Smartzi Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09261921 (England and Wales)

Financial Statements for the Year Ended 30 April 2019

for

Smartzi Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Balasundaram

G P Brenan

J Indraprakash

C D M Tooley

K Vibushanan

REGISTERED OFFICE:

14 Elm Road

Chessington

Surrey

KT9 1AW

REGISTERED NUMBER:

09261921 (England and Wales)

AUDITORS:

Oppenheims Chartered Accountants

Statutory Auditors

PO Box 4991

Maidenhead

Berkshire

SL60 1NN

FIXED ASSETS

Intangible assets

4

890,723

593,336

Tangible assets

5

4,708

6,277

Investments

6

19,180

5,000

914,611

604,613

CURRENT ASSETS

Debtors

7

60,095

11,358

Cash at bank

6,187

2,543

66,282

13,901

CREDITORS

Amounts falling due within one year

8

503,777

584,581

NET CURRENT LIABILITIES

(437,495

)

(570,680

)

TOTAL ASSETS LESS CURRENT LIABILITIES

477,116

33,933

CAPITAL AND RESERVES

Called up share capital

2,395

1,094

Share premium

926,190

227,496

Retained earnings

(451,469

)

(194,657

)

SHAREHOLDERS' FUNDS

477,116

33,933

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 and authorised for issue on 22 April 2020 and were signed on its behalf by:

C Balasundaram - Director

1.	STATUTORY INFORMATION

Smartzi 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

The company's intangible asset (the trading platform) is operational but development is ongoing. In these

circumstances the directors do not consider it appropriate to commence depreciating this asset in these accounts.

It is the intention of the directors to commence writing down intangible assets over 10 years commencing on 1st

May 2019.

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 reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2018

593,336

Additions

297,387

At 30 April 2019

890,723

NET BOOK VALUE

At 30 April 2019

890,723

At 30 April 2018

593,336

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2018

and 30 April 2019

8,370

DEPRECIATION

At 1 May 2018

2,093

Charge for year

1,569

At 30 April 2019

3,662

NET BOOK VALUE

At 30 April 2019

4,708

At 30 April 2018

6,277

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2018

5,000

Additions

14,180

At 30 April 2019

19,180

NET BOOK VALUE

At 30 April 2019

19,180

At 30 April 2018

5,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Other debtors

60,095

11,358

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade creditors

306,034

158,747

Taxation and social security

2,683

20,718

Other creditors

195,060

405,116

503,777

584,581

Included within "Other creditors" at 30th April, 2018 were convertible loans totalling £335,500. These loans

were converted into 7,377 ordinary £0.01 shares during the period under review.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and

applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities

for the audit of the financial statements section of our report. We are independent of the company in accordance

with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the

FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these

requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a

basis for our opinion.

N S OPPENHEIM (Senior Statutory Auditor)

for and on behalf of Oppenheims Chartered Accountants

11.	ULTIMATE CONTROLLING PARTY

The controlling party is WWW Holding Company Limited Reg No. 05049626.

The ultimate controlling party is Mr A Subaskaran.