Smarter Services Ltd

Smarter Services Ltd

SMARTER SERVICES LTD - Company Information

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Registered number: 05719596
Smarter Services Ltd
Abbreviated accounts
For The Year Ended 28 February 2015
Anthony de Jong & Co Ltd

Chartered Accountants

EEF House
Station Road
Hook
Hampshire
RG27 9TL
Smarter Services Ltd
Company No. 05719596
Abbreviated Balance Sheet 28 February 2015
Abbreviated Balance Sheet
2015 2014
Notes £ £ £ £
FIXED ASSETS
Intangible assets 2 4,000 8,000
Tangible assets 3 108,788 62,241
112,788 70,241
CURRENT ASSETS
Stocks 4,000 4,000
Debtors 292,940 337,501
Cash at bank and in hand 7,062 44,608
304,002 386,109
Creditors: Amounts Falling Due Within One Year (384,080) (490,978)
NET CURRENT ASSETS (LIABILITIES) (80,078) (104,869)
TOTAL ASSETS LESS CURRENT LIABILITIES 32,710 (34,628)
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,111) -
NET ASSETS 21,599 (34,628)
CAPITAL AND RESERVES
Called up share capital 4 2 2
Profit and Loss account 21,597 (34,630)
SHAREHOLDERS' FUNDS 21,599 (34,628)
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Smarter Services Ltd
Company No. 05719596
Abbreviated Balance Sheet (continued) 28 February 2015
For the year ending 28 February 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).
On behalf of the board
Mr Jason Southwell
26th March 2015
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Smarter Services Ltd
Notes to the Abbreviated Accounts
For The Year Ended 28 February 2015
Notes to the Abbreviated Accounts
Accounting Policies
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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Smarter Services Ltd
Notes to the Abbreviated Accounts (continued)
For The Year Ended 28 February 2015
Intangible Assets
Total
Cost £
As at 1 March 2014 40,000
As at 28 February 2015 40,000
Amortisation
As at 1 March 2014 32,000
Provided during the period 4,000
As at 28 February 2015 36,000
Net Book Value
As at 28 February 2015 4,000
As at 1 March 2014 8,000
Tangible Assets
Total
Cost £
As at 1 March 2014 160,533
Additions 89,949
Disposals (30,500)
As at 28 February 2015 219,982
Depreciation
As at 1 March 2014 98,292
Provided during the period 19,585
Disposals (6,683)
As at 28 February 2015 111,194
Net Book Value
As at 28 February 2015 108,788
As at 1 March 2014 62,241
Share Capital
Value Number 2015 2014
Allotted, called up and fully paid: £ £ £
Ordinary shares 1.000 2 2 2
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