Company Registration No. 03883401 (England and Wales)
SMARTREPUTATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
SMARTREPUTATION LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
SMARTREPUTATION LIMITED
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investment properties
3
355,000
275,105
Current assets
Work in progress
440,270
7,313
Debtors
4
91
672
Cash at bank and in hand
128,018
105,789
568,379
113,774
Creditors: amounts falling due within one year
5
(431,186)
(140,619)
Net current assets/(liabilities)
137,193
(26,845)
Total assets less current liabilities
492,193
248,260
Creditors: amounts falling due after more than one year
6
(148,524)
-
Net assets
343,669
248,260
Capital and reserves
Called up share capital
2,500
2,500
Share premium account
24,500
24,500
Profit and loss reserves
316,669
221,260
Total equity
343,669
248,260
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 2020 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.
SMARTREPUTATION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2020
31 March 2020
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 March 2021 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 2020
- 3 -
1
Accounting policies
Company information
Smartreputation Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
105 York Road, Haxby, York, YO32 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
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
Changes in fair value are recognised in profit or loss.
1.4
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
SMARTREPUTATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
2
2
3
Investment property
2020
£
Fair value
Cost at 1 April 2019
275,105
Fair value adjustments
79,895
Fair value at 31 March 2020
355,000
Investment properties have been included in the accounts at the directors' opinion of their open market value. On an historical cost basis these would have been included at an original cost of £
275,105
(201
9
£
275,105
).
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
-
449
Other debtors
91
223
91
672
5
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans
4,540
52,848
Taxation and social security
3,639
3,395
Other creditors
423,007
84,376
431,186
140,619
SMARTREPUTATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 5 -
6
Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans
148,524
-
7
Directors' transactions
Included in other creditors at the year end is £421,380 (2019 £26,123) owed to Mr K M Clarkson and Mrs K D Burdass, the directors of the company.