Company Registration No. 03883401 (England and Wales)
SMARTREPUTATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
SMARTREPUTATION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SMARTREPUTATION LIMITED
BALANCE SHEET
AS AT 31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
2
275,105
275,105
Current assets
Work in progress
7,313
-
Debtors
3
672
13,587
Cash at bank and in hand
105,789
15,426
113,774
29,013
Creditors: amounts falling due within one year
4
(140,619)
(70,334)
Net current liabilities
(26,845)
(41,321)
Total assets less current liabilities
248,260
233,784
Capital and reserves
Called up share capital
5
2,500
2,500
Share premium account
24,500
24,500
Profit and loss reserves
221,260
206,784
Total equity
248,260
233,784
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 20 December 2019 and are signed on its behalf by:
Mr K M Clarkson
Mrs K D Burdass
Director
Director
Company Registration No. 03883401
SMARTREPUTATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 2 -
1
Accounting policies
Company information
Smartreputation Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Old House, 109 York Road, Haxby, York, Y032 3EN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rents receivable.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings
Nil
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Work in progress
Stocks and work in progress
are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
SMARTREPUTATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
2
Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2018 and 31 March 2019
275,105
Depreciation and impairment
At 1 April 2018 and 31 March 2019
-
Carrying amount
At 31 March 2019
275,105
At 31 March 2018
275,105
£
Ashville Street, York
45,391
59 Knaresborough Road, Harrogate
229,714
275,105
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
449
1,800
Other debtors
223
11,787
672
13,587
SMARTREPUTATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 4 -
4
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
52,848
63,259
Taxation and social security
3,395
3,570
Other creditors
84,376
3,505
140,619
70,334
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
2,500 Ordinary shares of £1 each
2,500
2,500
6
Directors' transactions
Included in other debtors at the year end is £nil (2018 £11,564) owed to the company by Mr K M Clarkson and Mrs K D Burdass, the directors of the company.
Included in other creditors at the year end is £26,123 (2018 £nil) owed to Mr K M Clarkson and Mrs K D Burdass, the directors of the company.