Company No: 03516884 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	8,288		18,072
		8,288		18,072
Current assets
Stocks		62,304		68,438
Debtors	5	725,422		875,913
Cash at bank and in hand		185,748		311,656
		973,474		1,256,007
Creditors: amounts falling due within one year	6	( 328,314)		( 540,059)
Net current assets		645,160		715,948
Total assets less current liabilities		653,448		734,020
Provision for liabilities	7, 8	( 147,899)		( 150,991)
Net assets		505,549		583,029
Capital and reserves
Called-up share capital	9	50,000		50,000
Profit and loss account		455,549		533,029
Total shareholders' funds		505,549		583,029

For the financial year ending 31 October 2025 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 SML Supplies Limited (registered number: 03516884) were approved and authorised for issue by the Board of Directors on 08 July 2026. They were signed on its behalf by:

Mr N S Walters 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

SML Supplies Ltd (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 Edison Gate, Unit 10a Hopkinson Way, Hopkinson Way, Andover, SP10 3ZE.

The financial statements have been prepared under the historical cost convention 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Intangible assets

Goodwill, being the amount paid in connection with the acquisition of a business in 2014 has been amortised evenly over its estimated useful life of three years.

Goodwill

3 years straight line

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:

Land and buildings	depreciated over the life of the lease
Plant and machinery	25 % reducing balance
Fixtures and fittings	2 years straight line
Office equipment	2 - 4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances and amounts owed to group undertakings are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and amounts owed from fellow group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	8		8

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 November 2024	30,000		30,000
At 31 October 2025	30,000		30,000
Accumulated amortisation
At 01 November 2024	30,000		30,000
At 31 October 2025	30,000		30,000
Net book value
At 31 October 2025	0		0
At 31 October 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 November 2024	5,344		42,460		31,438		84,464		163,706
At 31 October 2025	5,344		42,460		31,438		84,464		163,706
Accumulated depreciation
At 01 November 2024	5,344		42,460		24,558		73,272		145,634
Charge for the financial year	0		0		3,440		6,344		9,784
At 31 October 2025	5,344		42,460		27,998		79,616		155,418
Net book value
At 31 October 2025	0		0		3,440		4,848		8,288
At 31 October 2024	0		0		6,880		11,192		18,072

5. Debtors

	2025		2024
	£		£
Trade debtors	93,303		262,442
Amounts owed by Parent undertakings	600,000		600,000
Other debtors	32,119		13,471
	725,422		875,913

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	173,700		215,879
Amounts owed to Parent undertakings	3,821		64,983
Taxation and social security	4,301		70,368
Other creditors	146,492		188,829
	328,314		540,059

Within Trade creditors, there is an amount of £995 (2024: £nil) owed by the directors. This amount is interest free and repayable on demand.

The company has a drawdown facility for which security has been given. This is secured by fixed and floating charges over the fixed assets of the company. At the balance sheet date there was no amount outstanding (2024: £nil).

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	1,233		4,325
Other provisions	146,666		146,666
	147,899		150,991

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 4,325)		( 6,754)
Credited to the Profit and Loss Account	3,092		2,429
At the end of financial year	( 1,233)		( 4,325)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
49,949 Ordinary A shares of £ 1.00 each	49,949		49,949
51 Ordinary B shares of £ 1.00 each	51		51
	50,000		50,000

10. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	239,075		308,750