Smart Cities World Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09891965 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

SMART CITIES WORLD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C J Cooke

REGISTERED OFFICE:

2nd Floor

St Mary Abchurch House

123 Cannon Street

London

EC4N 5AU

REGISTERED NUMBER:

09891965 (England and Wales)

ACCOUNTANTS:

Barrow LLP

Rae House

Dane Street

Bishops Stortford

Herts

CM23 3BT

FIXED ASSETS

Intangible assets

5

803

5,507

Tangible assets

6

115

208

918

5,715

CURRENT ASSETS

Debtors

7

37,243

22,022

Cash at bank

258

2,628

37,501

24,650

CREDITORS

Amounts falling due within one year

8

(209,643

)

(214,617

)

NET CURRENT LIABILITIES

(172,142

)

(189,967

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(171,224

)

(184,252

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(171,324

)

(184,352

)

SHAREHOLDERS' FUNDS

(171,224

)

(184,252

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 and authorised for issue on 30 November 2020 and were signed by:

C J Cooke - Director

1.	STATUTORY INFORMATION

Smart Cities World 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.	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.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

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 cost

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 2 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 December 2018

and 30 November 2019

18,820

AMORTISATION

At 1 December 2018

13,313

Amortisation for year

4,704

At 30 November 2019

18,017

NET BOOK VALUE

At 30 November 2019

803

At 30 November 2018

5,507

6.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 December 2018

and 30 November 2019

371

DEPRECIATION

At 1 December 2018

163

Charge for year

93

At 30 November 2019

256

NET BOOK VALUE

At 30 November 2019

115

At 30 November 2018

208

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Trade debtors

12,702

14,327

Other debtors

24,541

7,695

37,243

22,022

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Bank loans and overdrafts

9,465

-

Trade creditors

24,467

22,075

Taxation and social security

5,616

-

Other creditors

170,095

192,542

209,643

214,617

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.19

30.11.18

value:

£

£

100

Ordinary shares

£1

100

100