SMS ELECTRICAL SERVICES (LONDON) LTD


Directors	TURNER, Kirsty Louise
	TURNER, Mark Robert


Registered Address	1 Gemini Court
	42a Throwley Way,
	Sutton
	SM1 4AF


Registered Number	11508270 (England and Wales)

Statement of Financial Position
31 January 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	4		9,154		12,205
			9,154		12,205
Current assets
Stocks	5	28,006		4,501
Debtors	6	94,231		62,056
Cash at bank and on hand		25,941		27,663
		148,178		94,220
Creditors amounts falling due within one year	7	(121,964)		(84,578)
Net current assets (liabilities)			26,214		9,642
Total assets less current liabilities			35,368		21,847
Creditors amounts falling due after one year	8		-		(1,737)
Provisions for liabilities	10		(1,739)		(2,441)
Net assets			33,629		17,669
Capital and reserves
Called up share capital			200		200
Profit and loss account			33,429		17,469
Shareholders' funds			33,629		17,669

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 financial statements were approved and authorised for issue by the Board of Directors on 28 October 2026, and are signed on its behalf by:

TURNER, Mark Robert
Director
Registered Company No. 11508270

SMS ELECTRICAL SERVICES (LONDON) LTD

Notes to the Financial Statements
for the year ended 31 January 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).

	Turnover policy
	Turnover represents the value of services and goods provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	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 on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	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:


		Reducing balance (%)
	Plant and machinery	25
	Fixtures and fittings	25
	Vehicles	25
	Office Equipment	25

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	5		4

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 February 25	688	31,833	2,093	4,405	39,019
At 31 January 26	688	31,833	2,093	4,405	39,019
Depreciation and impairment
At 01 February 25	566	21,761	1,596	2,891	26,814
Charge for year	31	2,518	124	378	3,051
At 31 January 26	597	24,279	1,720	3,269	29,865
Net book value
At 31 January 26	91	7,554	373	1,136	9,154
At 31 January 25	122	10,072	497	1,514	12,205

5.	Stocks

	2026	2025
	£	£
Work in progress	28,006	4,501
Total	28,006	4,501

6.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	83,253	48,976
Other debtors	10,141	11,841
Prepayments and accrued income	837	1,239
Total	94,231	62,056

7.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	39,562	19,823
Bank borrowings and overdrafts	44,567	28,505
Taxation and social security	30,337	26,535
Finance lease and HP contracts	1,737	5,758
Other creditors	1,700	237
Accrued liabilities and deferred income	4,061	3,720
Total	121,964	84,578

8.	Creditors: amounts due after one year

	2026	2025
	£	£
Other creditors	-	1,737
Total	-	1,737

9.	Obligations under finance leases

		2026		2025
		£		£
	Finance lease and HP contracts	1,737		7,496

10.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	1,739	2,441
Total	1,739	2,441

11.	Operating lease commitments
	At 31 January 2026, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £9,083 (2025 – £9,083)

12.	Related party transactions
	During the year, the Company received consultancy services amounting to £7,300( 2025: £3,000) from Bluebell Design Consultants Ltd, a company under common control. Both entities are controlled by Kirsty Turner.