SMART VIDEO & SENSING LTD

SMART VIDEO & SENSING LTD

SMARTMICRO UK LIMITED - Company Information

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SMART VIDEO & SENSING LTD

Company Registration Number:
04600485 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2018

Period of accounts

Start date: 01 October 2017

End date: 30 September 2018

SMART VIDEO & SENSING LTD

Contents of the Financial Statements

for the Period Ended 30 September 2018

Balance sheet
Notes

SMART VIDEO & SENSING LTD

Balance sheet

As at 30 September 2018


Notes
2018
2017


£
£
Fixed assets
Intangible assets: 3 0 1
Tangible assets: 4 2,722 6,819
Total fixed assets: 2,722 6,820
Current assets
Stocks: 11,317 50,310
Debtors:   126,313 273,838
Cash at bank and in hand: 101,590 47,543
Total current assets: 239,220 371,691
Creditors: amounts falling due within one year:   (178,796) (353,262)
Net current assets (liabilities): 60,424 18,429
Total assets less current liabilities: 63,146 25,249
Provision for liabilities: (517)
Total net assets (liabilities): 62,629 25,249
Capital and reserves
Called up share capital: 80 80
Profit and loss account: 62,549 25,169
Shareholders funds: 62,629 25,249

The notes form part of these financial statements

SMART VIDEO & SENSING LTD

Balance sheet statements

For the year ending 30 September 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 February 2019
and signed on behalf of the board by:

Name: Mr P Eccleson
Status: Director

The notes form part of these financial statements

SMART VIDEO & SENSING LTD

Notes to the Financial Statements

for the Period Ended 30 September 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goodssupplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards ofownership have transferred to the buyer (usually on despatch of the goods); the amount ofrevenue can be measured reliably; it is probable that the associated economic benefits will flowto the entity; and the costs incurred or to be incurred in respect of the transactions can bemeasured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and subsequently stated at cost less anyaccumulated depreciation and impairment losses. Any tangible assets carried at revaluedamounts are recorded at the fair value at the date of revaluation less any subsequentaccumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as a result of a revaluation, is recognised in othercomprehensive income and accumulated in equity, except to the extent it reverses a revaluationdecrease of the same asset previously recognised in profit or loss. A decrease in the carryingamount of an asset as a result of revaluation, is recognised in other comprehensive income tothe extent of any previously recognised revaluation increase accumulated in equity in respect ofthat asset. Where a revaluation decrease exceeds the accumulated revaluation gainsaccumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.Depreciation is calculated so as to write off the cost or valuation of an asset, less its residualvalue, over the useful economic life of that asset as follows:Rental equipment - 67% straight linePlant & machinery - 33% straight lineMotor vehicles - 33% straight lineEquipment - 33% straight lineDevelopment - 33% straight line

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete andsell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringingthe stock to its present location and condition.

SMART VIDEO & SENSING LTD

Notes to the Financial Statements

for the Period Ended 30 September 2018

2. Employees

2018 2017
Average number of employees during the period 5 6

SMART VIDEO & SENSING LTD

Notes to the Financial Statements

for the Period Ended 30 September 2018

3. Intangible Assets

Total
Cost £
At 01 October 2017 1
Disposals (1)
At 30 September 2018 0
Net book value
At 30 September 2018 0
At 30 September 2017 1

SMART VIDEO & SENSING LTD

Notes to the Financial Statements

for the Period Ended 30 September 2018

4. Tangible Assets

Total
Cost £
At 01 October 2017 111,171
Disposals (3,000)
At 30 September 2018 108,171
Depreciation
At 01 October 2017 104,352
Charge for year 4,097
On disposals (3,000)
At 30 September 2018 105,449
Net book value
At 30 September 2018 2,722
At 30 September 2017 6,819

SMART VIDEO & SENSING LTD

Notes to the Financial Statements

for the Period Ended 30 September 2018

5. Loans to directors

During the year the director entered into the following advances and credits with the company:2018Mr P Eccleson:Balance brought forward - (635)Advances/(credits) to the director - 11,285Amounts repaid - (11,122)Balance Outstanding - (472)2017Mr P Eccleson:Balance brought forward - (63,698)Advances/(credits) to the director - 76,740Amounts repaid - (13,677)Balance Outstanding - (635)