SMBI Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10967954 (England and Wales)

SMBI Limited

Unaudited Financial Statements

for the Period

18 September 2017 to 31 December 2018

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Brown

REGISTERED OFFICE:

Towers Point

Towers Business Park

Wheelhouse Road

Rugeley

Staffordshire

WS15 1UN

REGISTERED NUMBER:

10967954 (England and Wales)

ACCOUNTANTS:

Wychbury Greaves

Towers Point

Towers Business Park

Wheelhouse Road

Rugeley

Staffordshire

WS15 1UN

FIXED ASSETS

Tangible assets

4

1,179

Investment property

5

210,587

211,766

CURRENT ASSETS

Cash at bank

65,020

CREDITORS

Amounts falling due within one year

217,371

NET CURRENT LIABILITIES

(152,351

)

TOTAL ASSETS LESS CURRENT LIABILITIES

59,415

CREDITORS

Amounts falling due after more than one year

6

103,019

NET LIABILITIES

(43,604

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(43,704

)

SHAREHOLDERS' FUNDS

(43,604

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 17 June 2019 and were signed by:

S Brown - Director

1.	STATUTORY INFORMATION

SMBI Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

The director considers that the market value of its investment property has not materially changed at the year

end.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

Additions

2,022

At 31 December 2018

2,022

DEPRECIATION

Charge for period

843

At 31 December 2018

843

NET BOOK VALUE

At 31 December 2018

1,179

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

210,587

At 31 December 2018

210,587

NET BOOK VALUE

At 31 December 2018

210,587

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

£

Repayable by instalments

Bank loans more 5 yr by instal

103,019

7.	SECURED DEBTS

The following secured debts are included within creditors:

£

Mortgage

103,019

The mortgage creditor is secured over the investment property to which they relate.

8.	DIRECTORS' GUARANTEE