SMSA UK LTD


Directors	HUGHES, Ashley Leon
	STEPHENS, Sian Marie


Company Secretary	HUGHES, Ashley Leon


Registered Address	25 Hither Farm Road
	Blackheath
	London
	SE3 9QT


Registered Number	11455449 (England and Wales)

Statement of Financial Position
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		816		1,600
			816		1,600
Current assets
Stocks	4	11,190		11,190
Debtors		3,014		8,755
Cash at bank and on hand		381		1,971
		14,585		21,916
Creditors amounts falling due within one year	5	(30,202)		(18,257)
Net current assets (liabilities)			(15,617)		3,659
Total assets less current liabilities			(14,801)		5,259
Net assets			(14,801)		5,259
Capital and reserves
Called up share capital			55		55
Profit and loss account			(14,856)		5,204
Shareholders' funds			(14,801)		5,259

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 25 July 2026, and are signed on its behalf by:

HUGHES, Ashley Leon
Director
Registered Company No. 11455449

SMSA UK LTD

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included in other creditors is an amount of £5,290.91 (2023: £nil) owing to Mr A L Hughes, a director of the company. Mr A L Hughes undertakes not to draw down on this loan to the detriment of the company and, as such, considers it appropriate to prepare the accounts on the going concern basis

Trade and other creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Included in other creditors is an amount of £5,290.91 (2023: £nil) owing to Mr A L Hughes, a director of the company. Mr A L Hughes undertakes not to draw down on this loan to the detriment of the company and, as such, considers it appropriate to prepare the accounts on the going concern basis

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees
	Directors without contract of service are excluded


		2026		2025
	Average number of employees during the year	1		1

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 25	3,759
	At 31 March 26	3,759
	Depreciation and impairment
	At 01 April 25	2,160
	Charge for year	783
	At 31 March 26	2,943
	Net book value
	At 31 March 26	816
	At 31 March 25	1,600

4.	Stocks
	Inventories Inventory consists of physical gold and silver bullion held for resale. At the balance sheet date, the inventories are stated at historic cost, which is considered to be lower than or equal to net realisable value. No revaluation to reflect current market prices has been made. The directors are satisfied that the carrying value of inventory is appropriate and complies with the valuation principles of FRS 102 1A

Stocks

Inventories
Inventory consists of physical gold and silver bullion held for resale. At the balance sheet date, the
inventories are stated at historic cost, which is considered to be lower than or equal to net realisable
value.

No revaluation to reflect current market prices has been made. The directors are satisfied that the
carrying value of inventory is appropriate and complies with the valuation principles of FRS 102 1A

	2026	2025
	£	£
Other stocks	11,190	11,190
Total	11,190	11,190

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	24	1,444
Other creditors	30,178	16,813
Total	30,202	18,257


	This includes amounts due to directors of £30,178.29 (2025: £16,813.02).

6.	Share capital
	The company has two classes of ordinary shares in issue: 50 Ordinary A shares of £1 each, held by Sian Stephens. No change from the previous year. 50 Ordinary B shares of £0.10 each, held by Ashley Hughes. No change from the previous year. Both share classes carry full rights to vote, dividends, and return of capital unless varied by agreement. No shares were issued or cancelled during the year.

Share capital

The company has two classes of ordinary shares in issue:

50 Ordinary A shares of £1 each, held by Sian Stephens. No change from the previous year.
50 Ordinary B shares of £0.10 each, held by Ashley Hughes. No change from the previous year.

Both share classes carry full rights to vote, dividends, and return of capital unless varied by agreement. No shares were issued or cancelled during the year.