SMR SUPPLIES LIMITED

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

SMR SUPPLIES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 08658123 . The registered office is Stanhope House Mark Rake, Bromborough, Wirral, Merseyside, CH62 2DN .

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

2.2. Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

2.3. 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:

Fixtures & Fittings	15% Reducing Balance
Computer Equipment	33% Cost

2.4. 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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SMR SUPPLIES LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 27 August 2025

2.5. Financial Instruments

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are classified as basic instruments and are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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SMR SUPPLIES LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 27 August 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.

2.8. Investments

Investments are recognised as a tangible fixed asset and measured at cost less impairment. The company does not depreciate these assets due to their enduring value and lack of predictable useful life.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

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SMR SUPPLIES LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 27 August 2025

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 28 August 2024	18,571	6,462	25,033
Additions	1,050	816	1,866

As at 27 August 2025	19,621	7,278	26,899

Depreciation
As at 28 August 2024	13,848	4,692	18,540
Provided during the period	2,553	1,307	3,860

As at 27 August 2025	16,401	5,999	22,400

Net Book Value
As at 27 August 2025	3,220	1,279	4,499

As at 28 August 2024	4,723	1,770	6,493

5. Investments

	Unlisted
	£
Cost or Valuation
As at 28 August 2024	44,500

As at 27 August 2025	44,500

Provision
As at 28 August 2024	-

As at 27 August 2025	-

Net Book Value
As at 27 August 2025	44,500

As at 28 August 2024	44,500

6. Stocks

	2025	2024
	£	£
Finished goods	1,171,737	1,683,321

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SMR SUPPLIES LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 27 August 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	624,340	463,509
Prepayments and accrued income	49,383	38,462
Other debtors	-	15,343
Corporation tax recoverable assets	199,078	179,614
VAT	9,995	-
Director's loan account	673,320	535,647

	1,556,116	1,232,575

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	2,519,571	2,508,928
Bank loans and overdrafts	19,468	66,411
Corporation tax	265,136	231,097
VAT	-	41,106
Other creditors	-	133,452
Accruals and deferred income	2,203	2,204

	2,806,378	2,983,198

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	19,015

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	300	300

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SMR SUPPLIES LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 27 August 2025

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 28 August 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 27 August 2025
	£	£	£	£	£
Mr Sharif Rashid	535,647	233,605	95,932	-	673,320

The above loan is unsecured, interest has been charged at 2.25%/3.75% and repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		4,499		6,493
Investments	5		44,500		44,500

			48,999		50,993
CURRENT ASSETS
Stocks	6	1,171,737		1,683,321
Debtors	7	1,556,116		1,232,575
Cash at bank and in hand		81,412		38,120

		2,809,265		2,954,016
Creditors: Amounts Falling Due Within One Year	8	(2,806,378 )		(2,983,198 )

NET CURRENT ASSETS (LIABILITIES)			2,887		(29,182 )

TOTAL ASSETS LESS CURRENT LIABILITIES			51,886		21,811

Creditors: Amounts Falling Due After More Than One Year	9		-		(19,015 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,234 )		(1,234 )

NET ASSETS			50,652		1,562

CAPITAL AND RESERVES
Called up share capital	10		300		300
Profit and Loss Account			50,352		1,262

SHAREHOLDERS' FUNDS			50,652		1,562