SmartTasking.com Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09679782 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

SmartTasking.com Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P A Bibby

G M Gamp

N Anderson

REGISTERED OFFICE:

The Granary

1 Waverley Lane

Farnham

Surrey

GU9 8BB

REGISTERED NUMBER:

09679782 (England and Wales)

ACCOUNTANTS:

Blackwood Futcher & Co.

Chartered Accountants

9 St George's Yard

Farnham

Surrey

GU9 7LW

FIXED ASSETS

Tangible assets

4

2,001

-

CURRENT ASSETS

Debtors

5

186,681

115,508

Cash at bank

182,823

146,935

369,504

262,443

CREDITORS

Amounts falling due within one year

6

255,815

197,919

NET CURRENT ASSETS

113,689

64,524

TOTAL ASSETS LESS CURRENT LIABILITIES

115,690

64,524

PROVISIONS FOR LIABILITIES

380

-

NET ASSETS

115,310

64,524

CAPITAL AND RESERVES

Called up share capital

150

100

Retained earnings

115,160

64,424

115,310

64,524

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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 24 September 2019 and were signed on its behalf by:

P A Bibby - Director

1.	STATUTORY INFORMATION

SmartTasking.com 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.

Turnover is measured at the fair value of the consideration received or receivable of the company

consultancy activities and represents amounts receivable for services rendered, stated net of

discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is

probable that future economic benefits will flow to the entity.

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

-

25% on cost

Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment

losses.

On disposal, the difference between the net disposal proceeds and the carrying amount of the item

sold is recognised in profit or loss.

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 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, loans from banks

and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate

for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and the best estimate, which is an approximation, of

the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial

position when there is an enforceable right to set off the recognised amounts and there is an intention

to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

2,481

At 31 December 2018

2,481

DEPRECIATION

Charge for year

480

At 31 December 2018

480

NET BOOK VALUE

At 31 December 2018

2,001

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

167,707

53,374

Other debtors

18,974

62,134

186,681

115,508

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

165,569

117,995

Taxation and social security

33,675

20,673

Other creditors

56,571

59,251

255,815

197,919

7.	RELATED PARTY DISCLOSURES

At the year end, the company owed its directors Mr Paul Bibby £150 (2017 - £150), Mr Gary Gamp

£150 (2017 - £150) and Mr Niall Anderson £150 (2017 - £150).