Trades Smart Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07943137 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2023

for

Trades Smart Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Ridgway

Mrs R L Ridgway

REGISTERED OFFICE:

2271H Dunbeath Road

Elgin Industrial Estate

Swindon

Wiltshire

SN2 8EA

REGISTERED NUMBER:

07943137 (England and Wales)

ACCOUNTANTS:

Bew & Co Limited

Chartered Accountants

130 High Street

Marlborough

Wiltshire

SN8 1LZ

FIXED ASSETS

Tangible assets

4

13,998

14,612

CURRENT ASSETS

Stocks

49,000

29,000

Debtors

5

260,966

192,725

Cash at bank and in hand

148,292

238,840

458,258

460,565

CREDITORS

Amounts falling due within one year

6

162,554

181,065

NET CURRENT ASSETS

295,704

279,500

TOTAL ASSETS LESS CURRENT LIABILITIES

309,702

294,112

CREDITORS

Amounts falling due after more than one year

7

(22,500

)

(32,500

)

PROVISIONS FOR LIABILITIES

(3,500

)

(2,776

)

NET ASSETS

283,702

258,836

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

283,602

258,736

SHAREHOLDERS' FUNDS

283,702

258,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th July 2023 and were signed on its behalf by:

D J Ridgway - Director

1.	STATUTORY INFORMATION

Trades Smart Ltd 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.

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

-

33% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2022

28,548

Additions

5,005

Disposals

(2,503

)

At 31st March 2023

31,050

DEPRECIATION

At 1st April 2022

13,936

Charge for year

5,619

Eliminated on disposal

(2,503

)

At 31st March 2023

17,052

NET BOOK VALUE

At 31st March 2023

13,998

At 31st March 2022

14,612

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

129,812

97,689

Other debtors

131,154

95,036

260,966

192,725

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

92,102

94,459

Taxation and social security

37,772

49,292

Other creditors

22,680

27,314

162,554

181,065

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

22,500

32,500

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.23

31.3.22

£

£

Within one year

17,051

44,676

Between one and five years

-

17,051

17,051

61,727

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2023 and 31st March 2022:

31.3.23

31.3.22

£

£

Mrs R L Ridgway

Balance outstanding at start of year

-

21,020

Amounts repaid

-

(21,020

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

D J Ridgway

Balance outstanding at start of year

-

21,020

Amounts repaid

-

(21,020

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The loans are repayable on demand and interest at 2.25% is payable.