| Smart Trade Live Limited |
| Notes to the Accounts |
| for the year ended 30 November 2018 |
|
|
| 1 |
Accounting policies |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
over 50 years |
|
Leasehold land and buildings |
over the lease term |
|
Plant and machinery |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
| 2 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 December 2017 |
350 |
|
At 30 November 2018 |
350 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 December 2017 |
70 |
|
Charge for the year |
56 |
|
At 30 November 2018 |
126 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2018 |
224 |
|
At 30 November 2017 |
280 |
|
|
| 3 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
180 |
|
175 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Taxation and social security costs |
2,597 |
|
364 |
|
Other creditors |
3,901 |
|
6,349 |
|
|
|
|
|
|
6,498 |
|
6,713 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Controlling party |
|
|
The company is controlled by the director who owns 100% of the called up share capital. |
|
|
| 6 |
Other information |
|
|
Smart Trade Live Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
73 Leicester Street |
|
Wolverhampton |
|
West Midlands |
|
WV6 0PS |
