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SMART MOTOR WORKS LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Registered number: 08025978
SMART MOTOR WORKS LIMITED REGISTERED NUMBER:08025978
BALANCE SHEET AS AT 30 SEPTEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 478,052 |  | 5,973
Current assets |  |  |  |  |
Stocks |  | 5,000 |  | 5,000 |
Debtors: amounts falling due within one year | 5 | 33,242 |  | 51,092 |
Cash at bank and in hand |  | 15,877 |  | 157,264 |
|  | 54,119 |  | 213,356 |
Creditors: amounts falling due within one year | 6 | (131,532) |  | (120,081) |
Net current (liabilities)/assets |  |  | (77,413) |  | 93,275
Total assets less current liabilities |  |  | 400,639 |  | 99,248
Creditors: amounts falling due after more than one year |  |  | (318,387) |  | -
Provisions for liabilities |  |  |  |  |
Deferred tax |  |  | (1,641) |  | (1,110)
Net assets |  |  | £80,611 |  | £98,138
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 80,511 |  | 98,038
|  |  | £80,611 |  | £98,138
Page 1
SMART MOTOR WORKS LIMITED REGISTERED NUMBER:08025978
BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 June 2026.
S J Martin | D Smy
Director | Director
The notes on pages 3 to 7 form part of these financial statements. Page 2
SMART MOTOR WORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1. | General information
Smart Motor Works Limited is a private company limited by shares, incorporated in England and Wales. The company's principal place of business is 50 Paddock Street, Norwich, Norfolk, NR2 4TW. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | Turnover
Turnover comprises revenue recognised by the company in respect of motor vehicle servicing and maintenance services supplied during the period, exclusive of Value Added Tax.
| 2.3 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their expected useful lives. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | 2% straight line basis
|  |  |  | Leasehold property | - | Over period of lease
|  |  |  | Plant and machinery | - | 20% straight line basis
A full years depreciation charge is provided in the year of acquisition and none in the year of disposal. Depreciation is not charged on freehold land. Gains and losses on disposals are determined by comparing proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.
| 2.4 | Stocks
Stocks are valued at the lower of cost and net realisable value.
| 2.5 | Debtors
Debtors are measured at transaction price, less any impairment for bad or doubtful debts.
| 2.6 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Page 3
SMART MOTOR WORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.7 | Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, bank and third party loans.
| 2.8 | Creditors
Creditors are measured at transaction price.
| 2.9 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2.10 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.
| 2.11 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.12 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.13 | Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance Sheet. Page 4
SMART MOTOR WORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.14 | Current and deferred taxation
The taxation expense for the year comprises current and deferred tax. Taxation is only recognised in the Statement of Comprehensive Income. The current corporation tax charge is calculated on the basis of taxation rates and laws that have been enacted or substantively enacted by the balance sheet date in the United Kingdom. The charge for taxation takes into account taxation deferred or accelerated as a result of all material timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax assets are recognised only to the extent that they are regarded as recoverable within the foreseeable future. Deferred tax assets and liabilities are not discounted.
3. | Employees
| The average monthly number of employees, including directors, during the year was 8 (2024 - 7).
4. | Tangible fixed assets
|  | Freehold property | Leasehold property | Plant and machinery | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 October 2024 | - | 5,624 | 25,742 | 31,366
| Additions | 476,678 | - | 6,000 | 482,678
| At 30 September 2025 | 476,678 | 5,624 | 31,742 | 514,044
| Depreciation |  |  |  |
| At 1 October 2024 | - | 5,624 | 19,769 | 25,393
| Charge for the year on owned assets | 7,734 | - | 2,865 | 10,599
| At 30 September 2025 | 7,734 | 5,624 | 22,634 | 35,992
| Net book value |  |  |  |
| At 30 September 2025 | £468,944 | £- | £9,108 | £478,052
| At 30 September 2024 | £- | £- | £5,973 | £5,973
Page 5
SMART MOTOR WORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 33,242 | 42,503
| Prepayments and accrued income | - | 8,589
|  | £33,242 | £51,092
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loan | 7,577 | -
| Trade creditors | 23,712 | 19,808
| Corporation tax | 17,444 | 21,440
| Other taxation and social security | 4,718 | 3,360
| Other creditors | 73,683 | 73,123
| Accruals and deferred income | 4,398 | 2,350
|  | £131,532 | £120,081
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loan | 7,577 | -
|  | 7,577 | -
| Details of security provided:
The bank loan is secured by a fixed and floating charge over the assets of the company. Page 6
SMART MOTOR WORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loan | 318,387 | -
|  | £318,387 | £-
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loan | 318,387 | -
|  | 318,387 | -
| Details of security provided:
The bank loan is secured by a fixed and floating charge over the assets of the company.
8. | Commitments under operating leases
| At 30 September 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 1,669 | -
| Later than 1 year and not later than 5 years | 6,675 | -
|  | £8,344 | £-
Page 7