658

NET BOOK VALUE

At 31 August 2025

38,658

At 31 August 2024

45,514

7.

STOCKS

2025

2024

£

Stocks

99,212

93,724

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

154,176

131,282

Amounts owed by group undertakings

7,279

2,852

Other debtors

1,653

1,805

Directors' current accounts

32,444

47,840

Prepayments

13,721

10,237

209,273

194,016

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Hire purchase contracts (see note 10)

-

61,565

Trade creditors

138,230

135,998

Amounts owed to group undertakings

-

1,465

Tax

49,062

37,447

Social security and other taxes

4,233

4,938

VAT

23,167

19,966

Other creditors

15,874

13,791

Directors' current accounts

3,200

2,080

Accrued expenses

79,906

63,083

313,672

340,333

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

Net obligations repayable:

Within one year

-

61,565

Non-cancellable

operating leases

2025

2024

£

Within one year

15,653

Between one and five years

13,269

28,922

44,575

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

1,130

19,280

Deferred

tax

£

Balance at 1 September 2024

19,280

Provided during year

(18,150

)

Balance at 31 August 2025

1,130

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid;

Number

Class

Nominal Value

2025£

2024£

51

Ordinary A

£1

51

24

Ordinary B

£1

24

15

Ordinary C

£1

15

10

Ordinary D

£1

10

12

Ordinary E

£1

12

-

112

100

13.	RELATED PARTY DISCLOSURES

The following companies are related parties as they are under common control of one or both of the directors:

Bardon Environmental Limited

During the year the company made sales of £511 (2024: £NIL), and no purchases (2024: £NIL) with Bardon Environmental Limited. As at 31 August 2025 £2,852 (2024: £2,852) was owed to the company by Bardon Environmental Limited.

Asset Go Solutions Ltd

Asset Go Solutions Ltd is under the common control of Mr M Cotton. During the year, the company made no purchases with Smartsource Solutions Ltd (2024:£Nil). As at 31 August 2024 £Nil (2023: £NIL) was owed by the company to Asset Go Solutions.

Hygiene UK Ltd

During the year the company made sales of £NIL (2023: £NIL) and purchases of £NIL (2023:£NIL) with Hygiene UK Ltd. As at 31 August 2024 £4,427 was owed from Hygiene UK Ltd (2024: £2,099 owed to) to the company.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M A Cotton.