Mysmart Investments Limited |
|
Report to the directors on the preparation of the unaudited abbreviated accounts of Mysmart Investments Limited for the year ended 31 August 2015 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Mysmart Investments Limited for the year ended 31 August 2015 which comprise of 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 firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/ |
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
Purvis Stevens LLP |
Chartered Certified Accountants |
Hayles Bridge Offices |
228 Mulgrave Road |
Cheam |
Surrey |
SM2 6JT |
|
17 December 2015 |
|
Mysmart Investments Limited
|
Registered number: |
05541301
|
Abbreviated Balance Sheet |
as at 31 August 2015
|
|
Notes |
|
|
2015 |
|
|
2014 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
186,466 |
|
|
186,466 |
|
Current assets |
Cash at bank and in hand |
|
|
602 |
|
|
1,585 |
|
Creditors: amounts falling due within one year |
|
|
(70,407) |
|
|
(67,966) |
|
Net current liabilities |
|
|
|
(69,805) |
|
|
(66,381) |
|
Total assets less current liabilities |
|
|
|
116,661 |
|
|
120,085 |
|
Creditors: amounts falling due after more than one year |
|
|
|
(16,309) |
|
|
(35,178) |
|
|
|
Net assets |
|
|
|
100,352 |
|
|
84,907 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
3 |
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
100,350 |
|
|
84,905 |
|
Shareholders' funds |
|
|
|
100,352 |
|
|
84,907 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
|
|
|
|
M J B Ward |
Director |
Approved by the board on 17 December 2015
|
|
Mysmart Investments Limited
|
Notes to the Abbreviated Accounts |
for the year ended 31 August 2015
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of rental income charged to the tenant of the industrial unit.
|
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Investment property |
|
The company's investment property is stated in the balance sheet date at a valuation arrived at by Mr M J B Ward, a director. No depreciation is provided. |
|
|
2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 September 2014 |
186,466 |
|
At 31 August 2015 |
186,466 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 August 2015 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2015 |
186,466 |
|
At 31 August 2014 |
186,466 |
|
|
|
|
|
|
|
|
The investment property was valued by a director, Mr M J B Ward, at 31 August 2013. |
|
|
As at 31 August 2013 the historical cost of the investment property held at market value was £186,466. No provision is made for depreciation of investment properties. This departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated is, in the opinion of the directors, necessary for the financial statements to show a true and fair view in accordance with applicable accounting standards. The depreciation charge is only one of the factors reflected in the annual variation and therefore the effect of the departure cannot be readily quantified. |
|
3 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares
|
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
4 |
Loans from directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
M J B Ward
|
|
Company financing
|
(40,361) |
|
- |
|
- |
|
(40,361) |
|
|
|
(40,361) |
|
- |
|
- |
|
(40,361) |
|
|
|
|
|
|
|
|
|