Smarter Cover Limited
Smarter Cover Limited
Registered number: 07123871
Director's Report and
Unaudited Financial Statements
For The Year Ended
31 January 2023
More Group (Accounting) Limited
Smarter Cover Limited
Director's Report and Unaudited Financial Statements
For The Year Ended
31 January 2023
Director's Report and Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Company Information | 1 |
| Director's Report | 2 |
| Accountant's Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5—6 |
| Statement of Changes in Equity | 7 |
| Notes to the Financial Statements | 8—10 |
Smarter Cover Limited
Company Information
For The Year Ended
31 January 2023
Company Information
| Director |
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| Company Number |
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| Registered Office | 243 Brooklands Road |
| Weybridge | |
| KT13 0RH | |
| Accountants |
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| London | |
| EC1V 0BN | |
Smarter Cover Limited
Company No. 07123871
Director's Report For The Year Ended
31 January 2023
Director's Report
The director presents his report and the financial statements for the year ended
31 January 2023
.
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Principal Activity
The principal activity of the company is insurance services.
Directors
The director who held office during the year were as follows:
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Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Director
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Smarter Cover Limited
Accountant's Report
For The Year Ended
31 January 2023
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of
Smarter Cover Limited
For The Year Ended 31 January 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of
Smarter Cover Limited
which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of
Smarter Cover Limited
, as a body, in accordance with the terms of our engagement letter dated 17 June 2019. Our work has been undertaken solely to prepare for your approval the accounts of
Smarter Cover Limited
and state those matters that we have agreed to state to the director of
Smarter Cover Limited
, as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Smarter Cover Limited
and its director as a body for our work or for this report.
It is your duty to ensure that
Smarter Cover Limited
has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of
Smarter Cover Limited
. You consider that
Smarter Cover Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of
Smarter Cover Limited
. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
| Signed |
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65 Compton Street
London
EC1V 0BN
Smarter Cover Limited
Profit and Loss Account
For The Year Ended
31 January 2023
Profit and Loss Account
| 2023 | 2022 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| TURNOVER |
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| Cost of sales |
( |
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| GROSS PROFIT |
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| Administrative expenses |
( |
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| Other operating income |
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| OPERATING LOSS AND LOSS FOR THE FINANCIAL YEAR |
( |
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The notes on pages 8 to 10 form part of these financial statements.
Smarter Cover Limited
Balance Sheet
As At
31 January 2023
Balance Sheet
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
( |
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| NET LIABILITIES |
( |
( |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
( |
( |
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| SHAREHOLDERS' FUNDS | (754,434) | (655,524) | |||
Smarter Cover Limited
Balance Sheet (continued)
As At
31 January 2023
On behalf of the board
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Director
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The notes on pages 8 to 10 form part of these financial statements.
Smarter Cover Limited
Statement of Changes in Equity
For The Year Ended
31 January 2023
Statement of Changes in Equity
| Share Capital | Profit and Loss Account | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 February 2021 |
|
( |
(613,633) |
| Loss for the year and total comprehensive income | - |
( |
(41,891) |
| As at 31 January 2022 and 1 February 2022 |
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( |
(655,524) |
| Loss for the year and total comprehensive income | - |
( |
(98,910) |
| As at
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( |
(754,434) |
Smarter Cover Limited
Notes to the Financial Statements
For The Year Ended
31 January 2023
Notes to the Financial Statements
1.
Accounting Policies
1.1.
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.
1.2.
Going Concern Disclosure
These accounts have been prepared on the going concern basis, on the understanding that the Director will continue to financially support the company during this uncertain period.
1.3.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
1.4.
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:
| Leasehold |
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| Fixtures & Fittings |
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| Computer Equipment |
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2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 60 (2022: 73)
3.
Intangible Assets
| Other | |||
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| £ | |||
| Cost | |||
| As at
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| As at
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| Amortisation | |||
| As at
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| Provided during the period |
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| As at
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| Net Book Value | |||
| As at
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| As at
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Smarter Cover Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2023
4.
Tangible Assets
| Land & Property | ||||
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| Leasehold | Fixtures & Fittings | Computer Equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at
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| Additions |
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| As at
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| Depreciation | ||||
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| Provided during the period |
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| As at
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| Net Book Value | ||||
| As at
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| As at
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5.
Debtors
| 2023 | 2022 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Amounts owed by associates |
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| Due after more than one year | |||
| Deferred tax current asset |
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6.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
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| £ | £ | ||
| Other taxes and social security |
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| Net wages | - | 2,981 | |
| Pension Account |
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| Other creditors. |
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| Credit card account |
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| Accruals and deferred income |
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Smarter Cover Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2023
7.
Creditors: Amounts Falling Due After More Than One Year
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Subordinate loan |
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| Other creditors |
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| Directors loan account |
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9.
Related Party Transactions
As at the balance sheet date, the company owed £24,725.07 (2021: £69,890) to Media Plan and owes £77,039.10 (2021:£30,218 ) from Convero.
10.
General Information
Smarter Cover Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
07123871
. The registered office is 243 Brooklands Road, Weybridge, KT13 0RH.