Smart Accountancy Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06225622 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 31 March 2020

for

Smart Accountancy Solutions Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M A Smith

REGISTERED OFFICE:

3 Taylors Lane

Worcester

WR1 1PN

REGISTERED NUMBER:

06225622 (England and Wales)

ACCOUNTANTS:

Smart Accountancy Solutions Limited

3 Taylors Lane

Worcester

WR1 1PN

BANKERS:

National Westminster Bank

1 The Cross

Worcester

WR1 3PR

FIXED ASSETS

Tangible assets

4

183

273

CURRENT ASSETS

Debtors

47,989

32,446

Cash at bank

34,733

21,045

82,722

53,491

CREDITORS

Amounts falling due within one year

38,379

33,034

NET CURRENT ASSETS

44,343

20,457

TOTAL ASSETS LESS CURRENT LIABILITIES

44,526

20,730

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

44,524

20,728

SHAREHOLDERS' FUNDS

44,526

20,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 21 August 2020 and were signed by:

Mr M A Smith - Director

1.	STATUTORY INFORMATION

Smart Accountancy Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

and 31 March 2020

2,065

DEPRECIATION

At 1 April 2019

1,792

Charge for year

90

At 31 March 2020

1,882

NET BOOK VALUE

At 31 March 2020

183

At 31 March 2019

273