SMS Metering Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05557645 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

SMS METERING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

SMS Manufacturing Limited

Miss L Sodin

SECRETARY:

V Sodin

REGISTERED OFFICE:

The Granary

Brewer Street

Bletchingley

Surrey

RH1 4QP

REGISTERED NUMBER:

05557645 (England and Wales)

ACCOUNTANTS:

Lees Chartered Accountants

The Granary

Brewer Street

Bletchingley

Surrey

RH1 4QP

CURRENT ASSETS

Stocks

61,576

74,017

Debtors

4

649

13,991

Cash at bank

3,200

5,561

65,425

93,569

CREDITORS

Amounts falling due within one year

5

105,520

115,717

NET CURRENT LIABILITIES

(40,095

)

(22,148

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(40,095

)

(22,148

)

CAPITAL AND RESERVES

Called up share capital

11,000

11,000

Retained earnings

(51,095

)

(33,148

)

SHAREHOLDERS' FUNDS

(40,095

)

(22,148

)

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

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

The directors acknowledge their 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.

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

The financial statements were approved by the Board of Directors on 23 September 2019 and were signed on its behalf by:

Miss L Sodin - Director

1.	STATUTORY INFORMATION

SMS Metering 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year 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 statement of financial position date.

Deferred tax

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

the statement of financial position 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 year 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 year was 1 (2017 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

-

12,165

Other debtors

649

1,826

649

13,991

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Payments on account

-

697

Trade creditors

364

5,618

Amounts owed to group undertakings

93,643

94,093

Taxation and social security

3,122

5,478

Other creditors

8,391

9,831

105,520

115,717

6.	ULTIMATE CONTROLLING PARTY

The controlling party is SMS Manufacturing Limited which is under the control of director V Sodin.

7.	RELATED PARTY TRANSACTIONS

As at 31 December 2018 the company owed SMS Manufacturing Limited £93,643 (2017: £94,093). Mr

V Sodin is a director of SMS Manufacturing Limited.