Gas Smart (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08413151 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

GAS SMART (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R McCarthy

REGISTERED OFFICE:

109 The Headlands

Kettering

Northamptonshire

NN15 6AB

REGISTERED NUMBER:

08413151 (England and Wales)

ACCOUNTANTS:

Elsby & Co

Thistle Down Barn

Holcot Lane

Sywell

Northampton

Northamptonshire

NN6 0BG

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

4,528

6,027

4,528

6,027

CURRENT ASSETS

Stocks

180

207

Debtors

5

43,604

23,968

Cash at bank

45,353

47,170

89,137

71,345

CREDITORS

Amounts falling due within one year

6

48,060

23,624

NET CURRENT ASSETS

41,077

47,721

TOTAL ASSETS LESS CURRENT LIABILITIES

45,605

53,748

PROVISIONS FOR LIABILITIES

770

1,025

NET ASSETS

44,835

52,723

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

44,735

52,623

SHAREHOLDERS' FUNDS

44,835

52,723

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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 director on 11 October 2019 and were signed by:

R McCarthy - Director

1.	STATUTORY INFORMATION

Gas Smart (UK) 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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been fully amortised evenly

over its estimated useful life of three years.

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

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 Statement of Income and Retained

Earnings, 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.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

10,000

AMORTISATION

At 1 April 2018

and 31 March 2019

10,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2018

and 31 March 2019

500

14,586

1,345

16,431

DEPRECIATION

At 1 April 2018

340

8,719

1,345

10,404

Charge for year

32

1,467

-

1,499

At 31 March 2019

372

10,186

1,345

11,903

NET BOOK VALUE

At 31 March 2019

128

4,400

-

4,528

At 31 March 2018

160

5,867

-

6,027

Computer equipment has fully depreciated over its useful life

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

42,874

23,688

Other debtors

730

280

43,604

23,968

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

6,997

5,222

Taxation and social security

15,525

15,949

Other creditors

25,538

2,453

48,060

23,624

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100