Smart It Resources Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04253465 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2019

FOR

SMART IT RESOURCES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D R McCain

REGISTERED OFFICE:

4th Floor

Radius House

51 Clarendon Road

Watford

Hertfordshire

WD17 1HP

REGISTERED NUMBER:

04253465 (England and Wales)

ACCOUNTANTS:

Nyman Linden, a division of JSA Services

4th Floor, Radius House

51 Clarendon Road

Watford

Hertfordshire

WD17 1HP

FIXED ASSETS

Tangible assets

5

5,488

5,585

CURRENT ASSETS

Debtors

25,928

21,158

Cash at bank

2,458

36

28,386

21,194

CREDITORS

Amounts falling due within one year

(3,102

)

(9,132

)

NET CURRENT ASSETS

25,284

12,062

TOTAL ASSETS LESS CURRENT LIABILITIES

30,772

17,647

CAPITAL AND RESERVES

Called up share capital

6

200

200

Retained earnings

7

30,572

17,447

SHAREHOLDERS' FUNDS

30,772

17,647

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 17 April 2020 and were signed by:

Mr D R McCain - Director

1.	STATUTORY INFORMATION

Smart It Resources 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2018

11,413

Additions

1,732

At 31 July 2019

13,145

DEPRECIATION

At 1 August 2018

5,828

Charge for year

1,829

At 31 July 2019

7,657

NET BOOK VALUE

At 31 July 2019

5,488

At 31 July 2018

5,585

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

200

Ordinary

£1

200

200

7.

RESERVES

£

Reserves

30,572

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2019 and 31 July 2018:

2019

2018

£

£

Mr D R McCain

Balance outstanding at start of year

9,445

12,172

Amounts advanced

20,780

1,900

Amounts repaid

(12,532

)

(4,627

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17,693

9,445

9.	RELATED PARTY DISCLOSURES

Other debtors includes Accountancy fees paid of £3,667 on behalf of Gill's Independent Eye care limited in which

the director, Mr David McCain is a director and a significant shareholder.