Smart IT Support Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Smart IT Support Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06550863 . The registered office is Unit D Marquis Court, Team Valley, Gateshead, Newcastle Upon Tyne, NE11 0RU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover 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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	20% Reducing Balance
Computer Equipment	25% Reducing Balance

2.5. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Page 3

Page 4

Smart IT Support Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 54 (2025: 37)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2025	8,000

As at 31 March 2026	8,000

Amortisation
As at 1 April 2025	8,000

As at 31 March 2026	8,000

Net Book Value
As at 31 March 2026	-

As at 1 April 2025	-

Page 4

Page 5

Smart IT Support Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2025	68,418	132,208	28,547	36,036	265,209
Additions	-	23,923	-	648	24,571
Disposals	-	(98,011 )	-	-	(98,011 )

As at 31 March 2026	68,418	58,120	28,547	36,684	191,769

Depreciation
As at 1 April 2025	62,344	86,167	19,858	25,703	194,072
Provided during the period	1,214	9,739	1,738	2,745	15,436
Disposals	-	(67,001 )	-	-	(67,001 )

As at 31 March 2026	63,558	28,905	21,596	28,448	142,507

Net Book Value
As at 31 March 2026	4,860	29,215	6,951	8,236	49,262

As at 1 April 2025	6,074	46,041	8,689	10,333	71,137

6. Investment Property

	2026
	£
Fair Value
As at 1 April 2025	300,000
Additions	4,240

As at 31 March 2026	304,240

7. Stocks

	2026	2025
	£	£
Finished goods	30,000	12,000
Work in progress	7,000	4,000

	37,000	16,000

8. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	250,955	207,031
Other debtors	262,440	324,619

	513,395	531,650

Page 5

Page 6

Smart IT Support Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

9. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	180,654	128,140
Other creditors	31,303	89,843
Taxation and social security	353,463	239,153

	565,420	457,136

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	11	11

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Mr Tony Wilson	(1,848 )	-	(312 )	-	(2,130 )

The above loan is unsecured, interest free and repayable on demand.

12. Related Party Transactions

The following amounts were outstanding at the reporting end date:

Amounts due to related parties

Smartstack Limited: 2025 - £72,974.84 2026 - £0.00

Amounts due from related parties

Smart Office Technology Limited: 2025 - £82,042.41 2026 - £0.00

Smartstack Limited : 2025 - £0.00 2026 - £48,262.84

Whickham Property Limited: 2025 - £227,281.21 2026 - £202,067.55

Whickham Property Limited, Smart Office Technology Limited and Smartstack Limited are under the ultimate

control of the same company or person or persons as Smart IT Support Limited.

Page 6

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		49,262		71,137
Investment Properties	6		304,240		300,000

			353,502		371,137
CURRENT ASSETS
Stocks	7	37,000		16,000
Debtors	8	513,395		531,650
Cash at bank and in hand		649,472		403,117

		1,199,867		950,767
Creditors: Amounts Falling Due Within One Year	9	(565,420 )		(457,136 )

NET CURRENT ASSETS (LIABILITIES)			634,447		493,631

TOTAL ASSETS LESS CURRENT LIABILITIES			987,949		864,768

NET ASSETS			987,949		864,768

CAPITAL AND RESERVES
Called up share capital	10		11		11
Profit and Loss Account			987,938		864,757

SHAREHOLDERS' FUNDS			987,949		864,768