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

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

SMART IT RESOURCES LIMITED - Company Information

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REGISTERED NUMBER: 04253465 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2020

FOR

SMART IT RESOURCES LIMITED
SMART IT RESOURCES LIMITED (REGISTERED NUMBER: 04253465)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SMART IT RESOURCES LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2020







DIRECTORS: Mr D R McCain
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
Page 1
SMART IT RESOURCES LIMITED (REGISTERED NUMBER: 04253465)


ABRIDGED BALANCE SHEET
31 JULY 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 4,116 5,488

CURRENT ASSETS
Debtors 38,631 25,928
Cash at bank 10,690 2,458
49,321 28,386
CREDITORS
Amounts falling due within one year 14,197 3,102
NET CURRENT ASSETS 35,124 25,284
TOTAL ASSETS LESS CURRENT
LIABILITIES
39,240
30,772

CAPITAL AND RESERVES
Called up share capital 6 200 200
Retained earnings 7 39,040 30,572
SHAREHOLDERS' FUNDS 39,240 30,772

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 notes form part of these financial statements

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SMART IT RESOURCES LIMITED (REGISTERED NUMBER: 04253465)


ABRIDGED BALANCE SHEET - continued
31 JULY 2020


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 2020 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 Board of Directors and authorised for issue on 4 May 2021 and were signed on its behalf by:





Mr D R McCain - Director


The notes form part of these financial statements

Page 3
SMART IT RESOURCES LIMITED (REGISTERED NUMBER: 04253465)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020


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 (2019 - 1 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2019
and 31 July 2020 13,145
DEPRECIATION
At 1 August 2019 7,657
Charge for year 1,372
At 31 July 2020 9,029
NET BOOK VALUE
At 31 July 2020 4,116
At 31 July 2019 5,488

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SMART IT RESOURCES LIMITED (REGISTERED NUMBER: 04253465)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2020


6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
200 Ordinary £1 200 200

7. RESERVES

Reserve£39,040

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2020 and 31 July 2019:

2020 2019
£    £   
Mr D R McCain
Balance outstanding at start of year 17,693 9,445
Amounts advanced 51,136 20,780
Amounts repaid (42,381 ) (12,532 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,448 17,693

9. RELATED PARTY DISCLOSURES

Other debtors includes Accountancy fees paid of £8,227 on behalf of Gill's Independent Eye care limited in which the director, Mr David McCain is a director and a significant shareholder.

Page 5