REGISTERED NUMBER: 11234639 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

OWAIN SMART LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

O Smart

SECRETARY:

REGISTERED OFFICE:

Brolas

Crymych

Crymych

Pembrokeshire

SA41 3RR

REGISTERED NUMBER:

11234639 (England and Wales)

ACCOUNTANTS:

Great Nash Accountancy Services

31 Church View

Summerhill

Stepaside

Pembrokeshire

SA67 8LZ

FIXED ASSETS

Intangible assets

4

3,000

4,500

Tangible assets

5

53,370

45,270

56,370

49,770

CURRENT ASSETS

Stocks

-

7,607

Debtors

6

10,763

66,052

Cash at bank

23,096

11,503

33,859

85,162

CREDITORS

Amounts falling due within one year

7

46,789

68,944

NET CURRENT (LIABILITIES)/ASSETS

(12,930

)

16,218

TOTAL ASSETS LESS CURRENT LIABILITIES

43,440

65,988

CREDITORS

Amounts falling due after more than one year

8

(21,501

)

(18,896

)

PROVISIONS FOR LIABILITIES

(10,140

)

(11,317

)

NET ASSETS

11,799

35,775

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

11,697

35,673

SHAREHOLDERS' FUNDS

11,799

35,775

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2026 and were signed by:

O Smart - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2025 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

15,000

AMORTISATION

At 1 April 2025

10,500

Charge for year

1,500

At 31 March 2026

12,000

NET BOOK VALUE

At 31 March 2026

3,000

At 31 March 2025

4,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

100,596

Additions

21,995

At 31 March 2026

122,591

DEPRECIATION

At 1 April 2025

55,326

Charge for year

13,895

At 31 March 2026

69,221

NET BOOK VALUE

At 31 March 2026

53,370

At 31 March 2025

45,270

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

1,390

33,080

Other debtors

9,373

32,972

10,763

66,052

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

1,346

8,000

Hire purchase contracts

12,166

10,391

Trade creditors

14,729

13,004

Taxation and social security

16,572

36,532

Other creditors

1,976

1,017

46,789

68,944

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans

-

1,353

Hire purchase contracts

21,501

17,543

21,501

18,896

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.26

31.3.25

£

£

Bank loans

1,346

9,353

Hire purchase contracts

33,667

27,934

35,013

37,287

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2026 and 31 March 2025:

31.3.26

31.3.25

£

£

O Smart

Balance outstanding at start of year

(25,166

)

39,999

Amounts advanced

64,000

75,000

Amounts repaid

(37,833

)

(140,165

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,001

(25,166

)

Interest being charged to director, at the market rate of interest, on any overdrawn balance until repaid.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is O Smart.