| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2025 |
| FOR |
| SMB BEARINGS LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2025 |
| FOR |
| SMB BEARINGS LIMITED |
| SMB BEARINGS LIMITED (REGISTERED NUMBER: 02623650) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| SMB BEARINGS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Unit 4 Mulgrave Chambers |
| 26-28 Mulgrave Road |
| Sutton |
| Surrey |
| SM2 6LE |
| SMB BEARINGS LIMITED (REGISTERED NUMBER: 02623650) |
| BALANCE SHEET |
| 30 NOVEMBER 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Investments | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 11 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the director and authorised for issue on |
| SMB BEARINGS LIMITED (REGISTERED NUMBER: 02623650) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2025 |
| 1. | STATUTORY INFORMATION |
| SMB Bearings Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts. |
| The director, having considered all the information available, is confident that the company has adequate reserves and resources to continue its operational activities for the foreseeable future. Accordingly, the director is satisfied that the going concern basis continues to be appropriate for the preparation of the annual financial statements. |
| Revenue recognition |
| Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and value added taxes. |
| Revenue is recognised when goods are delivered to the customer, such that the risks and rewards of ownership have passed to them. |
| Intangible fixed assets |
| Computer software is stated at cost less accumulated amortisation, provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Computer software | - 25% on cost |
| Where an asset is not fully operational, no amortisation is charged until the asset is brought into use. |
| Tangible fixed assets |
| Freehold land and buildings | - |
| Improvements to property | - |
| Plant and equipment | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Office equipment | - |
| Depreciation charges are calculated from the month of acquisition. |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised. |
| Cost is determined on a first in first out basis. Cost includes the purchase price, including taxes and duties, transport and all other costs directly attributable to bringing the stock to its present location and condition. |
| Goods in transit are recognised as stock once legal ownership transfers to the company and the risks and rewards of ownership are effectively controlled. |
| SMB BEARINGS LIMITED (REGISTERED NUMBER: 02623650) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has elected to apply the recognition and measurement provisions of Sections 11 and 12 of FRS 102. |
| Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. |
| Basic financial assets, including trade debtors, other debtors and cash at bank and in hand, are initially measured at transaction price and subsequently measured at amortised cost less impairment. |
| Financial assets measured at amortised cost are assessed at each reporting date for objective evidence of impairment. |
| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
| Basic financial liabilities, including trade creditors, other creditors and accruals, are initially recognised at transaction price and subsequently measured at amortised cost. |
| Financial liabilities are derecognised when the obligation under the liability is discharged, cancelled or expires. |
| Investment bond |
| The company's investment bond is classified as a financial asset measured at fair value through profit or loss. It is initially recognised at transaction price and subsequently remeasured to fair value at each reporting date. The fair value is determined by reference to the surrender value or valuation provided by the investment manager at the reporting date. Gains and losses arising from changes in fair value are recognised in profit or loss in the period in which they arise. |
| 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 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. |
| Foreign currencies |
| 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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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 |
| SMB BEARINGS LIMITED (REGISTERED NUMBER: 02623650) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Computer |
| software |
| £ |
| COST |
| At 1 December 2024 |
| and 30 November 2025 |
| AMORTISATION |
| At 1 December 2024 |
| Amortisation for year |
| At 30 November 2025 |
| NET BOOK VALUE |
| At 30 November 2025 |
| At 30 November 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Freehold | Improvements |
| land and | to | Plant and |
| buildings | property | equipment |
| £ | £ | £ |
| COST |
| At 1 December 2024 |
| Additions |
| At 30 November 2025 |
| DEPRECIATION |
| At 1 December 2024 |
| Charge for year |
| At 30 November 2025 |
| NET BOOK VALUE |
| At 30 November 2025 |
| At 30 November 2024 |
| Fixtures |
| and | Motor | Office |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 December 2024 |
| Additions |
| At 30 November 2025 |
| DEPRECIATION |
| At 1 December 2024 |
| Charge for year |
| At 30 November 2025 |
| NET BOOK VALUE |
| At 30 November 2025 |
| At 30 November 2024 |
| Included in cost of land and buildings is freehold land of £ 120,000 (2024 - £ 120,000 ) which is not depreciated. |
| SMB BEARINGS LIMITED (REGISTERED NUMBER: 02623650) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2025 |
| 6. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Goods for resale |
| Goods in transit |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| VAT |
| Prepayments and accrued income |
| 8. | CURRENT ASSET INVESTMENTS |
| 2025 | 2024 |
| £ | £ |
| Corporate investment bonds |
| The current asset investments portfolio is managed and its performance evaluated on a fair value basis in accordance with the company's investment strategy. |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Director's current account |
| Accruals and deferred income |
| 10. | FINANCIAL INSTRUMENTS |
| 2025 | 2024 |
| £ | £ |
| Financial assets measured at fair value through profit and loss |
| - Corporate investment bonds | 1,888,589 | 1,791,221 |
| 11. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1 December 2024 |
| Provided during year |
| Balance at 30 November 2025 |
| 12. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company owed the director £426 (2024 - £426). The amount is interest free and repayable on demand. |